thecoinrepublic.com
- 1 The Filecoin crypto price decreased by 6.45% over the past seven days.
- 2 This crypto price is currently trading at $4.991 with a fall of 0.02% in the last 24 hours With a current market cap of $2.52 Billion.
Filecoin price prediction shows the drop of FIL crypto price from the higher level on the daily time frame chart. The FIL crypto needs to attract buyers in order to reach the recovery level of $ 5.00 and then $6.00. Moreover, trading volume has been below average and needs to increase for the Filecoin crypto price to sustain at a higher level.
Filecoin price is down by 6.45% over the past 7 days, while the price action shows that the FIL price is still under the sellers’ influence. Bears are trying to drag Filecoin crypto prices toward the lower trendline support.
Filecoin needs to attract buyers in order to surge toward the upper trendline. Investors and traders in Filecoin crypto need to wait for any directional change on the daily time frame chart for further action.
Furthermore, FIL crypto is trying to BREAK above 20, 50, and 100-day exponential Moving Averages. Filecoin price has lost 15.34% in a month and gained 17.70% in the last three months. Moreover, the FIL price has gained around 20.26% in the last six months and has lost 27.82% year to date. It confirms the facts regarding FIL crypto’s bearishness in upcoming sessions.
Will Filecoin Bounceback from the Current Level?
If it can hold this level, the Filecoin price could continue to go up and reach the first and second targets of $5.00 and $8.00. However, if the FIL price cannot hold this level and falls, it might hit the nearest support levels of $4.80 and $4.00.
At the time of writing, Filecoin crypto (USD: FIL) is trading above the 50 and 200-day EMAs (exponential moving averages), which are supporting the price trend.
Furthermore, if more selling volume adds up then the price might break below supporting SMA’s by making lower highs and lows and enhancing the bearishness on the daily chart. Therefore, the FIL price is anticipated to move downwards giving bearish views on the daily time frame chart.
Technical indicators suggest the downward momentum of the FIL crypto price. The relative strength index shows the downtrend momentum of Filecoin crypto. The RSI was at 42.54 and is heading towards the neutral to be oversold.
MACD shows the downside trend of FIL crypto price. The MACD line is beneath the signal line after a negative crossover. Investors in FIL crypto need to wait for any directional change on the daily time frame chart.
Summary
Filecoin (USD: FIL) technical oscillators and indicators support the bearish momentum. The MACD, RSI, and EMA are highlighting negative signs and imply that the downtrend may continue in the FIL crypto price. Filecoin Price action indicates 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: $4.80 and $4.00.
Resistance Levels: $5.00 and $8.00.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.