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Filecoin price analysis: FIL/USD gains bullish momentum at $7.40

File price analysis
TL;DR Breakdown
  • Filecoin price analysis shows a bullish trend
  • FIL/USD support is present at $7.30
  • Filecoin price is facing resistance at $7.58

Filecoin price analysis shows a bullish trend. Filecoin has seen a price hike of over 5% in the last 24 hours as the market sentiment turns bullish. The FIL/USD pair is currently trading at $7.46 and looks to break past the $7.50 resistance level. The cryptocurrency market has been seeing a lot of positive momentum in the last 24 hours, with most major assets seeing significant gains.

image 562
Cryptocurrencies price heatmap, Source: Coin360

Bitcoin, Ethereum, and XRP have all seen prices rise by over 3% in the last day. However, some altcoins have been outperforming these top three digital assets. One such coin is Filecoin, which has seen its price increase by over 5% in the last 24 hours. Bullish trend has been seen after a breakout of the descending triangle. Immediate support is present at $7.30, and the next level of resistance is seen at $7.58.

1-day Filecoin price analysis: FIL/USD trades at $7.40 after a bullish run

Filecoin price analysis for the day shows a bullish trend in the market. The FIL/USD pair has been on an uptrend since yesterday and is currently trading at $7.40. Support is present at $7.30, and the next level of resistance is seen at $7.58.The market cap for the coin currently stands at $1,576,018,552, and the 24-hour trading volume is at $170,507,185.

image 563
FIL/USD 1 day price chart, Source: TradingView

The Moving Average Convergence Divergence line is on the brink of a bullish crossover, which is a positive sign for the market. The MACD histogram is also in green, which indicates that the bulls have the upper hand in the market at the moment. The Relative Strength Index is currently near the 50-level, which indicates that the market is neither overbought nor oversold.

The Bollinger Bands are also expanding, which is indicative of increased market volatility. Overall, the technical indicators in the 24-hour Filecoin price chart are giving up bullish signals, which supports the current uptrend in the market.

Filecoin price analysis on a 4-hour price chart: Recent development and further technical indications

Filecoin price analysis on the 4-hour chart shows that the market has seen a bullish trend in the last4 hours. The market has been able to make higher highs and higher lows, which indicates that the bulls are in control. The price is currently trading at $7.40, Support is present at $7.30, and the next level of resistance is seen at $7.58.

image 564
FIL/USD 4-hour price chart, Source: TradingView

The MACD line is above the signal line, which indicates that the bulls are in control of the market momentum. The Relative Strength Index is currently near the 60-level, which indicates that the market is currently in the overbought region. The Bollinger Bands are also expanding, which is indicative of increased market volatility. Overall, the technical indicators in the 4-hour Filecoin price chart are giving up bullish signals, which supports the current uptrend in the market.

Filecoin price conclusion

Filecoin price analysis shows that the market is in a bullish trend in the short term. The technical indicators in the 24-hour and 4-hour FIL/USD price charts are giving up bullish signals, which supports the current uptrend. However, the market is currently in the overbought region, which could lead to a price pullback in the near future. Traders should wait for a price dip to enter the market as the long-term prospects for Filecoin remain bullish.

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.

joel

joel

Joel is a Blockchain enthusiast who has been active in the blockchain sector since 2016. He enjoys talking about blockchain and its implications for the future of humanity.He loves content and creating features on cryptocurrency.

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