1. BITBILIHome
  2. Article

Filecoin price analysis: FIL declines to $4.41

• 86 views

TL;DR Breakdown

  • Filecoin price analysis is bearish today.
  • The strongest resistance is present at $5.687.
  • FIL trades at $4.41 at the time of writing.

Filecoin price analysis indicates the behavior over the past 48 hours reveals an upward trajectory initially, followed by a notable shift towards a bearish movement, leading to a substantial decline from its position at $4.63. On May 18, 2023, the price experienced a significant crash, resulting in a depreciation of $4.40, followed by a subsequent rebound of $4.41. Furthermore, the price has continued its downward trend throughout the present day. As of now, the prevailing price of FIL stands at $4.41.

As of today, Filecoin is trading at $4.41, accompanied by a 24-hour trading volume of $352.15 million. The cryptocurrency possesses a market capitalization of $1.86 billion and commands a market dominance of 0.17%. Over the past 24 hours, the FIL price has witnessed a decrease of -3.43%. The prevailing sentiment for Filecoin’s price prediction is currently bearish, and the Fear & Greed Index indicates a neutral sentiment with a score of 51.

Filecoin’s circulating supply currently amounts to 422.69 million FIL out of a maximum supply of 321.89 million FIL. The yearly supply inflation rate stands at 105.71%, indicating the creation of 217.21 million FIL within the past year. In terms of market capitalization, Filecoin presently holds the 19th position within the Layer 1 sector.

FIL/USD 1-hour price analysis: Latest developments

The analysis of Filecoin’s price indicates a growing level of market volatility, highlighting the importance of considering market vulnerability as a primary concern. This increased volatility makes the cryptocurrency’s price more susceptible to sudden and unpredictable fluctuations. Notably, the upper limit of Bollinger’s band is currently positioned at $4.653, serving as a significant resistance level for FIL. Similarly, the lower limit of Bollinger’s band is situated at $4.436, further contributing to another resistance observed in FIL’s price movement.

The price of FIL/USD is currently crossing below the Moving Average curve, suggesting a bearish trend in the market. Moreover, the price trajectory exhibits a downward movement, indicating a declining market. This downward trend indicates the presence of potential bearish opportunities, as the market is currently disrupted while the price continues to decline. It is anticipated that the price will retreat even further below the support level.

image 684Filecoin price analysis: FIL declines to .41
FIL/USD 1-hour price chart Source: TradingView

Based on the Filecoin price analysis, the Relative Strength Index (RSI) currently stands at 35, indicating that the cryptocurrency is undervalued. The RSI value resides within the devalued region, suggesting that Filecoin is currently experiencing a period of low valuation. Additionally, the RSI demonstrates a downward trend, indicating a decrease in the cryptocurrency’s value and a dominant presence of selling activity in the market.

Filecoin price analysis for 1-day: Market downward biased

Filecoin price analysis shows market volatility following a decreasing direction. The analysis suggests that the prices of FIL/USD are prone to fluctuations and will move in tandem with the level of volatility in the market. Lower volatility indicates a reduced likelihood of the price shifting toward extreme levels. In the case of FIL, the upper limit of Bollinger’s band is identified at $5.687, which serves as a strong resistance level for the cryptocurrency. Conversely, the lower limit of the Bollinger’s band is observed at $3.988, representing a robust support level for FIL.

The analysis of the FIL/USD price reveals that it is currently crossing below the Moving Average curve, signaling a bearish trend. Additionally, the price trajectory exhibits a downward movement, suggesting the potential for a reversal in the near future. If the market breaks below the support level, it could result in a breakout, leading to an imminent reversal in the price trend.

image 685Filecoin price analysis: FIL declines to .41
FIL/USD 1-day price chart Source: TradingView

According to the Filecoin price analysis, the Relative Strength Index (RSI) is currently at 33, indicating that the cryptocurrency is displaying undervalued characteristics. The RSI value falls within the devalued region, suggesting that Filecoin is currently experiencing a period of low valuation. The RSI also demonstrates a downward movement, reflecting a decreasing market. The selling activity has surpassed the buying activity, leading to a decline in the RSI score.

Filecoin Price Analysis Conclusion

Based on the Filecoin price analysis, the cryptocurrency exhibits a bearish momentum and indicates the presence of potential further bearish opportunities. On May 18, 2023, the price of Filecoin dropped to $4.40, and it is currently unable to surpass the $4.50 level. At present, Filecoin is priced at $4.41. The analysis suggests that the bullish sentiment has weakened, and the market has been dominated by bears.

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 declines to $4.41

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19日 20:42
Next 2023年5月19日 22:25

Related articles

  • Taurus integrates with Polygon to expand tokenization capabilities for financial institutions

    TL;DR Breakdown Taurus integrates with Polygon, enabling European banks to tokenize assets and issue digital securities. The partnership combines Taurus’ tokenization capabilities with Polygon’s efficient and cost-effective blockchain infrastructure. Tokenized securities are gaining traction among financial institutions, offering increased liquidity and programmable behavior for assets. Digital asset infrastructure provider Taurus has announced its integration with Polygon, a scaling network for Ethereum, to enhance its tokenization efforts in Europe. The move follows Taurus’ successful $65 million funding round. It will enable its clients, including major financial institutions such as Arab Bank Switzerland, Credit Suisse, and Deutsche Bank, to issue digital securities seamlessly. Taurus sees debt, funds, and structured products as popular assets for tokenization, with the choice of Polygon as a natural fit due to its association with the Ethereum network. Enabling banks and brands to issue and custody any tokenized asset using @0xpolygon@taurus_hq, the European digital asset infrastructure leader is now fully integrated and automated #onPolygon 😎 More: https://t.co/U2tT0azjkG pic.twitter.com/urFCzXN8eg — Polygon (Labs) (@0xPolygonLabs) June 2, 2023 Tokenization involves converting tangible or intangible assets into digital tokens, allowing for increased…

    Article 2023年6月7日

  • Bank of Japan board member sees inflation goal in sight, policy shifts loom

    TL;DR Breakdown According to board member Naoki Tamura, the BOJ’s inflation goal is “clearly in sight,”  Tamura says that the BOJ must maintain low rates and carefully analyze wage and price data before making policy adjustments. Description Japan’s inflation is “clearly in sight” with the central bank’s target, board member Naoki Tamura has highlighted, which suggests a potential discontinuation of negative interest rates at the beginning of the year. The statement marks the most explicit indication thus far from a Bank of Japan (BOJ) policymaker that increasing inflation and wages might prompt … Read more Japan’s inflation is “clearly in sight” with the central bank’s target, board member Naoki Tamura has highlighted, which suggests a potential discontinuation of negative interest rates at the beginning of the year. The statement marks the most explicit indication thus far from a Bank of Japan (BOJ) policymaker that increasing inflation and wages might prompt the bank to adopt more assertive measures in gradually reducing its unconventional stimulus efforts. Bank of Japan pledges to maintain interest rate low Approximately ten years have passed since the…

    Article 2023年8月30日

  • Justin Sun and his company get approved more time in SEC fight

    TL;DR Breakdown Justin Sun and his company, Rainberry, have been granted an extension by the U.S. Securities and Exchange Commission (SEC) in their ongoing case, moving the deadline to December 8, 2023. The primary allegations from the SEC revolve around Sun and his associated entities offering TRX and BTT as unregistered securities. Sun has also been accused by the SEC of manipulating the market value of TRX. Description When the dust seemed to settle and most thought the dice had been cast, Sun and his company, Rainberry, received a lifeline. A judicial nod from the U.S. Securities and Exchange Commission (SEC) has granted an extended timeline for the defense, setting a new deadline: December 8, 2023. It’s a pivotal moment in a case … Read more When the dust seemed to settle and most thought the dice had been cast, Sun and his company, Rainberry, received a lifeline. A judicial nod from the U.S. Securities and Exchange Commission (SEC) has granted an extended timeline for the defense, setting a new deadline: December 8, 2023. It’s a pivotal moment in a…

    Article 2023年9月25日

  • Circle CEO’s revelation: 70% of USDC adoption surges beyond US borders

    TL;DR Breakdown Jeremy Allaire challenges assumptions by revealing that most USDC usage happens outside the US. Circle partners with reputable banks worldwide to promote local payment methods, facilitating easy minting and burning USDC for a versatile ecosystem. Allaire welcomes competition like PYUSD from PayPal and Paxos, indicating growing recognition of stablecoins by influential players.   Description Jeremy Allaire, the CEO, and co-founder of Circle, has challenged prevailing assumptions about USDC adoption trends, revealing that most usage occurs outside the United States. Contrary to common belief, the fastest-growing economies in Asia, Latin America, and Africa are proving particularly receptive to the stablecoin. This trend highlights a significant market demand for a reliable … Read more Jeremy Allaire, the CEO, and co-founder of Circle, has challenged prevailing assumptions about USDC adoption trends, revealing that most usage occurs outside the United States. Contrary to common belief, the fastest-growing economies in Asia, Latin America, and Africa are proving particularly receptive to the stablecoin. This trend highlights a significant market demand for a reliable digital currency that facilitates seamless online trading. To catalyze the adoption…

    Article 2023年8月8日

  • China’s demand crisis sparks global economic fear

    TL;DR Breakdown China’s weakening demand is a major concern at the G20 summit. President Xi Jinping’s absence from the summit is notable, with Premier Li Qiang representing. China’s economic fragility doesn’t majorly affect other big economies directly due to its self-sufficiency. Description It’s hard to shake the feeling of impending economic doom when China’s chronically flagging demand sits squarely at the forefront of global economic issues. This looming crisis casts a large shadow on the G20 summit in New Delhi. While the world leaders gather, aiming to dissect and manage global financial intricacies, China’s president, Xi Jinping, … Read more It’s hard to shake the feeling of impending economic doom when China’s chronically flagging demand sits squarely at the forefront of global economic issues. This looming crisis casts a large shadow on the G20 summit in New Delhi. While the world leaders gather, aiming to dissect and manage global financial intricacies, China’s president, Xi Jinping, is notably absent. Instead, Premier Li Qiang takes the helm, emphasizing the limited leverage other nations might have if China seeks refuge in global demand….

    Article 2023年9月8日
TOP