Bulls dominates Filecoin market
FILUSD Price Analysis – September 11
Filecoin is targeting the resistance level of $7.20 and may break it up provided the Bulls increase their pressure. In case the Bears were able to push down the price and break down the $6.15 level, then, $4.94 price level may be the target
Resistance levels: $7.20, $7.98, $9.49
Support levels: $6.15, $4.94, $4.0
FIL/USD Medium-term Trend: Bullish
FIL/USD is bullish in the long-term outlook. The cryptocurrency was under the bearish pressure started from August 01. The coin reached the support level of $4.9. There was a price retracement to retest the broken level of $9.49. Further increase in price was not possible as the price was confronted with the confluence at the mentioned level. The Bears resumed their movement and the price descends to the previous low at $4.9 on August 26. It consolidates at just mentioned level. The buyers are trying to dominate the market.
Filecoin is trading above 21-period EMA and 9-periods EMA at close distance which indicates that the bullish momentum is increasing. The relative strength index period 14 is at 50 levels pointing to the north which indicates buy signal. Filecoin is targeting the resistance level of $7.20 and may break it up provided the Bulls increase their pressure. In case the Bears were able to push down the price and break down the $6.15 level, then, $4.94 price level may be the target.
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FIL/USD Short-term Trend: Bullish, TAMA Heads to the North
Filecoin is bullish in the short-term outlook. Filecoin price consolidates around the support level of $6.15 when it reached the level. At the moment the sellers’ momentum is decreasing. The price hit the resistance level of $6.1 and break it up. Price is gradually increasing towards $7.20 level.
The price is heading towards the resistance level of $7.20. It is trading above the 21-period EMA and 9-periods EMA which connotes that the Bulls’ pressure is increasing. The relative strength index period 14 is at 58 levels pointing to the south indicates sell signal.
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