- Filecoin price is currently seeing a strong downside momentum on the daily chart. It is trading with a loss of more than 11% in the intraday session
- Technical indicators of FIL crypto price suggests a strong downside momentum. In contrast, FIL/BTC pair is also seeing a strong downside trend.
FIL coin price is currently observing a downside momentum on the daily chart and can soon see a new low . Filecoin price has seen a loss of more than 11% on the intraday session and it is trading near the value of $56. The bullish trend of the Filecoin while going upwards can see a halt near $65. The bounceback region of the coin price can be observed near $40. Filecoin price is currently trading below the 50 and 100 Daily Moving Average, with an upcoming negative crossover. The 100MA line of the asset price is near $78, making it a temporary hostile region of the coin. FIL/BTC pair can also see a downside momentum in future. One can invest in Filecoin as per their needs and risk capacity
Filecoin price market dominance along with CMC ranking has seen a recovery in the last few days. The asset price may soon hit the new support in future. The volume to market cap ratio of the asset price suggests a downside momentum in price
FIL Coin Price Technical Indicators Suggests A Downside Momentum
The weekly technical chart of Filecoin hints towards a strong downside momentum in price. The coin price might soon observe a strong bearish momentum in price. The asset price has formed a strong bearish engulfing pattern on the chart and can soon test the lower low. If the price drops down 15 to 20% below the current level then one can see that it may soon test the $40 mark. FIL/BTC pair can also test the lower supports in future. One might forecast a strong downside correction in future.
Conclusion
FIL coin price is seeing a strong downside momentum but can soon test the lower level. FIL/BTC pair can also test the lower support in future. An Investor should do their own due diligence before investing.
Technical Levels
Major Resistance:$75
Major Support:$50