TA- Filecoin (FIL) Price Bounces Back On Track As Price Eyes $10

The price is poised to rise above the $8 mark as Filecoin has been showing significant strength in comparison with tether USDT. The price of Bitcoin is volatile, even though it shows some strength from time to time. This has had an impact on FIL. Although Filecoin (FIL), has been struggling to crack the $5 barrier so far, it could now be in a position to do so. (Data from Binance).

Weekly Chart Price Analysis for Filecoin, FIL 

The FIL price has dropped to around $4 from $240. It is struggling to keep afloat in bear seasons. FIL prices have shown some hope recently, with a rise of $4-6 as more people invest in this currency.

FIL prices fell to $5 per week before rising to $6.5 and then overcoming resistance. FIL is still priced above $6, as it continues to attract buyers.

FIL’s price has increased to $6.5 from the region. This price looks promising with high volume coming in before the weekly close. FIL’s price could hit $8 if it maintains its current volume at the end of the week.

Weekly resistance for the price of FIL – $8.

Weekly support for the price of FIL – $5.

Prices Analysis of AXS on the Daily (1D), Chart

Source: Forexview.com| Source: FILUSDT On Tradingview.com

Following a drop to $5 daily, FIL’s price on the daily charts bounced back and formed strong support. It rallied to $6.5, with good volumes of buyers, ahead of the weekly and daily closes.

FIL’s price must break through the resistance at $6.5 in order to maintain its bullish structure. This will require more buy orders.

FIL traded $6.49 less than its 50- and 200-exponential moving averages (EMA). FIL’s current price at $6.8 versus $14 will prevent it from increasing further. These prices correspond to the 50 EMA and the 200 EMA.

Daily (1D) resistance for the FIL price – $6.5, $8.

Daily (1D) support for the FIL price – $5.

Comparison of the Price Of FIL On Four Hourly Chart

Source: Forexview.com| Source: FILUSDT On Tradingview.com

FIL’s price in the fourth quarter has been bullish, despite having bounced off $6.4 support and rallied to $6.49. FIL needs to maintain bullish momentum, as it nears its main resistance at $6.5–$7. This corresponds with the 23.6% Fibonacci mark and acts as resistance for FIL’s price.

FIL’s price could climb to $8-$10 if it breaks through the $6.5-$7 resistance level with enough volume.

Relative Strength Index, (RSI), for FIL, is shown on the 4H Chart. It indicates that buy volume was for FIL.

Four-Hourly (1H) resistance for the FIL price – $8-10.

Four-Hourly (1H) support for the FIL price – $6.4.

Cryptowisser, Charts from 

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