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- Filecoin price is trying to sustain after falling from $9.45 mark over the daily price chart.
- FIL crypto is trading above 20 and 50 EMA but still below 100 and 200-days Daily Moving Average.
- The pair of FIL/BTC is at 0.0003528 BTC with an intraday drop of 2.90%.
Filecoin price is trying to recover itself above the $10.00 mark over the daily chart. The token tried to maintain the uptrend momentum but failed to sustain at $11.45 level and lost the uptrend momentum resulting in the bearish momentum till the current level. The token is currently trying to adapt the uptrend momentum to recover again above $10.00 level to register its recovery phase. However, bears may interrupt the uptrend momentum of FIL crypto and they may try to pull the token back towards the lower level. FIL bulls must accumulate themselves to register the token’s recovery phase over the daily chart.
Filecoin price is presently approximated at $8.13 and has lost 5.65% of its market capitalization in the last 24-hour period. In contrast, trading volume has increased by 21.48% in the intraday trading session. This shows that bulls are trying to accumulate themselves to register the token’s recovery phase but bears are currently overpowering the situation. Volume to market cap ratio is 0.2377.
FIL coin price is trying to gain uptrend momentum by gaining the utmost amount of buyers in the intraday trading session. However, the volume change can be seen below average and must be increased above average to let FIL coin soar over the daily chart. FIL coin must attract more buyers in order to register its recovery phase over the daily chart.
Will Filcoin Recover or Bulls Lose the Momentum?
The technical indicators are about to suggest a bearish signal for the movement of FIL coin price. Relative Strength Index showcases the consolidation phase of FIL coin price. RSI is at 57 and is heading slightly towards the overbought territory. MACD exhibist the downtrend momentum of FIL coin. The MACD line is about to cross the signal line downwards resulting in a negative crossover. FIL investors need to wait for any directional change over the daily chart.
Conclusion
Filecoin price is trying to recover itself above the $10.00 mark over the daily chart. The token tried to maintain the uptrend momentum but failed to sustain at $11.45 level and lost the uptrend momentum resulting in the bearish momentum till the current level. The token is currently trying to adapt the uptrend momentum to recover again above $10.00 level to register its recovery phase. However, the volume change can be seen below average and must be increased above average to let FIL coin soar over the daily chart. The MACD line is about to cross the signal line downwards resulting in a negative crossover. FIL investors need to wait for any directional change over the daily chart.
Technical Levels
Support Levels: $7.65 and $6.00
Resistance Levels: $9.45 and $11.45
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
