- Filecoin price over the monthly chart is trying to bounce back after testing its 100-day moving average line.
- The crypto asset jumps above its vital moving averages of 20, 50, 100, and 200-day lines, but volume action activity is lower.
- The pair of FIL/BTC is trading under a minor loss of -0.45% CMP at 0.00181 BTC, and the ratio of FIL/ETH is CMP at 0.024 ETH with an intraday drop of -4.93%.
Filecoin price moving higher over the monthly chart after testing its critical support lines of 100 and 200-DMA. The crypto asset resumes its uptrend over the chart after facing a sharp decline from the higher levels. The crypto asset finds good support of 100 and 200-day MA lines, and multiple-time recovery is observed. Volume at the chart is recorded lower and falls below the average line, which needs to grow for sustainable positive momentum.
If the coin sustains above its short-term moving averages of 20 and 50-day lines, we can see the next lap of bullish momentum. Although, the short-term moving averages of 20 & 50-Day lines have already given a positive crossover. Support on the lower side is $71.90 and $68.75, whereas resistance on the higher side is $97.50 and $109.
Filecoin price is facing rejection on the higher side
Filecoin price at the 4-hour time frame is facing rejection on the higher side, and now the token is showing some sign of retracement. Over the weekly chart, the filecoin token is projecting minor pullback from higher levels after a good recovery from the lower side. Meanwhile, the technical parameters are gradually turning negative but need more clarity. Currently, Filecoin is trading at $84.98 with an intraday action of -0.92%, and the volume to market cap ratio is at 0.162.
Relative Strength Index (BEARISH): Filecoin price RSI is heading downward after facing rejection on the higher side of the weekly chart. In contrast, the RSI trades on a bearish note and heading towards the oversold zone, now CMP at 49.
Moving Average Convergence Divergence (NEUTRAL): The daily chart indicates a neutral trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) and the seller’s line (red) overlaps.
Support levels: $71.90 and $68.75
Resistance levels: $97.50 and $109.