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- 1 Filecoin crypto price climbed higher after getting buyers back from the 200-Day EMA.
- 2 The FIL/USD pair reversed after attaining $8 and is struggling to get support near $5.
Filecoin crypto price shows negative development on Tuesday, snapping almost all of yesterday’s gains. The crypto started the week with a positive bias and added over 3% to its market capitalization on Monday. However, the bears made a comeback today and erased yesterday’s gains.
The FIL token is near yesterday’s low and waiting for either side to dominate the tug of war. Both the bulls and bears are in a tough fight and trying to drag the price in their territory.
The closing price of Today’s session may decide the trend for the rest of the week. If the sellers continue to drag the price lower below Monday’s closing. The price may retrace the 200-Day EMA.
On the other side, if the buyers again lift the price higher in the bullish territory, the FIL crypto may surpass the 50 and 20-Day EMAs on the higher side.
Filecoin Crypto Price Technical Analysis
Recently, Filecoin price dropped sharply after suffering rejection near the round level of $8 and slumped, breaking below the 20-Day EMA. The buyers attempted to hold near the 50-Day EMA which the price broke after a small consolidation.
Earlier, the FIL crypto persisted in a strong bullish trend in the past three months and surged from $3 in mid-October to a high of $8 in the 1st week of January, highlighting a strong outlook. However, the long-term trend lies on the positive side as the price has not broken below 200-Day EMA and any major swing low.
Currently, the price has taken a bounce from the 200-Day EMA, suggesting the presence of buyers near it. On the lower side, the 200-Day EMA and $5 level might be the last defending zone for the buyers to keep the long term trend in their favor.
Now, any breakdown below the 200-Day EMA may turn the long term trend bearish and the FIL crypto may experience a sharp selloff.
However, if the bulls hold firmly near the lower levels and surge the price higher again, it may resume its long-term bullish trend and challenge upper levels.
Filecoin Price Prediction January 2024
As per the most optimistic view of our analysts, the FIL price could reach a high of $5.56 by the end of the month. The bearish view of the analysts hopes for FIL crypto to retest the 200-Day EMA which is currently placed at 4.81.
Filecoin Price Prediction 2024
The price prediction for 2024 shows that the Filecoin crypto may rise to a high of $8.81 by the end of 2024 if a positive trend prevails. However, the less optimistic analysts estimate a price target of $7.08 by the end of 2024.
Filecoin Price Prediction 2025
As per the most positive view of our analysts, the FIL price may attain $12.07 by 2025, suggesting an upside potential of 132.38%. On the other hand, the most pessimistic view of the analysts expects the price to reach $9.20 by the end of 2025.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
