- The trading volume of the FIL in the last 24hr at the time of writing this article is -29%
- The price of FIL/BTC and FIL/ETH at the time of writing this article is 0.0009829 BTC and 0.01625 ETH, respectively
- The price near the Support and 20MA rejected the 100MA
LONG TERM VIEW:-
In the daily time chart analysis, we can see the price is near Support, and we can see the 20MA rejected to cross the 100MA and is a downward trend. Let’s use the technical indicator to see if the price will sustain the Support or break it.
Firstly, we can see the MACD, which is showing red histograms as the MACD line is below the signal line, which is a bearish sign. In addition to that, the RSI is in the neutral zone near 41, and the RSI line is pointing sideways, meaning the bulls and bears are giving each other a good fight. Lastly, we can see the Moving average as the 20MA and 100MA is below the 50MA, which is a bearish sign, and the 20MA is heading towards the 50MA, which is a bullish sign.
SHORT TERM VIEW:-
In the 4hr time interval, we can see the 20MA acting as resistance, as the price cannot move above it. The MACD is showing green histograms as the MACD line is above the signal line, and there is no sign that the price will change its direction. In addition to that, the RSI is in the neutral zone near 35, and the RSI line is pointing towards the oversold zone of 30 this means that the bears are winning the fight against the bulls and driving the price down. Lastly, the 20MA is below both 50MA and 100MA, and we already know the 20MA is acting as a resistance, and there is no sign that the MA will change its direction.
CONCLUSION:-
Looking at both long term and short term, we can see the price is at the Support, but the pressure from the bears is a lot. They might break the Support and take the price down, but the bulls are also not ready to give up as the price made a Doji near the Support, which can also act as a reversal, but it depends on the volume of the bulls, but as of now in the 4hr time interval the bears are winning.
RESISTANCE:-$69,$77
SUPPORT:- $55,$49