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- The current price of Filecoin is $5.76 with a growth of 6.80% during the intraday trading session.
- The FIL/BTC pair is trading at 0.0002051 BTC and has inclined by 2.76% in the last 24 hours.
- FIL price is below the 20,50,200 Daily Moving Averages and is lagging behind the 100-days Exponential Moving Average.
Filecoin is returning. The coin seems to be recovering from the bearish trend. The recovering FIL is being pushed by the buyers to follow the upward trend. The coin might regain its potential, but sellers are creating dips in the FIL price action over the daily price chart.
The price of Filecoin is currently around $5.76 and has increased by about 6.80% during the intraday trading session. The FIL/BTC pair has grown by 2.76% and is currently trading at about 0.0002051 BTC. If the sellers attempt sink FIL succeeds, the price will get close to the primary support level of $4.93. The price might reach the secondary support of $2.75 and this indicates that investors are joining the action. The price of FIL might be pushed to its primary resistance at $6.80. If the bears do not act, the price might reach the secondary resistance of $8.59. The bears will try to influence the price and bring a negative trend, but bulls are trying to bring upward momentum. The FIL market is fluctuating and the volatile market is making it difficult for investors.
The volume of FIL has increased by about 3.88%. This indicates that buyers are seeking to enter the trade. The volume-to-market cap ratio for FIL is 0.0786. The bulls must exert more effort if they want to meet market forecasts. The bulls will struggle to build a strong market for FIL because the bears want to destroy the bulls. FIL price is below the 20,50,200 days Daily Moving Averages and is lagging behind the 100 days Exponential Moving Average.
Technical Analysis
The Relative Strength Index is approaching neutrality. The current RSI is 49.05, which is above the average RSI of 47.65. The bulls worked hard to get the RSI back to neutrality and the sellers might try to drive the RSI to the oversold zone. Meanwhile, investors wait for any directional change over the daily price chart. The MACD and MACD signal have intersected giving the negative crossover.
Conclusion
The current market trend of Filecoin is volatile. The fluctuating price of FIL is making it difficult for investors to move on either side. The price of Filecoin is currently around $5.76 and has increased by about 6.80% during the intraday trading session. The volume has also inclined indicating a decrease in short-selling pressure. The RSI also seems to be moving toward neutrality. The MACD and MACD signal have intersected giving the negative crossover.
Technical Levels
Support Levels: $4.93 and $2.75
Resistance Levels: $6.80 and $8.59
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.
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.
