Filecoin Crypto Prediction: Still No Sign Of Buyers in FIL?

• Filecoin token’s price went up by +1.23% within the last 24 hours.
• However, this cryptocurrency’s price has gone down by -32.64% in the last 5 years.

Filecoin is a Web3 category crypto. Its market cap is $1.4 Billion and it has declined by 0.28% in the last 24 hours. The volume for the crypto has also declined by 14.28%, resulting in $69.8 Million.

Fully diluted market cap for the FIL coin is 6.277 Billion USD, resulting in a circulating supply of 445.987 Million. The derivative volume for the trader has declined by -12.74%, resulting in $118.56 Million. The open interest stands at $71.73 Million.

The long/short ratio of the crypto is 0.9102. The market cap rank of the crypto is #33, as per Coingecko. It has a market cap dominance of 0.133%. The all-time high for the crypto is $236.84 recorded on April 01, 2021, following an all-time low of $2.64. The market is currently trading 21.46% above the all-time low price.

Filecoin Price Technical Analysis in a Daily Time Frame

The consistent decline in the price of the Filecoin crypto has led to the formation of a bearish structure on the chart. This crypto is consistently making a lower low structure, declining from the higher levels.

The FIL coin price is below the 50-day and 200-day Exponential Moving Average lines, according to the EMA analysis. It means that the price is weak and has a death cross on the charts.

The RSI for the crypto has recently advanced to 33.04, i.e. above the oversold level. It shows the weakness and the lack of volume 

Filecoin Volume Analysis

There is no significant change in the volume of the FIL crypto. This represents the lack of interest of traders in the crypto.

Conclusion

Filecoin price has been consistently declining, trading below the Exponential Moving Averages. The RSI is also weak on charts. Also, there is no significant spike or change in the volume of the Filecoin crypto.

Therefore the price of this cryptocurrency may continue to decline unless it breaks above the  $9.675 level. A breakout above the suggested level will lead to a change in the character of the market.

Technical Levels: 

• The support levels for Filecoin Crypto are $2.411 and $3.211
• The resistance levels for the Filecoin Crypto are $5.03 and $6.344

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.