- The FIL coin chart shows the 50 and 200-day EMA is on the verge of giving a golden crossover
- The FIL/BTC pair was trading at 0.001579 BTC with a gain of 5.16%
- The 24hr trading volume in FIL coin is $1.08 Billion
On 21st August, the FIL coins gave a strong breakout of another critical resistance of $76.2, displayed by a long green candle and a significant volume spike. The price is currently in its test phase, which validates if the breakout is a genuine one or not. Thus, if the price manages to sustain above this level, the FIL traders can grab an excellent long opportunity in this coin.
The crucial EMA’s show that the FIL coin has a strong bullish tendency, with the price trading above the 20 and 50, 100, and 200 EMA’s. Moreover, The chart shows a possibility of double crossover of these EMA’s, i.e., a crossover between 20 and 100 EMA and a golden crossover of the 50 and 200 EMA.
The RSI (BULLISH) value is at 65, indicating a strong bullish sentiment in the coin. However, the RSI line shows some bearish divergence with the price, indicating weakness in the bullish rally.
FIL Coin Shows A Breakout From A Double Bottom Pattern
The FIL coin was forming a double bottom pattern in the 4hr time frame chart. The key resistance of this pattern was the same as the crucial level mentioned above, i.e., $76.2. Furthermore, the price provides a decisive breakout from this level, and the current retest level should offer a great entry opportunity for traders.
Moreover, the chart also shows quite a reliable ascending trendline leading to the uptrend in the FIL coin.
The MACD indicator (BULLISH) shows that both the MACD and the signal line are moving higher than the neutral zone(0.00), indicating a bullish momentum in the coin market.
Conclusion: From the technical perspective, the FIL coin presents a bullish outlook on its price action and indicator, making it a favorable scenario for trend traders seeking long opportunities in the Crypto market.
Thus, as mentioned above, the price is currently in the retest phase after the breakout of the $76.2 mak. Therefore, if the price sustains above this level, the FIL traders can grab the nearest target $86.2 mark.