- The FIL coin chart shows a bullish crossover of the 20 and 50-day EMA
- The FIL/BTC pair was trading at 0.001568 BTC with a gain of 2.73%
- The 24hr trading volume in FIL coin is $1.23 Billion
As mentioned in my previous article on Filecoin, the FIL coin gave a successful retest to its breakout from the $65 level, providing a good entry opportunity for its traders. However, as for now, the price is currently in the midway of reaching its next milestone of the $78 mark. Thus, traders should wait for the price to reach an area of interest to get a proper confirmation of the coin’s next move.
The EMA’s show that the FIL coin has a strong bullish tendency, with the price trading above the critical EMA’s 20, 50, 100, and 200. The chart also shows a bullish crossover with 20 and 50 EMA attracting more buyers to the coin market.
The RSI (BULLISH) value is at 67, indicating a strong bullish sentiment in the FIL coin. However, the investors can also notice the RSI line shows a minor bearish divergence with the price, indicating some weakness in the bullish momentum.
FIL Coin Shows A Reliable Ascending Trendline In The 4hr Time Frame Chart
The FIL coin price is experiencing a steady bullish rally, supported by an ascending trendline. This support trendline has previously provided excellent support to the price and can be used to grab excellent entry opportunities for FIL traders who wish to ride this new rally.
The MACD indicator (BULLISH) shows a bullish momentum in the coin, as both the MACD and the signal line are moving above the neutral zone(0.00). However, the indicator has recently provided a bearish crossover of these, projecting a sell signal.
Conclusion: From the technical perspective, The FIL coin shows a great bullish outlook in its price action, providing a positive signal for trend traders looking for long trades in this coin. Thus, as mentioned above, the price is riding a strong bullish rally, and Fil traders can use the minor pullbacks towards this trendline to grab good long entry opportunities until the trendline is intact.
Resistance- $72, $78