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- 1 FIL price might make a bullish reversal.
- 2 FIL’s price is currently trading at $4.441 while seeing a change of 20% in 24-hour trading volume.
The FIL price is trading in the major bear trend. As was estimated in the previous price action the FIL price remained under the seller’s control; seeing a decline of 30% of its value within the last few weeks, Presently the bulls are making an attempt to take control back of the market. FIL price is trading near its previous support zone. Though it has multiple severe barriers to cross before recovering its previous trend.
The price is trading near a crucial support zone at present. The majority of the technical indicators are presently trading under the bear’s influence on the daily timeframe. On the bigger timeframe price of FIL is trading near its last support zone. It will require the major support of buyers to defend its current support zone as the price can move into dangerous territories if falls further.
The current value of FIL is $4.441, Its overall Market Cap is $1.9B.
The FIL Price may give a bullish breakout
Previously, The price of FIL gained significant support from the buyers near $3.000 after which it made an exceedingly bullish rally of more than 90%. The price of FIL retained more than twice its value in a bullish recovery.
Though the price was facing severe resistance from critical resistance levels and the sellers started overwhelming the market, and the FIL price broke its 16-week support zone.
It was predicted in the previous analysis, after breaking its trend line and a crucial support level the price of FIL can continue its bear trend. The analysis was proven correct when after being overwhelmed by the sellers the price made a downfall, losing 30% of its value.
Technical Analysis
The RSI line is currently taking a retest through the 14 SMA near oversold levels. The present value of the RSI line is 30.24 points and the 14 SMA is providing resistance to it just above it at 30.25 points. At present, the RSI line is suggesting that Price can make an attempt to break its resistance.
The stochastic RSI is trading at the oversold level of 30.01 points. The present situation is presenting a hopeful perspective. The %K line has recently given a positive crossover to the %D line.
Investors Sentiments Regarding the FIL Price
The sentiments of the investors are observing a slightly positive increase in the past few weeks where there is a significant increase in the social engagements rate that indicates that the buyers are getting more engaged regarding the token across various social media platforms.
Technical levels –
Support – $4.000
Resistance – $6.000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and 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.
