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- Filecoin is hovering around $5.87 with a drop of 12.88% in the last intraday trading session.
- The pair of FIL/BTC is around $0.0002353 BTC with a decrease of 13.39% in the last 24 hours.
Filecoin is bearish, however, buyers are trying to get into the trade. FIL crypto might get some boost as bulls enter the trade. Buyers’ stillness might be over and a change in the momentum of FIL may be witnessed.
Filcoin is currently trading at $5.87 with a drop of 12.88% during the last intraday trading session. Currently, the sellers have a strong grip over FIL. The decreasing price might repel investors.
Existing bearish trend might lead the price of the coin to reach the primary support of $4.960 and it may further drop to the secondary support of $2.756. If the buyers succeed in entering the trade, the price may surge to the primary resistance of $6.824, and if the bullish trend persists, the price may reach up to the secondary resistance of $8.598.
Volume has declined by 18.57% in the last 24 hours. The decrease in volume indicates that the short-selling pressure is increasing. The coin’s price is moving above the 20-, 50-, and 200-days daily moving averages and is still lagging behind the Exponential Moving Average (EMA) of 100 days.
Exploring the Technical Indicators of FIL
The Relative Strength Index (RSI) of Filecoin Cryptocurrency is in the oversold territory. The current RSI is 47.80 (at press time) which is above the average RSI of 45.69. The bullish persistence got the RSI back to normal. MACD and MACD Signal are in decreasing trend.
Conclusion
The market trend of Filecoin is bearish while the bulls are attempting to enter the trade. Filcoin is currently trading at $5.87 (at press time) with a drop of 12.88% during the last intraday trading session. RSI for Filecoin Cryptocurrency is in oversold territory. FIL investors are counting on the bulls to meet their expectations.
Technical Levels
Support Levels: $4.960 & $2.756
Resistance Levels: $6.824 & $8.598
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish 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.
