FIL Technical Analysis
Key Insights
- Filecoin crypto experienced a significant surge from a local low to a 2023 high, followed by a prolonged pullback lasting over 240 days.
- The 2023 peak established an inclined resistance level, while rising minimums formed a support level, with Filecoin currently consolidating near resistance.
- If Filecoin breaks the resistance, the next targets could be reaching the 2023 high at $9.479 and potentially aiming for $11.403, contingent on sustained bullish momentum.
As of this writing, Filecoin crypto ranks 31st in the CoinMarketCap rating with a market cap of $2.51 billion.
FIL Technical Analysis
After reaching a local minimum at $2.398, there was a confident recovery in the Filecoin price, leading to reaching the 2023 local maximum at $9.479. This upward trend was accompanied by significant growth, exceeding 300%. Subsequently, a prolonged price pullback began, lasting for more than 240 days.
The 2023 local maximum formed an inclined resistance level for Filecoin, while rising minimums created an inclined support level.
FIL Price Prediction
Currently, Filecoin crypto is in a consolidation phase near the inclined resistance level, with high trading volumes. Filecoin is trading at a price of $5.190. Such conditions may indicate that the market is awaiting further upward movement by overcoming the resistance level.
In case of surpassing the inclined resistance level, the next price target for Filecoin could be to reach the 2023 local maximum at $9.479. With sustained bullish pressure, a continuation of the upward trend is possible. We may expect the next target to be at $11.403.
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