Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Cryptoknowmics 2022-08-06 11:20:22

FIL Technical Analysis: Reversal From 100 SMA Teases 20% Jump

Post-correction rally encourages FIL buyers to overcome the $11 barriers. Should you consider being bullish in this recovering market? Key Technical Points: The FIL price currently trades at $9.31 with an intraday gain of 8.27% 20% discount on FIL price poured more buyers into the market. With a market cap of 2.32 billion, the intraday trading volume of Filecoin has increased by 70% to reach $754 million. Past Performance of FIL Amid the past month’s uncertainty in the crypto market for a potential bottom, the FIL/USDT pair is under the influence of a descending trendline. However, on July 28th, the altcoin gave a decisive breakout from the trendline resistance, which released the trapped bullish momentum. The post-retest rally marked a record high of $11.24, registering a 117.8% growth. Source – Tradingview FIL Technical Analysis Earlier this week, the FIL price witnessed a minor correction in response to the profit booking from short-term traders. This pullback tumbled the altcoin by 20.8% and tested the $8 psychological level. However, the bullish reversal has surged the price by 13.3% in two days. Furthermore, the rising 50-day SMA indicates the buyers govern the short-term. Moreover, the breached 100-day gets flipped to offer bullish support. The RSI slope is nearing the overbought boundary indicating strong buying from traders. Moreover, the rising fast and slow lines in the MACD indicator indicate sustained bullish mome...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.