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- Filecoin is currently trading in an accumulation zone with an intraday gain of 26.47%. Meanwhile the FIL/BTC pair is at the level of 0.001477 BTC
- FIL coin technical indicators suggest a bullish momentum and it can see a further movement upto $150
Filecoin price is currently at the value of $85.84 with a gain of 25.23%. FIL can face resistance at the value of $100, and on the downside, it can see support from the value of $70. It is trading above 50 and 100 SMA on the daily chart. The 50-SMA (red) is at the value of $40.54, 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. FIL price jumped around 160% after the crossover
The recent rally in Filecoin can also be termed as the effect of buying in FIL by the Gray scale and other institutional investor. If the buying continues then it can rally upto $150 can be seen.
Filecoin is currently ranked at 20, with a market capitalization of $170,890,206,078. FIL volume($5,451,703,903) has seen a change of 58.28% in the 24-hour time frame. The ratio of volume and market capitalization is 1.08. If the ratio sees a new high then the market capitalization will go to a new high.
TECHNICAL INDICATORS SUGGEST A STRONG BULLISH MOMENTUM OF FIL PRICE
FIL has given more than 110% return from the start of this year. FIL shows positive momentum on the weekly chart and can go to the higher levels. The daily chart shows a positive momentum and can see a major breakout above $100 in the upcoming days. In the shorter time frame of the 4-hour chart, it has formed an accumulation zone. If the price goes down up to 10% of the supply zone, it would be difficult for it to retrace back.
RSI(OVERBOUGHT): It is trailing at the value of 79.62, showcasing its presence in the overbought zone. There is a negative slope formed in RSI, highlighting that price can see a downtrend in the upcoming session. The overall sentiment of the RSI is positive.
CONCLUSION
The Filecoin project has a great vision and a great team. FIL price is seeing a huge bullish momentum. It has seen a spike of approximately 160% in a span of 15 days. An Investor should do their own due diligence before investing.
TECHNICAL LEVELS
Major Resistance:$100
Major Support:$70
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
