Filecoin price analysis: FIL goes up to $4.38 as bulls define price function

Filecoin price analysis

TL;DR Breakdown

  • Filecoin price analysis shows a bullish trend
  • FIL/USD support is present at $4.32
  • Filecoin price is facing resistance at $4.49

The latest Filecoin price analysis is showing signs of an upward trend as the price has undergone a significant improvement in the last 24-hours. The bullish upswing has resulted in a remarkable improvement in the price as its value has upgraded to $4.38. Although the price experienced a downfall at certain points today as well, overall, the market has been ruled by the bulls. The price might surpass even higher levels in the approaching hours as well.

The Altcoin has gained support at the $4.32 level, which is providing a strong foundation for the bulls to build on. However, there are some short-term downside risks as well, and FIL/USD might test this support in the coming days. However, if it manages to hold above this support level, it will be seen pushing higher and climbing past its previous high at $4.49. If that happens, the long-term bullish trend will be firmly established, and cryptocurrency investors can expect further upward momentum in the price of Filecoin in the near future.

FIL/USD 1-day price chart: Price bounces back to $4.38

The 1-day price chart for Filecoin price analysis shows the bulls have been reigning the price chart for most of the time during the past week, and the FIL/USD has been maintained above $4.32. A rise in price has been recorded during the last 24 hours as well, as the price climbed above the $4.38 level. The increasing trend is expected to intensify further in the period of upcoming hours as well. If we mention the moving average indicator in the one-day price chart, then it is at the $4.34 position.

image 509
FIL/USD 1-day price chart, Source: TradingView

The volatility has been mild, with the Bollinger bands maintaining almost the same values. The upper band is at $4.49, representing resistance for FIL and the lower band is at $4.32, representing support for FIL. The Relative Strength Index (RSI) score has reached near the center of the neutral zone at index 40.53 and leaves more room for further bullish practice.

Filecoin price analysis: Recent updates

The four hours Filecoin price analysis is showing signs of an upswing as the price has improved remarkably during the day. The bullish momentum has been intensifying over the past few hours again, and the price has been progressing upwards. Currently, it is present at the $4.38 mark, and it is expected that it will reach a higher point. The moving average is still at a lower level as compared to the price, i.e., at $4.37, but a crossover in SMA20 and SMA50 is taking place, which is a further bullish indication.

image 508
FIL/USD 4-hour price chart, Source: TradingView

The Bollinger bands indicator in the four hours price chart maintains the average value of $4.39. Whereas its upper value has reached the $4.49 limit and its lower value is at the $4.17 position, the indicator shows high volatility for FIL. The RSI score is increasing again as the price is going up again due to the recent buying activity in the market. The RSI indicator shows a reading of 50.80 on the 4-hour chart.

Filecoin price analysis conclusion

Filecoin price analysis shows bulls are maintaining their lead since yesterday and have rallied high today towards $4.38 later in the night, and are leading the charts again after a correction in between. We expect FIL/USD to continue upside towards $4.49 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.

Joel Oluwatobi

Joel Oluwatobi

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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