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

FIL Price Looking to test the lower support
  • 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
- Advertisement -

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.

How useful was this post?

Click on a thumb to rate it!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Download our App for getting faster updates at your fingertips.

Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Top Rated NFT Market

Australia's Top Rated Exchange

Top Rated Cryptocurrency Payment Service

Partners

cryptoheroes

RocketFuel