Filecoin price analysis: Bullish swing results in price climbing above $5.19

Filecoin price analysis

TL;DR Breakdown

  • The Filecoin price analysis is bullish today
  • Strong support for FIL is present at $5.00
  • The resistance for FIL/USD is found at $5.27

The latest Filecoin price analysis confirms that a bullish trend has been dominating the charts for the 24-hours. A rise in price has been observed in the last 8 hours as well, which is quite encouraging for the buyers. The price has been uplifted to the $5.19 level, as the bulls have been successfully maintaining the upwards trend line. Although the price has experienced a downfall in the last week as well as a strong correction was also observed yesterday, but today’s trend has been bullish again.

The broader crypto market is indicating Positive sentiment as the king Bitcoin is correcting after hitting an all-time high of $19,149.67. Ethereum has also returned back into the $1,286.11 range. Most of the top coins are also reporting gains over the last 24 hours. However, a handful few are racing, reporting massive losses, with Waves topping the charts with a gain of more than 9.22 percent.

FIL/USD 1-day price chart: Bullish rally takes the price up to $5.19

The 1-day price chart for Filecoin price analysis shows a significant gain in price, as the cryptocurrency is trading hands at $5.19 at the time of writing. Overall, Filecoin has gained a value of more than 3.19 percent over the last 24 hours and reports a marvelous 3.95 percent loss in price value over the course of the last seven days. The trading volume has increased by 41.10 percent in the last 24 hours as it is currently sitting at $150,964,646, indicating the interest level of traders. The market cap also shows an improvement of 3.45 percent, which is currently at $1,547,311,908 at the time of writing.

image 220
FIL/USD 1-day price chart, Source: TradingView

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 at the 40.69 level, which indicates that the market is neither overbought nor oversold. The Bollinger Bands are also expanding, which is indicative of increased market volatility.

Filecoin price analysis 4-hour price chart: FIL /USD trades at $5.19 after a bullish run

The four hours Filecoin price analysis is showings signs of a solid bullish trend, as the price has increased significantly. After the last price correction observed yesterday, the trend reversed in favor of the bullish side, as the bulls were leading the price chart earlier. Nonetheless, an upward trend has been observed in the last four hours, as the price has moved up to the $5.19 level after swinging as high as the $5.27 resistance level. 

image 221
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 on the 4-hour price chart is currently near the 50-level, which indicates that the market is in the overbought region. However, since the RSI is not at extreme levels, there is still some room for prices to move higher. The bulls have been in control of the market as the Bollinger Bands are moving above the candlesticks.

Filecoin price analysis conclusion

Filecoin price analysis shows that the market has followed an upward trend for the day. The price improved considerably and is now touching the $5.19 mark above the upper limit of the volatility indicator, so another correction might loom. However, we expect FIL to continue the upward movement for 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.
Derrick Clinton

Derrick Clinton

Derrick is a freelance writer with an interest in blockchain and cryptocurrency. He works mostly on crypto projects' problems and solutions, offering a market outlook for investments. He applies his analytical talents to theses.

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