Filecoin price analysis: FIL/USD Hopes to retrace to $90 this week?

Filecoin Price Analysis

TL;DR Breakdown

  • Filecoin price analysis has turned neutral.
  • The Filecoin market is quite stable for now.
  • Overall, the cryptocurrency market is bearish today.
  • RSI and MACD indicators hint an increase in price in the coming hours.
  • Good chances for Filecoin to hit the $90 mark this week.
  • It is a suitable time for day-traders to make some short-term profits.

Our Filecoin price analysis today reveals that the market has been bullish. However, significant fluctuation in the price was not observed. For the most part, the price today kept hovering near yesterday’s closing price of $84.696 indicating market stability.

Filecoin price analysis: FIL/USD Hopes to retrace to $90 this week? 1
Cryptocurrency heat map by Coin360

The entire market today seems to have a bearish sentiment though. Based on the heat map above, Bitcoin marked a decrease of 0.63 percent. On the other hand, Ethereum lost its value by over 4 percent.

While Filecoin has not undergone a significant increase, the market has mostly just retraced the slight dips from yesterday.

Filecoin price analysis: FIL/USD Hopes to retrace to $90 this week? 2
Filecoin Price Chart by TradingView

The 1-Day Filecoin Price Analysis graph reveals the current price of $86.527, which is close to $84.696 (yesterday’s closing price). Furthermore, the RSI is currently at 54.24, hence suggesting that the market is somewhat balanced.

The gradient of the RSI curve is nearly zero, which is an indication that the market is going to remain stable for the next couple of hours.

24-hours Filecoin price analysis – Bullish signals emerge

Filecoin price analysis: FIL/USD Hopes to retrace to $90 this week? 3
Filecoin Price Chart by TradingView

Overall, the Filecoin market has not undergone major changes in the last 24 hours. Exactly 24 hours ago, Filecoin was worth $84.096 each. And in the current moment, the coin is hovering around $86. So, while some improvement has been observed, the price difference is not significant.

Currently, Filecoin has a market cap of $9,303,757,257 based on which, the coin ranks on the 23rd spot.

As the RSI graph on the hourly chart suggests, the next few hours might result in some improvement in the price. The graph has a steep slope which is currently touching 59.77 but is rapidly rising. Not only that, but the histograms in the MACD analysis are also in green.

This might be a suitable time for any short-term investment before the Filecoin market dips again.

FIL/USD 4-hour chart: Will Filecoin hit $90?

Filecoin price analysis: FIL/USD Hopes to retrace to $90 this week? 4
Filecoin Price Chart by TradingView

Currently, the RSI graph on the 4-Hour chart has a steep slope. Furthermore, we can see that the last 3 periods of 4 hours each have had bullish sentiments. Based on this, the market is expected to be pushed further to the overbought side by the bulls, as they seem to be in full swing right now.

The improvement in the MACD analysis also suggests the same. Furthermore, a crossover in the MACD analysis is just about to happen, after which the market might go on a bullish run. So, there is a high likelihood of Filecoin reaching the last high of $90.5 which was observed on the 16th of September 2021.

Filecoin price analysis: Conclusion

Overall, the current hour could prove to be lucky for those who want to gain some short-term profits on quick investments That is because all indicators point towards some improvement impending in the next few hours. If the trends remain the same, Filecoin is very likely to hit $90 by the end of the day today. Though, once (and if) it hits the $90 level, another dip in the market will be expected.

While you wait for the price of Filecoin to rise further, consider reading out comprehensive guides on crypto mining.

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.

Mary Brenda

Mary Brenda

I'm a content marketer with interests in emerging niche including Blockchain, Cryptocurrency, Esports, Video games and other tech. I've previous worked with a variety of clients, such as ASUS ROG, BitcoinBink, ESL India, OMEN by HP, Red Bull and more.

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