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Filecoin price analysis: FIL uptrend faces stiff resistance at $2.99

Filecoin Price analysis

TL;DR Breakdown

  • Filecoin price analysis is bullish today as the year ends
  • FIL/USD shows an uptrend at $2.98
  • Support for FIL is present at $2.94

Filecoin price analysis shows FIL prices have been rising lately, which is a good sign for traders who believe in the potential of this digital asset. FIL is trading at $2.97, after a bullish run that saw it appreciate by 0.86 percent in the last 24 hours.

The bulls are presently attempting to claim lost ground, according to the most recent FIL price analysis. They will need to push and close the cryptocurrency above $3.00 to continue the upwards move. On the other hand, a drop below $2.94 could see FIL’s price fall to $2.90. The trading volume is at $74,303,259 while the market cap is at $1,069,990,563.

FIL/USD 1-day price chart: Price levels up to $2.97, and bulls manage to penetrate

Filecoin price analysis one-day price chart, bulls are trying to overcome the bearish pressure and have succeeded so far in their struggle as the prices increased today. The past few days have been mostly bearish for FIL as it corrected lower from highs around the $2.90 level.

image 617
FIL/USD 1-day price chart, Source: TradingView

According to the 1-day price analysis, the moving average(MA)value is presently placed well below the current market price, which indicates that the bulls are in control. The 50 MA is placed at $2.80 while the 200 MA is situated at $2.51, which means that bulls are making progress and might be able to push FIL above the $ 3.00 level shortly. The Relative Strength Index (RSI) is currently at 28.58, which means that FIL has moderate upside potential. In addition, the MACD is in the positive zone, but it isn’t too far away from the zero line.

FIL/USD 4-hour price chart: Price stabilizes above $2.94 as the uptrend remains consistent

The 4-hour Filecoin price analysis shows bulls are trying to push prices higher, but they face some resistance near $2.99.This encourages buyers to remain cautious until there is a breakout and close (UTC time frame) above the $2.99 resistance. The moving average is currently bullish and is expected to remain so for the near term.

image 616
FIL/USD 4-hour price chart, Source: TradingView

On the 4-hour chart, The RSI and MACD on the 4-hour chart suggest that FIL’s price may continue to move higher in the near term. The RSI line is placed well above the 50 levels, with a positive angle. This suggests that FIL is in an uptrend and may start an afresh increase if there is a clear break and close above the $2.99 resistance level.

Filecoin price analysis conclusion

To conclude, in the Filecoin price analysis, there has been a rise in today’s price as the bulls are trying to situate themselves on the price chart. FIL/USD price is now at the $2.97 level, encouraging the buyers. The bears have been pushing back, however, the bulls have managed to maintain their ground as the year ends.

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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