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Filecoin price analysis: FIL/USDmoves upwards to $8.44 after a strong bullish run

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TL;DR Breakdown
  • Filecoin price analysis shows a bullish trend
  • FIL/USD support is present at $8.19
  • Filecoin price is facing resistance at $8.56

Filecoin price analysis shows that the FIL/USD pair is currently in a strong bullish run as it makes its way upwards to $8.44 after hitting support at $8.19. The price is facing some resistance at $8.56 but if it can break past this, it is likely to continue moving up towards $9.00.

image 422
Cryptocurrencies prices heatmap, Source: Coin360

Filecoin price analysis shows the FIL/USD pair has been trading in a range of $8.19 to $8.56 and is up by 1.79 percent in the last 24 hours. The trading volume for FIL prices is currently at $255,423,233 while the market cap is at $1,796,402,318. The digital asset is currently ranking position 28 in the overall market as it dominates 1.04 percent of the total market share. The larger cryptocurrency market has had a strong bullish run over the past few days and this has helped to push the prices of most digital assets up.

Filecoin price action on a 1-day price chart: Bulls continue to push prices higher as altcoin hits $8.44

Filecoin price analysis On the 1-day chart, we can see that Filecoin price has been in a strong uptrend for the last 24-hours as it makes its way towards the $9.00 level. The FIL/USD pair entered a bullish zone and is currently trading around $8.44. After a period of slight bearish pressure, the bulls have pushed prices up from the support at $8.19 and are currently challenging the $8.56 resistance.

image 423
FIL/USD 1-day price chart, source: TradingViews

The MACD indicator shows that the bulls have the upper hand as the MACD line (blue) is above the signal line. The RSI indicator is currently at 55.30 and is indicating some minor bearish pressure. However, the bulls are still in control as the price is trading well above the $8.19 support level. The EMA indicator shows that the EMA50 (purple) is currently trading well above the price of candles while the EMA200 (green) is still below the price. This indicates that the bulls are in control of the market as they push prices higher.

Filecoin price analysis on a 4-hour price chart: FIL/USD trades above $8.44

Filecoin price analysis on a 4-hour chart shows that the FIL/USD has been in an overall uptrend since last week as it makes its way up from $4.62 to the current level of $8.44. The pair entered a bullish zone after breaking out from the descending triangle pattern and is currently trading around $8 as buyers aim for $9.00

image 424
FIL/USD 4-hour price chart, source: TradingView

The RSI indicator is currently at 62.77 and is indicating some minor bearish pressure. However, the bulls are still in control as the price is trading well above the $8.19 support level. The MACD line (blue) is currently above the signal line which indicates that the bulls are in control of the market. EMA50 (purple) is currently trading well above the price of candles while the EMA200(green) is still below the price which indicates that the market is in a bullish zone.

Filecoin price analysis conclusion

Filecoin price analysis for today shows a bullish sentiment of the market as the digital asset surged by over 1.79 percent against the US Dollar. The Filecoin price is currently trading at $8.44 and is facing resistance at the $8.56 level. Filecoin is among the few cryptocurrencies which have remained stable amid the bearish market conditions seen today.

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.

William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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