The Filecoin price prediction reveals that FIL touches the daily high at $3.19, but a break above the 9-day and 21-day moving averages is expected.
Filecoin Prediction Statistics Data:
- Filecoin price now – $3.11
- Filecoin market cap – $1.4 billion
- Filecoin circulating supply – 446.7 million
- Filecoin total supply – 1.9 billion
- Filecoin Coinmarketcap ranking – #31
Resistance levels: $3.80, $4.00, $4.20
Support levels: $2.40, $2.20, $2.00
FIL/USD is trading around the resistance level of $3.11 after touching the daily high of $3.19 a few hours ago. However, this is a move that could easily pave the way for gains above the 9-day and 21-day moving averages to touch the resistance level of $3.50. Meanwhile, if the technical indicator Relative Strength Index (14) crosses above the 40-level, the market could show that the bullish grip is getting stronger.
Filecoin Price Prediction: Where Would FIL Price Go Next?
The Filecoin price is currently holding ground within the channel after a recent recovery from the opening price of $3.02. This shows that buyers could have the upper hand in the price movement, and they could easily push the coin toward the potential resistance of $3.80, $4.00, and $4.20 respectively. On the contrary, if the buying action fails to break above the moving averages, FIL/USD could instead settle for consolidation.
Nonetheless, it is about time that buyers increase their confidence in the recovery because $3.50 is still achievable. Meanwhile, if the bears bring the coin below the lower boundary of the channel, the support levels of $2.40, $2.20, and $2.00 could be reached.
FIL/BTC Could Face the South
Against Bitcoin, the Filecoin price is hovering below the 9-day and 21-day moving averages which may cause the coin to trade bearishly. However, the buyers may need to come in and push FIL/BTC to the upside. Unless the coin breaks above the moving averages and eventually closes above it, there might not be any reason to expect a long-term bullish reversal.
Meanwhile, sliding below the lower boundary of the channel could recall the lows, and a possible bearish continuation could meet the nearest support at 1100 SAT before falling to 1000 SAT and below. However, the buyers may need to push the market near the upper boundary of the channel which could hit the potential resistance level at 1400 SAT and above. The technical indicator Relative Strength Index (14) shows that bears are likely to dominate as the signal line moves to cross into the oversold region.
Alternatives to Filecoin
The Filecoin price could kick-start another bullish run above $3.20 if the buyers increase the pressure. However, any positive break toward the upper boundary of the channel could be the first signal needed for buyers to press higher. Nevertheless, the Filecoin price may need to break to the upside before touching the $3.50 resistance level.
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