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Filecoin price prediction: Is it Possible for a FIL Bull to Meet $10 by the End of 2022?

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Filecoin price prediction
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  • Filecoin is again falling towards its yearly support level.
  • The market capitalization decreased by 3.15% in the last 24 hours, which was reported at $1.39 billion.

After a massive selloff, Filecoin got stuck in a range-bound market. Bitcoin reclaimed above $16K this week. Although this is not a significant support level, there is still uncertainty in the currency. Filecoin is particularly susceptible just above the annual low because of the pump and dump. The $4.0 to $4.1 range is a critical demand zone. FIL prices are currently heading towards this important demand area.

Buyers, on the other hand, frequently hedged in this critical area. Similarly, they must maintain asset value. An hourly candle below $4.08 established a bullish order block on November 10. Following that, price movement broke through the negative market structure on the lower time period to go upward. As a result, the return to the lower range provided an excellent purchasing opportunity. Furthermore, the $4.5 level performed as resistance this month.

FIL Crypto on One Hour Chart

Against the USDT pair, Filecoin is trading at $4.29 mark under the press time. Given crypto is down 2.28% in intraday session. Due to this minor sell-off, FIL crypto is again slipping lower towards its annual support level. Similarly, the FIL/BTC pair price is down 1.24%, while it stays at 0.0002614 Satoshis. 

FIL Crypto on Daily Chart 

While on the one hand, Filecoin seems bearish on hourly charts, on the other hand, price trend is observed sideways in the context of daily basis. This sideways trend occurs amidst the lower band and mid band of bollinger band indicators. Similarly, trading volume is low compared to other days. 

Daily RSI is remaining sideways below the semi-line (50 level).

Conclusion 

Filecoin became sideways after hitting the annual low level. Now bulls are preparing to reverse asset trends near the key demand zone. And if they fail to maintain this level, then a more sharp decline may occur. 

Support level – $4.0

Resistance level – $6.5 and $10

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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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