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.


Source:Trading view
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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 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.


Major Resistance:$47

Major Support:$30

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Adarsh Singh
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.

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