Filecoin Price Prediction: FIL Tries to Rebuild Catalyst

Original author: Azeez Mustapha

Filecoin (FIL) Price Prediction – September 3
In the last fewer days of business operations in the FIL/USD market, the crypto moved slowly and steadily downward toward a support line which has made the price tries to rebuild its catalyst afterward. The last fifty-two days have witnessed a low of $4.82 and a high of $119.97. As of the time of writing, the price trades around $6.48 at an average of 11.19% positive.

Filecoin (FIL) Price Statistics:
FIL price now – $6.48
FIL market cap -$1.8 billion
FIL circulating supply – 275 million
FIL total supply – 275 million
Coinmarketcap ranking – #32

FIL/USD Market
Key Levels:
Resistance levels: $9, $12, $15
Support levels: $5, $4, $3
FIL/USD – Daily Chart
The FIL/USD daily chart showcases the crypto market trying to rebuild its catalyst after a chain of smaller candlesticks that featured, representing a correction after pushing backward close to the horizontal line at $5. The support value line has remained the firm critical zone that the market has been unable to decline past. The 14-day SMA indicator is at $6.55, beneath the $8.11 value line of the 50-day SMA indicator. The Stochastic Oscillators have crossed northbound to reach 60.86 and 84.80 range values.

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Is it technically worthy, following an upward trend now in the FIL/USD market?

As of the moment of writing, it appears okay technically to follow an upward motion in the FIL/USD market operation as the crypto tries to rebuild catalyst after averaging its habitual critical support level at $5 recently. Long-position placers need not over-leverage their positions in a quest to maximize a high number of profits at any point in time, even though a bullish candlestick is in the making, backing buying signal.

On the downside of the technical, the current ongoing upward trending motion has not left any tangible sign to suggest the possibility of giving in to depression along the line. As a result of that sentiment, selling activities have to be put on hold for a while. The resistance value point indicated by the reading of the 50-day SMA can act as the retard-trading line in the run. Variant candlesticks will be required to converge around that point to form a pattern, denoting exhaustion to an upward move before reconsidering the launching of shorting positions afterward.

FIL/BTC Price Analysis

Filecoin has seemingly maintained a pattern averagely below the trend lines of the SMAs to rebuild support against Bitcoin, most of the time, a correction tends to play out in the pairing trading instrument. The cryptocurrency pair market tries to rebuild catalyst close underneath the trend line of the smaller SMA. The 50-day SMA indicator is above the 14-day SMA indicator. The Stochastic Oscillators have crossed northbound to 60.79 and 82.78 range values. With the current emergence of a bullish candlestick, the base crypto possesses every chance of surging higher more against its counter-trading crypto.

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