The Market Periodical
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
Contact Us
  • Login
The Market Periodical
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
Contact Us
The Market Periodical
Home Cryptocurrency

FIL token price analysis: FIL token price forms a strong bullish pattern.

Ritika Sharma by Ritika Sharma
January 23, 2023
in Cryptocurrency, Market, News
0
FIL Price Analysis
200
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
  • FIL token price has risen to the supply zone after showing a strong bullish movement in the past 24 hours.
  • FIL token price is forming a flag and pole pattern on a daily time frame.
  • The pair of FIL/BTC is trading at the price of 0.0002191 with an increase of 1.29% in the past 24 hours.
Source: FIL/USDT by tradingview

FIL token price has risen to the supply zone following a strong bullish rally in the overall cryptocurrency market. Despite the strong bullish pressure the token price is yet to break the important supply zone on a daily time frame.

As the market rose, the token price was seen making new highs in a 4 hour time frame,changing the price structure. Although, on a daily time scale the token price is yet to break the supply zone. As of now, the token price is trading above the important supply zone of 50 and 100 Moving Averages. Moving upwards the token price can be seen resting at these MAs. Investors should wait for a proper price action before taking any further action.

Related articles

CAKE Price Analysis: CAKE noted a gain of 6.50% amid bearishness

CAKE Price Analysis: CAKE noted a gain of 6.50% amid bearishness

June 3, 2023
ARB Price Analysis: ARB shows a massive spike of 8%, What next?

ARB Price Analysis: ARB shows a massive spike of 8%, What next?

June 2, 2023

At present, the FIL token price is trading at the upper band of the bollinger band indicator after bouncing off the demand zone following a strong bullish pressure. Currently, the token price is trading at the upper band of the bollinger band indicator. Volumes have increased leading to confirmation of the recent bullishness. Although, investors should remain cautious and wait for a proper signal of reversal.

The FIl token price is forming a flag and pole pattern on daily time frame

Source: FIL/USDT by tradingview

Average Directional Movement Index: The ADX curve has followed the footsteps of the recent bullish movement, previously, the curve was trading below the mark of 20, however as the price rose the ADX curve was seen dipping out of the 20 mark zone. As of now, the ADX curve has turned upwards resulting in the bullish momentum. Currently, the ADX curve is transacting at 43.48 on a dial time frame.

Moving Average Convergence Divergence: MACD indicator is positive from the past couple of weeks after a strong bullish rally the MACD shows the bullish signal. The blue line crossed the orange line on the upside. This triggered the bullish signal way back. Recently, the MACD lines were seen widening positively, indicating a bullish momentum in the upcoming trading days.

Relative strength index: The RSI curve was previously trading below the halfway mark of 50 as the token price was continuously failing to surpass the supply zone. However, the token price was able to surpass the supply zone on a smaller time frame ,which resulted in the RSI curve crossing the halfway mark of 50. Currently, the RSI curve is trading at the level of 71.42.

Conclusion: At present, as per the price cartoon the token price is bullish. The technical parameters suggest the same. However, the token price is yet to cross the supply zone with a strong bullish movement. Investors should remain cautious and wait for the proper breakout and then act accordingly.

Support: $4.28 and $4.18
Resistance: $5.28 and $5.58

Tags: Cryptocurrency
Share80Tweet50
Ritika Sharma

Ritika Sharma

Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

Related Posts

CAKE Price Analysis: CAKE noted a gain of 6.50% amid bearishness

CAKE Price Analysis: CAKE noted a gain of 6.50% amid bearishness

by Antonio K Smith
June 3, 2023
0

CAKE price is showing a massive bounce in the intraday session.Buyers looking to regain their strength soon. CAKE token price...

ARB Price Analysis: ARB shows a massive spike of 8%, What next?

ARB Price Analysis: ARB shows a massive spike of 8%, What next?

by Antonio K Smith
June 2, 2023
0

ARB token shows bullish indications on the charts.Bulls succeeded in attaining strength and holding the gains. Arbitrum token price is...

Litecoin Price Prediction: Will this time LTC breakout $100 mark?

Litecoin Price Prediction: Will this time LTC breakout $100 mark?

by Ritika Sharma
June 2, 2023
0

Litecoin Price Prediction suggests a significant rise in coming months.LTC Price sustains above the 50 and 200 day EMA shows...

Aptos Price Prediction: Will APT Price breakout of $10.00?

Aptos Price Prediction: Will APT Price breakout of $10.00?

by Antonio K Smith
June 2, 2023
0

Aptos Price Prediction suggests a rise and bullish trend reversal is possible.APT Price is stuck into the narrow range of...

ICP Price Analysis: ICP defends the support showing a bounce

ICP Price Analysis: ICP defends the support showing a bounce 

by Nancy J. Allen
June 2, 2023
0

Bulls showed their aggression and a doji candle was formed on charts.ICP is still willing to retest the 20 day...

Load More
  • Trending
  • Comments
  • Latest

Kadena price analysis: KDA coin is following the upwards trendline after forming the bullish pattern

February 9, 2022
cryptocurrency

AQUA Airdrop is set to Roll out!

January 7, 2022
AMP Price Analysis: AMP Coin Trading in Horizontal Range-Bound consolidates, Will it be able to retain up to $0.088?

Will Amp Token’s Escalating Demand Drive Its Price To $1?

February 21, 2022
MIOTA Price Analysis: IOTA Token Price Struggles To Sustains Higher Than $1 Mark

Firefly Wallet Powered by IOTA, Starts Staking on Shimmer and Assembly Tokens

December 23, 2021
CAKE Price Analysis: CAKE noted a gain of 6.50% amid bearishness

CAKE Price Analysis: CAKE noted a gain of 6.50% amid bearishness

0
Bitfinex

Bitfinex Lets Users Earn on their Bitcoin with Celsius

0
Binance Burned the Highest Number of BNB Tokens Till Day Worth $68 Million

Binance Burned the Highest Number of BNB Tokens Till Day Worth $68 Million

0
Cryptocurrency

U.S. Congress Members Have Introduced 40 Bills on the Subject of Cryptocurrencies

0
CAKE Price Analysis: CAKE noted a gain of 6.50% amid bearishness

CAKE Price Analysis: CAKE noted a gain of 6.50% amid bearishness

June 3, 2023
Avorak

Lost money trading Bitcoin? Avorak is here to save the day

June 3, 2023
ARB Price Analysis: ARB shows a massive spike of 8%, What next?

ARB Price Analysis: ARB shows a massive spike of 8%, What next?

June 2, 2023
Litecoin Price Prediction: Will this time LTC breakout $100 mark?

Litecoin Price Prediction: Will this time LTC breakout $100 mark?

June 2, 2023
  • Home
  • Contact Us
  • SUBMIT PR

© 2022 The Market Periodical

 
No Result
View All Result
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
  • Contact Us

© 2018 JNews by Jegtheme.

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password?

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?