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- The FIL price is bearing a selling pressure and results can be seen over the daily and hourly price chart.
- The crypto asset is moving below the 20, 50, 100 and 200 days moving average
- The FIL/BTC pair is at 0.0002743 BTC which is at an inconspicuous loss of 0.63%.
The FIL price after a recovery is now again facing a strong downtrend movement over the daily price chart. This bearish dominance made the price fall 20% in a week. The bulls need to focus on the coin or else it will again fall to its and time low and it will be difficult for the coin to recover back. The BTC dominance is followed by the other altcoins which now need support to prevent a collapse and sustain in the market. The FIL price is moving significantly below the 5 days simple moving average along with the trading volume which slumped 14% over the intra day trading session. Analysts believe the coin is potent and can do wonders with a small support.
The current price for one FIL coin is hovering at $5.24 with a loss of 1.98% in its market capitalization in the last 24 hrs. The coin has a trading volume of 69 million which is currently facing a loss of 14.80% in the 24 hrs trading session and a market cap of 1.1 billion. The volume market cap ratio is 0.05852.
Short-term Analysis for FIL
A same strong downtrend movement can be observed along with the bulls efforts over the short term (4 hrs) graph. Here we can observe the bulls are trying to oppose the movement but the efforts are not enough, so the coin needs to attract more buyers to make a successful trend reversal.
The technical indicator like MACD is about to give a negative cross as the histograms are fading which clearly indicates the sellers are dominating currently. The relative strength index in support is moving in a downward direction bearing the selling pressure. The RSI value is blow 40 presently.
Conclusion
The FIL price after a recovery is now again facing a strong downtrend movement over the daily and hourly price chart. We can observe the bulls trying to oppose the movement over the short term graph. The volume is at a decrease of 14% over the 24 hrs trading session. The technical indicators indicate a bearish rally ahead. FIL investors need to be alert.
Technical levels
Resistance levels: $5.66 and 6.44
Support levels: $4.79 and $3.8
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
