Ethereum
$ 1,226.58 1.48%
Solana
$ 40.44 2.35%
Dogecoin
$ 0.077112 12.13%
ApeCoin
$ 4.86 6.04%
Bitcoin
$ 21,353.00 0.44%
BNB
$ 239.42 0.12%

Filecoin price analysis: Bearish obstacle restricts price from crossing $20.2 edge

Filecoin price analysis Bearish obstacle restricts price from crossing edge

TL;DR Breakdown

  • Price has been reduced to $20.25.
  • Filecoin price analysis shows downtrend.
  • Support at $14.61 is quite strong.

The most recent Filecoin price analysis indicates a slight decrease in coin value throughout the past 24-hours. Although the market was following a strong bullish trend in the last week, the circumstances are changing for the sellers. Currently, the bears are at the lead as the price dropped to $20.25 during the day. There are high chances that the cryptocurrency will encounter further bearish resistance in the upcoming week.

FIL/USD 1-day price chart: Cryptocurrency value depreciates up to $20.25 edge

The one-day Filecoin price analysis shows a subtle decline in its market value as the selling momentum grows. The past few days proved quite favorable for the buyers as a bullish current-controlled the market. But today, the price curve again took a downturn due to bearish resistance. The FIL/USD value is now $20.25, and a further decrease can be expected. The price is still higher than its moving average (MA) value, i.e., $19.31.

Filecoin price analysis: Bearish obstacle restricts price from crossing $20.2 edge 1
FIL/USD 1-day price chart. Source: TradingView

The volatility is increasing, which means that the ongoing downtrend is expected to extend for the further week as well. The upper Bollinger band shows its value at the $33.88 position, whereas the lower Bollinger band displays its value at $14.61 points. The Relative Strength Index (RSI) score is close to the under-bought range and is currently standing at 31.25.

Filecoin price analysis: FIL/USD devalues up to $20.25 as bears return

The bears are also dominating the four-hour price chart as the market followed a downward trend in the past few hours. The bears have successfully broken through the bullish wave by taking the price down to $20.25 extreme. The selling momentum will likely intensify in the coming hours, as the bears are regaining their strength. Because of the bearish drift, the price is below the moving average value, i.e., $20.38.

Filecoin price analysis: Bearish obstacle restricts price from crossing $20.2 edge 2
FIL/USD 4-hours price chart. Source: TradingView

The Bollinger bands are converging, indicating decreasing volatility, and a price rise will follow in the next few hours. The upper value of the Bollinger bands indicator is now standing at $21.01, whereas its lower value is found at $18.5. The RSI graph shows a bearish curve as the score was brought down to 55.05 by the sellers.

Filecoin price analysis: Bearish obstacle restricts price from crossing $20.2 edge 3
FIL/USD technical indicators chart. Source: TradingView

The overall analysis shows that cryptocurrency has been following a declining trend for the past few months. This is being further confirmed by the technical indicators chart, which gives out a selling signal. The indicators ratio is that 12 indicators are on the selling point, ten indicators are on the neutral, while only four are standing on the buying point.

The Moving Averages Indicator predicts a bearish trend by giving out a strong selling signal. We can see that 12 indicators are in the selling zone, two indicators are in the buying, whereas only one is in the neutral zone. On the other hand, the Oscillators are predicting an upward trend as a rise in price was recorded earlier this week. Nine oscillators stand at the neutral point, two oscillators at the buying while zero are at the selling point.

Filecoin price analysis conclusion

The daily and hourly Filecoin price analysis confirms that the price took a downturn in the past 24-hours. The bears are struggling to overcome the bullish momentum, and so far, they have been successful as the price moved down to $20.25. At the same time, the four-hour price chart displays red candlesticks and the bears, which have been dominating for the past few hours.

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.

Related News

Hot Stories

Ripple price analysis: XRP/USD set to break above $0.54 overnight
Could You Become A Millionaire By Adding These Cryptocurrencies To Your Portfolio - Polkadot (DOT), And Logarithmic Finance (LOG)
Shiba Inu price analysis: SHIB continues to rise with $0.00001350 in sight
Ethereum price analysis: ETH swiftly breaks $1,250, strong upside next week?
The Crypto Coins That Will Make a strong Impact In 2023: CashFi (CFI), Polkadot (DOT), and Huobi Token (HT)

Follow Us

Industry News

Mastercard survey: 50% of Latin Americans use crypto
Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b
Bitpanda lays off workers amid the market decline
Coinbase to launch Nano BTC features aimed at retail traders on June 27
Namibian University will offer master's degree in blockchain technology soon