- Filecoin price is currently observing a strong downside momentum on the daily chart which can lead it to lower levels. It is trading with a loss of more than 9% in the past 24 hours
- FIL price technical indicators suggests a strong upside momentum for the price. In contrast, FIL/BTC pair can also observe a new low in the future
FIL coin price is observing a downside momentum and can see a new low in the future. Filecoin price has observed a loss of more than 6% in the past 24 hours and is trading near the value of $74. The upside momentum of FIL might see a halt near the value of $85. The bounceback region in the asset price can be seen near $50. Filecoin price is currently trading above the 50 and 100 Daily Moving Average, with a negative crossover. The 100MA line of the asset price is near $65.9 making it a support region for the coin. FIL/BTC pair can also observe a new high in the upcoming days. One can invest in Filecoin as per their needs and price action.
Filecoin price market dominance along with the market cap has seen a decline in the past few days. It has to cover more than 85% of its current value to breach its all time high. The volume to market cap ratio of the coin suggests a strong downside momentum for the future
FIL Coin Price Bears May Push It To A New Low
The weekly technical chart of Filecoin suggests a strong downside momentum in the upcoming weeks . The coin price might see a reversal once the market corrects itself. The asset price has formed a strong bearish pattern on the daily chart which can lead it to a new low. If the price drops down 15 to 20% below the current level then a strong downtrend in price can be seen in future. FIL/BTC pair is also seeing a downtrend which can lead it to a new low. One might forecast a strong downtrend before an upside correction.
Conclusion
FIL coin price is observing a strong downside momentum which can lead it to a new low in the future. FIL/BTC pair can also observe the lower support before jumping to a new high. An Investor should do their own due diligence before investing.
Technical Levels
Major Resistance:$85
Major Support:$50