FILIndustry AnalysisNEARNews

FIL Price Took a Uturn; What Next?

2 Mins read

Filecoin price halted near the value of $8.089 and headed downward toward the level of $5.054. The 50 EMA gives support to the price, but if the price breaks the current support, the control of the price will be in the Bear’s grasp.

Filecoin crypto price has been on a downtrend for the past week, as it faced resistance from the higher levels and took support on the 50 EMA. It shows that the bears have been in control and the price has lost its momentum. The crypto has also broken below the key moving averages, which indicates further weakness in recent times.

FIL Crypto has created a negative outlook and vanished the gains it made in the previous month. Filecoin (USD: FIL) crypto has returned to its previous breakout level, which acting as a support support. The price action suggests that the crypto is oversold and could bounce back from the lower levels. However, the crypto needs to show some indications of strength and reversal before confirming a pullback rally.

Filecoin crypto (USD: FIL) price is in a correction phase but trading near to crucial supports. If formed, a bullish candle signals buyers are active and will try their best to rebound. 

FIL crypto currently trading at the level of $5.507 with an intraday rise of 0.31%. If the buyers succeed in defending the current support, the possibility of a bounce back will increase. However, if the sell-off continues and Filecoin crypto drops below lower levels, more downfall is possible.

Buyers tried multiple times to break the higher range and expand upward. However, due to the strong presence of sellers, prices faced rejection. It shows sellers are still active on higher levels. 

File Coin Analysis: Bounce Back Or Crash Down

Filecoin Price Forecast: FIL Price Took a Uturn; What Next?
Source: Filecoin.1D.USD by TradingView

Filecoin price is trading below the downward direction taking support on 50-day and 200-day EMAs, showcasing weakness. However, the Filecoin might bounce back from the current EMAs. 

The MACD generated a negative crossover and the histogram is also red indicating bearishness. The RSI denotes weakness and is near the oversold territory.

The current value of RSI is 45.65 points. The 14 SMA is above the median line at 58.68 points, which indicates that the Filecoin crypto is bearish.

Weekly-Time Horizon Analysis of Filecoin

Filecoin Price Forecast: FIL Price Took a Uturn; What Next?
Source: FIL/USD Crypto Chart By Tradingview

Filecoin crypto has shown sellers’ strength on the weekly charts. The price is trading below the key moving averages. If the price wants to bounce back, it has to surge over the key moving averages and show some strength.

Summary

Filecoin (USD: FIL) technical oscillators also support the bearish trend. The MACD, RSI, and EMA highlight negative signs and imply that the downtrend may continue in the FIL crypto price. The Price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.

Technical Levels

Support Levels: The Filecoin crypto price may find support at $8.089 and $6.518, where it could bounce back or stabilize.

Resistance levels: The FIL crypto price may face resistance at  $5.449 and $4.669, where it could reverse or consolidate.

Source

1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Articles
Related posts
CryptoNews

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…
BNBCryptoNews

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…
CryptoNews

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥

Ailtra.ai will not disclose your account information to any 3rd parties.