Today’s Filecoin Price Forecast: FIL Technical Analysis for September 13

Today's Filecoin Price Forecast: FIL Technical Analysis for September 13

Filecoin Price Prediction: Can FIL Break Over Moving Averages?

The present Filecoin (FIL) price is $3.11 with a market cap of $1.4 billion. The circulating supply is 446.7 Million FIL out of a total supply of 1.9 billion. FIL is ranked #31 on Coinmarketcap.

FIL/USD Market Analysis

The resistance levels for FIL/USD are $3.80, $4.00, and $4.20, while the support levels are $2.40, $2.20, and $2.00. As of now, FIL/USD is trading near the resistance level at $3.11 after reaching a daily high of $3.19 earlier.

If FIL/USD breaks over the 9-day and 21-day moving averages, it might continue to rise towards the resistance level of $3.50. A crossing of the Relative Strength Index (14) over the 40-level would indicate a strengthening positive trend grip in the market.

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Filecoin Price Prediction: Where Could FIL Go Next?

The Filecoin price has recently recovered from its opening price of $3.02 and is now holding within a channel. This implies that buyers have an advantage and could potentially push the price towards the resistance levels of $3.80, $4.00, and $4.20.

If buyers fail to break over the moving averages, FIL/USD may consolidate instead. Nonetheless, it’s still possible to reach the resistance level of $3.50 if buyer confidence increases. On the other hand, if bears bring the price below the lower boundary of the channel, support levels at $2.40, $2.20, and $2.00 could be tested.

FIL/ Bitcoin Analysis

Against Bitcoin, FIL is trading below the 9-day and 21-day moving averages, indicating a bearish trend. Buyers need to push FIL/ Bitcoin over these moving averages for a probable positive trend reversal. If the price falls below the lower boundary of the channel, it might continue to decline towards support levels at 1100 SAT, 1000 SAT, and below.

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To reverse the bearish trend, buyers should intend to push the market towards the upper boundary of the channel, reaching the  capacity resistance level at 1400 SAT and over. The Relative Strength Index (14) implies that bears are likely to dominate as the signal line moves into oversold territory.

Alternatives to Filecoin

If buyers increase their pressure, FIL could start another positive trend run over $3.20. A positive break towards the upper boundary of the channel would be a signal for buyers to push higher. Nonetheless, before reaching the $3.50 resistance level, FIL needs to break to the upside.

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Investors should keep an eye on WSM token, which has gained $25 Million in presale funding and is set for launch on top-tier exchanges. It has resurfaced as a successful project with a growing community.

Hot Take: Filecoin Price Holds Ground Within Channel

The Filecoin price is as of now trading near resistance at $3.11, and breaking over moving averages could lead to further gains. Buyers have an advantage and might propel FIL towards resistance levels of $3.80, $4.00, and $4.20. On the other hand, failure to break over moving averages may result in consolidation.

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FIL/ Bitcoin is facing a bearish trend below moving averages, but buyers can reverse this by pushing the price over the moving averages. Support levels at 1100 SAT and 1000 SAT could be tested if the price falls below the lower boundary of the channel.

Investors should likewise consider alternative projects like WSM, which has seen whole lot of funding and is set for launch on top exchanges.

Author – Contributor at | Website

Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.

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