logo

Filecoin price analysis: FIIL/USD shows bullish potential at $8.17

Filecoin price analysis
TL;DR Breakdown
  • Filecoin price analysis shows a bullish market sentiment
  • Filecoin prices are facing resistance at the $8.34 level
  • Support for FIL prices is present at $7.86
image 597
Cryptocurrencies price heatmap, Source: Coin360

Filecoin price analysis shows a bullish trend in the FIL/USD market. The prices are currently trading at $8.17, and they have shown an increase of over 4% in the last 24-hours. The market is trading above the $8.00 level, which is a key support area. The prices are facing resistance at the $8.34 level, which is the next key target for the bulls. On the downside, the prices are likely to find support at the $7.86 level.

Filecoin price analysis shows that the FIL/USD market is in a bullish trend in the short term. The prices are trading above the key support level of $8.00, and they are likely to continue to rise in the near term. The next key target for the bulls is the $8.34 level, and a break above this level could see FIL prices rallying towards the $9.00 level. On the downside, support is present at the $7.86 level, and a break below this level could see FIL prices falling towards the $7.50 level.

Filecoin price action on a 1-day price chart: FIL/USD prices look to break above the $8.34 resistance

Filecoin price action on a 1-day chart, FIL/USD prices look to break above the $8.34 resistance level. The market is currently trading in a bullish trend, and the bulls are looking to break above the $8.17 mark. The market cap is increasing, the market is currently trading at $1,733,550,754 and the 24-hour trading volume is at $305,765,858.

image 598
FIL/USD 1-day price chart, Source: TradingView

The Relative Strength Index (RSI) is currently at 58.47 which indicates that the market is in a bullish trend. The MACD indicator is currently in bullish territory, and the MACD line is above the signal line. The Stochastic indicator is currently in the overbought territory, and a bearish crossover could see prices falling towards the $8.00 level. The technical indicators show that the bulls are in control of the market sentiment in the near term.

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

On a 4-hour chart, the Filecoin price analysis shows that the prices are trading above the $8.00 level. The market is in a clear uptrend as the prices have made higher highs and higher lows. The prices are currently facing resistance at the $8.17 level, support is present at the $8.00 level, and a break below this level could see FIL prices falling towards the $7.80 level.

image 599
FIL/USD 4-hour price chart, Source: TradingView

The Stochastic indicator is moving above the 80 levels, indicating that the market is overbought in the near term. The MACD line blue is above the signal line, indicating that the market is in a bullish trend. The Relative Strength Index (RSI) is currently at 59.47 which indicates that the market is in a bullish trend but could be overbought in the near term.

Filecoin price analysis conclusion

It can be concluded that the Filecoin market is presently in a bullish trend as prices have been increasing steadily over the past few days. However, the traders should be cautious as the prices may consolidate before making another move. The next few days will be crucial in determining the direction of the market. Filecoin is among the few cryptocurrencies that have shown some stability in the last few days while most others are still struggling to find their footing.

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.

Related News

Hot Stories

Bitcoin, Ethereum, Litecoin, and Chainlink Daily Price Analyses – 11 August Roundup
FTX CEO unhappy as crypto firms fail to aid each other
How to Stake Zilliqa: Earn 6% APY based on 80% ZIL in Circulation
Cardano price analysis: ADA could rise up to $0.67 after surviving $0.51 support test
How to Stake Spell Token: Earn up to 20% APY

Follow Us

Industry News

FTX CEO unhappy as crypto firms fail to aid each other
BlackRock launches spot BTC private trust
Tornado Cash few accounts unblocked as dYdX affirms it adhered to Treasury’s ban
Renbridge Used by Cybercriminals to Launder $540M by Chain Hopping
Hotbit halts trading activities on its platform