Follow Us

Filecoin Price Analysis: FIL Facing Resistance From Bears Inside The Triangle

Share on facebook
Share on twitter
Share on linkedin

Share

FILECOIN
Share on facebook
Share on twitter
Share on linkedin
  • Filecoin is currently trading in a triangular pattern with an intraday gain of 0.52%. Meanwhile the FIL/BTC pair is at the level of 0.0007585 BTC
  • FIL coin technical indicators are in neutral position but in the long run bulls can win the race
Source:Trading view

Filecoin price is currently at the value of $41.91 with a gain of 0.88%. FIL can face resistance at the value of $47, and on the downside, it can see support from the value of $30. It is trading above 50 and 100 Moving Average on the daily chart. The 50MA red line is at the value of $34.55, making it temporary support for the coin. The price has given a positive crossover on FEB 25,2021. The price has also seen a positive rally after the crossover. If the FIL price breaks below the 50 and 100 MA, it would be tough to recover on the positive side.

Filecoin is currently ranked at 43, with a market capitalization of $2,411,461,564. FIL volume has seen a change of 5.28% in the 24-hour time frame.

TECHNICAL INDICATORS ARE WAITING FOR BEARS

Source:Trading view

FIL has given more than 110% return from the start of this year. FIL shows negative momentum on the weekly chart and has a long route to cover. The daily chart shows a positive momentum and can see a major breakout in the upcoming days. In the shorter time frame of the 4-hour chart, it has formed a triangular pattern. If the price goes down up to 10% of the triangle’s longest line, it would be difficult for it to retrace back.

RSI(Neutral): It is trailing at the value of 56.42, showcasing its presence in the overbought zone. There is no slope formed in RSI, highlighting that price can see a downtrend in the upcoming session. The overall sentiment of the RSI is neutral.

FILECOIN PRICE NOT LOOKING FOR A PUMP

Filecoin project has a great vision and a great team. Filecoin is currently trailing in the consolidated zone and not looking for a breakout. FIL can see a jump in the price, but there can be a wait. An Investor should do their own due diligence before investing.

TECHNICAL LEVELS

Major Resistance:$47

Major Support:$30

Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.

Leave a Reply

Your email address will not be published. Required fields are marked *

Download our App for getting faster updates at your fingertips.

en_badge_web_generic.b07819ff-300x116-1

We Recommend

Top Rated Cryptocurrency Exchange

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00