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- FIL price is currently in a demand zone with a gain of 9.20%. Meanwhile, the FIL/BTC pair is at 0.001472 BTC with a gain of 4.54%
- The S2F number for FIL is 16 which is less if we see the other coins. In Contrast, the technical indicator suggests a downtrend.
FIL coin has seen a gain of more than 200% from the start of this year.FIL price forecast a bearish momentum in upcoming days. FIL is a blockchain-powered decentralized data storage that is boosting the efficiency of the current system and replacing the current cloud storage systems. It was launched in 2017 and has seen an ROI of 622% since its inception.
FIL is currently ranked 20 with a market capitalization of $164,648,225,377.The volume($2,029,105,542) of the coin has seen a gain of 68%.The volume to market capitalization ratio for the coin is 0.404. If it crosses above 0.75, then a huge buying rush can be seen.
Technical Indicators Hints A Bearish Move For FIL Price Forecast
The weekly technical chart of the FIL showcases bullish momentum. The daily chart of the FIL Price forecasts a consolidated sentiment. Filecoin price is trading above 50 and 100 Moving average. The 50MA(RED) line is at $47.29, making it temporary support for the coin. Resistance for the coin on the upside is at $87 while coming on to the downside, the bounce-back can be seen from $75. A demand zone is formed on coming to the shorter time frame of 4 hr chart. If the price breaks 10% above the zone, then there is a good chance that the price will see momentum up to $100. The FIL/BTC pair can also see a gain of 10% in the upcoming months.
RSI(BEARISH): It is trailing at 57.73, showcasing its presence in the neutral zone. There is a negative slope formation in the RSI, highlighting that the price can see a downtrend. The overall sentiment of RSI is bearish.
Conclusion
FIL price forecast a great future while disrupting the current cloud storage system. Filecoin use has peaked its interest in investors.FIL/BTC pair can also see a great return in the future. An investor should do their due diligence before investing
Technical Levels
Major Resistance:$87
Major Support: $75
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.
