- Filecoin price analysis is bullish today.
- FIL/USD set a higher low at $65.5 yesterday.
- Bullish momentum has returned.
Today’s Filecoin price analysis is bullish as a fresh higher low was established at $66, with subsequent momentum taking control. As a result, we anticipate that FIL/USD will continue to rise throughout the next 24 hours.
Cryptocurrency heat map. Source: Coin360
The market was in a mixed mood over the previous 24 hours. Bitcoin rose 6.8%, while Ethereum increased by 1.02%, making it the market leader. Meanwhile, Shiba Inu (SHIB) continues to lead the pack, having risen more than 70% since its low of December 17th.
Filecoin price movement in the last 24 hours: Filecoin finds support at $66
The cryptocurrency’s price ranged from $68.02 to $73.84 during the intraday session, which suggests significant volatility over the previous 24 hours. Volume has increased by 33%, and the market capitalization
FIL/USD 4-hour chart: FIL to test $75 resistance next?
We may see a bounce from the $11.00 support, with a target of $20. On the 4-hour chart, we can easily observe Filecoin price action moving closer to previous highs, suggesting that further gains are on the way.
Over the past week, Filecoin price action has seen a resurgence of bullish momentum. After trading in a range for weeks, a severe dive on September 26th set a new monthly low of $50.
On October 2, the pair resumed its progress and shot up to $60.61 within a few hours. It remained above $55 for several days before resuming its advance on October 1. Finally, after breaking through the previous key support level of $70-$75, FIL/USD found support in that area once again.
Yesterday, the Filecoin price fell to $66, where a new local low was established. Bulls, on the other hand, took over the momentum from there and sent the price back up to previous highs earlier today.
Filecoin Price Analysis: Conclusion
Today’s Filecoin price analysis is bullish, as a new higher low was established at $66 following a minor drop early yesterday. However, later momentum took over, slowly pushing FIL/USD back toward previous highs.