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Filecoin price analysis: FIL/USD to spike to $90 in the next 24 hours

TL; DR Breakdown

  • Filecoin began the day in bullish momentum.
  • The long-term picture for Filecoin is bullish.
  • Filecoin trading volumes have increased by more than 32 percent in the last 24 hours.

Filecoin price analysis: General rice analysis

Filecoin began the day in bullish momentum. Buyers controlled FIL/USD price in the early trading hours sending the price upward in a rising trend to the intraday highs of $83.2. The sellers could not continue watching as the bulls take the prices higher in a rising wedge. And so, the sellers came into the market in large numbers causing resistance at the intraday highs of $83.2. The bears dropped Filecoin price in an inverted triangle to the lows of the day at $80.3.

The long-term picture for Filecoin is bullish, even if the short-term chart indicates a bearish momentum. The market has established a higher low over the last 24 hours, reaching $80, suggesting that price rises are likely moving forward. We anticipate FIL/USD to rise higher today and aim for $90 before the daily chart ends.

Source: Coin360

The most valuable digital asset is presently up by a modest amount, with a minimal price increase yesterday. One Bitcoin (BTC) was worth $45.2K as of publication. The second-largest digital currency (ETH) is up 2 percent and trades at $3.3 today. The Binance coin, on the other hand, is bullish today, although it provides a slightly bearish signal and may fall in value throughout the day. FIL/USD has seen a price increase of about one percent, and it is currently trading at $82.2.

Filecoin price movement in the last 24 hours: Filecoin established a higher low at $80.3

The trading price of Filecoin has ranged between $80.31 and $83.21 over the past 24 hours, suggesting less volatility. Filecoin trading volumes have increased by more than 32 percent; Filecoin total daily trading volumes are $2.1 billion while the total market capitalization is up by 2 percent, making it $8.6 billion. Meanwhile, Filecoin has a market dominance of $0.42 percent.

FIL/USD 4-hour chart: FIL starts to rally again

On the four-hour time scale, we can see that Filecoin is beginning to rise again as bulls have reclaimed their footing.

Source: Tradingview

The Bollinger bands are wide on the four-hour price analysis chart, indicating that the cryptocurrency is trading in a highly volatile market. The FIL/USD price is approaching the higher band, suggesting that the currency will be bullish in the next few hours.

The value of Filecoin has been volatile lately, with a wide range observed throughout the previous week. Bulls resumed to rapidly push FIL/USD higher during the first days of September after consolidating above $70 support at the end of July.

Filecoin Price Analysis: Conclusion

According to today’s Filecoin price analysis, the coin is expected to rally to $90 in the next 24 hours, if only the bulls continue dominating the market. The balance of power indicates that the buyers have more strength than the sellers hence the surge.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

This post was last modified on September 12, 2021 8:54 am

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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