FIL rallies to $7.35, gaining 23% overnight

– Filecoin price analysis shows a      strong bullish momentum. – Resistance is present at $8.09. – Support for FIL is present at $6.

The price of Filecoin (FIL) increased tremendously during the last 24 hours, reaching the $7.35 mark. Overall the cryptocurrency was consolidating in the last few weeks as the price was range bound in a specific price channel.

FIL seems to be breaking out of the consolidation after continuing the bullish trend since 26 July 2022, as the price has spiked high today after a long period. The coin has broken above the crucial resistance of $7.2, which is a huge achievement.

FIL/USD 1-day price chart

The one-day Filecoin price is showing encouraging signs for the buyers as the coin is racing and the price function is following the bullish movement.  The price received sufficient momentum during the day, making it possible to reach the $7.35 level, gaining 23 percent value during the past 24 hours.

The moving average (MA) value is also present at $5.79 above the SMA 50 curve, which is a great achievement for the bulls. In contrast, the Bollinger band's average is holding up at $5.62.

Filecoin price analysis

The 4-hour Filecoin price analysis is also going in the bullish direction as the price has been flashing up consistently. This happened after the bulls got a jumpstart at the start of the day, and since then, their momentum has shown its strength.

The Bollinger bands hint at a sharp increase in volatility and show their average at the $5.92 mark, while their upper value stands at $6.98 and the lower one at $4.87.


The FIL/USD value is $7.35 at the time of writing and is expected to increase in value furthermore in the upcoming hours as well. However, the coin may correct in the next trading session as bulls might feel the exhaustion from the current rally.

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