- Filecoin price analysis is bullish for today.
- FIL/USD found support at $80 yesterday.
- Filecoin is ready to rally today.
Filecoin price analysis is bullish for today as the market has set a higher low over the last 24 hours above the $80 mark. Therefore, we expect FIL/USD to rally higher today and look to reach above the $94 previous high next week.
The cryptocurrency market traded in the green over the last 24 hours. Bitcoin saw a slight gain of 0.11 percent, while Ethereum was up by 0.15 percent. Cardano (ADA) continues to dominate, with a gain of 12.19 percent.
Filecoin price movement in the last 24 hours: Filecoin established a higher low at $80
FIL/USD traded in a range of $79.61 – $84.91, indicating mild volatility over the last 24 hours. Trading volume has decreased by 30.76 percent and totals $1.25 billion, while the total market cap trades around $8.68 billion.
FIL/USD 4-hour chart: FIL starts to rally again
On the 4-hour chart, we can see the Filecoin starting to push higher today as bulls have regained momentum.
Filecoin price action traded with a huge range over the past week. After consolidating above the $70 support during the end of July, bulls started to rapidly push FIL/USD higher during the first days of September.
Resistance eventually was found at $120, meaning a gain of 70 percent in a week for Filecoin. However, what followed on the 6th of September was a slight retracement to $105 first, and another drop on the 7th of September back to the $70 support.
Later this week, the Filecoin price action started to recover and moved to $94. From there, another slight retracement was seen yesterday after some consolidation on Thursday. Yesterday, support was found at $80, with some bullish momentum returning earlier today.
Filecoin Price Analysis: Conclusion
Filecoin price analysis is bullish for today as a higher low was set yesterday above $80, and consolidation was seen overnight. Therefore, we assume bulls have gathered momentum to push FIL/USD higher again over the weekend.
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