- Filecoin (FIL) is moving towards a downsloping trendline.
- The FIL price is being seen above the mid-band of the Bollinger Bands indicator.
- FIL Coin’s market cap is up 3.5% to $1.77 billion.
The cryptocurrency’s entire market cap is attempting to recover its losses, resulting in a 2.8% gain in the last 24 hours. Filecoin is also looking promising, as the bulls have kept the price in the green zone for several days. This week, FIL crypto is up 3.7%.
The bulls were quite active over the last 7 days, and the price jumped beyond $6.0 last night. Almost immediately, opposition gave way to support. Buyers are particularly actively purchasing FIL currency near the $6.5 mark versus the USDT pair. During today’s rally, the cryptocurrency has already broken over the short-term barrier level.
For 45-days, the bears manage to dominate the FIL price below the descending trendline, where the bulls are again approaching this horizontal bullish barrier against the USDT pair. Buyers may see an increase in volatility going forward. Furthermore, Filecoin is trading at 0.0003023 Satoshis with a gain of 1.8% along with the bitcoin pair.
Trading volume reflects the hidden accumulation in Filecoin. Similarly, speculators say $346 million is an increase of 62%. Therefore, on the daily price scale, the Bollinger Bands indicator is watching FIL price above the middle band.
Buyers Are Waiting for Sell-off at $10 Level
The daily RSI indicator is forming a high-low after reversing from the ascending trendline from the oversold zone. But the MACD indicator appears to be flat in negative territory in terms of the daily price scale.
Conclusion
Filecoin price (FIL) is approaching a downsloping trendline where bulls can see a slight downside. Above this resistance area, the bulls are near $10. There is open space for further pushing FIL price above the ideological level of
Support levels- $6.0 and $5.0
Resistance level- $10 and $17
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.