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- Filecoin is currently in an accumulation zone with an intraday loss of 6.32%. Meanwhile, the FIL/BTC pair is trailing at 0.002724 BTC
- FIL coin technical indicators are in favor of bears. Meanwhile, bulls are nowhere to look for at FIL price.
Filecoin price is currently trailing at $152.6 with a loss of 5.8%. Resistance for the FIL price can be seen while going up at $200. A bounce-back can be seen from $120. It is trading above 50 and 100 Moving Average on the daily chart.
The 50MA (Red) line is at the value of $149.45, making it temporary support for the coin. 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 21, with a market capitalization of $10,608,782,215. FIL volume ($1,852,404,432) has seen a change of 4% in an intraday session.
Technical Indicators Suggest A Consolidated Move For FIL Price
FIL has given more than 537% return from the start of this year. The coin price has jumped from $20 to $230 in a mere span of 3 months. On the weekly chart, FIL price shows a bearish momentum.
In the shorter time frame of the daily chart, it has formed an accumulation zone. If the price goes down up to 10% of the accumulation zone, it would be difficult to retrace back.
A downside rally can be seen in the FIL price in the upcoming days. One should wait for the price action to do its work before making a big move.
RSI (Neutral): It is trailing at the value of 52.87, showcasing its presence in the neutral zone. There is a zero slope formation in RSI, highlighting that price can see a consolidated momentum in the upcoming session. The overall sentiment of the RSI is neutral.
Technical Levels
Major Resistance:$200
Major Support:$120
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.
