1. BITBILIHome
  2. Article

Filecoin price analysis: FIL consolidates with clear bearish pressure at $4.42

• 32 views

TL;DR Breakdown

  • Filecoin price analysis is bearish today.
  • The resistance is found at $4.58.
  • The support for FIL is found at $3.99.

The latest assessment of the Filecoin price analysis indicates a bearish trend as the cryptocurrency faces yet another decline. Following a downward trajectory for two days, the price has now dropped to $4.42. While bears currently hold sway in the market, the situation remains relatively stable as the coin enters a consolidation phase. This is supported by the coin’s adherence to a specific price range during the previous bearish period, and today’s loss appears to be under control.

FIL/USD 1-day price chart: Bearish sentiment results in the price going below $4.5

The Filecoin price analysis chart depicts a bearish movement as the price steadily declines, resulting in significant losses throughout the current month. Despite trading within a narrow range over the past few days, today’s FIL/USD price witnessed a slight drop to $4.42. Although the coin has registered a 0.59 percent increase in value over the past 24 hours, it has experienced a 1.91 percent loss over the last week due to the prevailing bearish market trend. Moreover, today’s trading volume has decreased by more than nine percent.

filk1dFilecoin price analysis: FIL consolidates with clear bearish pressure at .42
FIL/USD 1-day price chart. Source: Tradingview

The upper Bollinger band at $5.78 acts as a significant resistance level for FIL, while the lower Bollinger band value of $3.99 provides support in a highly volatile market. With the decrease in price, the Relative Strength Index (RSI) has fallen to 30, indicating near oversold conditions. The RSI’s position in the lower range signifies the prevailing bearish pressure on the coin.

Filecoin price analysis: Recent developments and further technical indications

At the start of the trading session, the 4-hour Filecoin price analysis signaled a bullish trend as the price increased to $4.49 with an upward breakout. There is decreasing pattern again as the price is covering range downwards at the moment. The current price is slightly lower than the moving average value of $4.43. 

filk4hgFilecoin price analysis: FIL consolidates with clear bearish pressure at .42
FIL/USD 4-hour price chart. Source: Tradingview

Over the past four hours, the price has exhibited gradual fluctuations, indicating a lack of volatility. Presently, the upper Bollinger band sits at $4.51, while the lower Bollinger band is at $4.37. The RSI score has also declined and is currently hovering at 46 within the lower half of the neutral zone.

Filecoin price analysis: Conclusion

The 4-hour and 1-day Filecoin price analysis indicate that the FIL is facing resistance below the $4.5 threshold, but there is potential for finding support in the coming hours. A continuous downtrend has been observed over the previous four hours. Furthermore, the narrowing Bollinger bands on the 24-hour chart suggest decreasing volatility, supporting the notion of an ongoing consolidation phase.

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.

文章来源于互联网:Filecoin price analysis: FIL consolidates with clear bearish pressure at $4.42

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年5月18日 01:32
Next 2023年5月18日 04:07

Related articles

  • Oman advances toward virtual asset regulation, launches public consultation

    TL;DR Breakdown Oman’s financial regulator seeks public feedback on a new regulatory framework for virtual assets. The proposed framework covers all virtual asset sectors, with a focus on risk mitigation. This aligns Oman with global trends to regulate crypto assets while encouraging sector growth. Description The Capital Market Authority (CMA) of the Sultanate of Oman has initiated a public consultation in a bid to gather industry perspectives on its proposal to establish a new regulatory framework that governs transactions involving Virtual Assets (VA) and operations of Virtual Asset Service Providers (VASP). This significant step represents Oman’s efforts to regulate activities … Read more The Capital Market Authority (CMA) of the Sultanate of Oman has initiated a public consultation in a bid to gather industry perspectives on its proposal to establish a new regulatory framework that governs transactions involving Virtual Assets (VA) and operations of Virtual Asset Service Providers (VASP). This significant step represents Oman’s efforts to regulate activities and transactions involving crypto assets, tokens, crypto exchanges, and initial coin offerings. According to the CMA, the regulatory framework aims to establish…

    Article 2023年8月5日

  • Coinbase (COIN) continues strong performance amid regulatory pressure

    TL;DR Breakdown Coinbase’s stock price rises by nearly 6% despite SEC lawsuit concerns, reflecting investor confidence. The company repurchases $64.5 million worth of Convertible Senior Notes at a discount, showcasing its commitment to shareholder value. Coinbase reports a smaller net loss and a surge in subscription revenue, indicating a rebound after a challenging year. Description Coinbase, the largest cryptocurrency exchange in the United States, saw its stock price climb nearly 6% over the past week, defying the overhang of the ongoing lawsuit by the U.S. Securities and Exchange Commission (SEC). Despite regulatory uncertainties, Coinbase’s stock closed the week’s session at $55.59, marking a 5.93% increase. Since the SEC’s announcement of … Read more Coinbase, the largest cryptocurrency exchange in the United States, saw its stock price climb nearly 6% over the past week, defying the overhang of the ongoing lawsuit by the U.S. Securities and Exchange Commission (SEC). Despite regulatory uncertainties, Coinbase’s stock closed the week’s session at $55.59, marking a 5.93% increase. Since the SEC’s announcement of the lawsuit on June 6, the stock has risen more than 7%,…

    Article 2023年6月21日

  • London digital fashion week: A technological renaissance in the fashion industry

    TL;DR Breakdown This year’s London Fashion Week transcended traditional norms, highlighting the blend of digital innovations like MetaHumans and the classical runway. The intersection of fashion and gaming emerges as a notable trend, with platforms like Roblox leading the way for new experiences and revenue streams. Description In a stunning meld of tradition and technology, London’s Digital Fashion Week, a landmark event in the global fashion calendar, has heralded a new era for the industry. With a digital revolution that has intertwined the rich tapestry of fashion with the dynamic world of technology, the event has painted a bold vision of the … Read more In a stunning meld of tradition and technology, London’s Digital Fashion Week, a landmark event in the global fashion calendar, has heralded a new era for the industry. With a digital revolution that has intertwined the rich tapestry of fashion with the dynamic world of technology, the event has painted a bold vision of the future. This year’s spectacle went beyond fabric and thread, venturing into the realms of digital avatars, gaming platforms, and cutting-edge…

    Article 2023年9月25日

  • Shiba Inu’s Layer-2 Shibarium Testnet Puppynet Nears 30 Million Transactions

    TL;DR Breakdown Shiba Inu’s layer-2 Shibarium testnet, Puppynet, is nearing a significant milestone of 30 million transactions Shibarium beta Puppynet has completed 30 million transactions, processed over 1,700,764 blocks, and the number of wallet addresses has increased to 17,061,835. Lead developer Shytoshi Kusama is expected to reveal the Shiba Inu ecosystem’s Worldpaper, all Shibarium partners, and the TREAT token at the Blockchain Futurist Conference in August. Description The Shiba Inu ecosystem is making waves in the blockchain world as its layer-2 Shibarium testnet, known as Puppynet, approaches a significant milestone of 30 million transactions. This surge in network activity is a testament to the growing demand for the Shibarium chain, and it could potentially boost the prices of SHIB and Shibarium’s gas … Read more The Shiba Inu ecosystem is making waves in the blockchain world as its layer-2 Shibarium testnet, known as Puppynet, approaches a significant milestone of 30 million transactions. This surge in network activity is a testament to the growing demand for the Shibarium chain, and it could potentially boost the prices of SHIB and Shibarium’s gas…

    Article 2023年7月16日

  • How the US curbs on Chinese investment affects EU

    TL;DR Breakdown US restricts investments in China’s high-tech sectors, citing security risks. EU takes a more cautious approach, emphasizing its deeper economic ties with China. EU aims to draft its own guidelines by year’s end. Concerns rise over China’s dominance in essential tech and supply chains. Description The recent US-driven restrictions on investments in China’s high-tech sector have sent shockwaves through the global financial community. But while the US decisively takes action, the European Union navigates a more complex and intertwined relationship with Beijing, revealing a more hesitant approach and a reluctance to march lockstep with Washington. Balancing Economic Ties and Security … Read more The recent US-driven restrictions on investments in China’s high-tech sector have sent shockwaves through the global financial community. But while the US decisively takes action, the European Union navigates a more complex and intertwined relationship with Beijing, revealing a more hesitant approach and a reluctance to march lockstep with Washington. Balancing Economic Ties and Security Concerns President Joe Biden’s executive order to curb American investment into China’s forefront technological arenas—quantum computing, advanced chips, and artificial…

    Article 2023年8月11日
TOP