Filecoin is Predicted to Drop to $4.17 By May 23, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Filecoin is up 3.09% today against the US Dollar
• FIL/ETH increased by 2.86% today
• Filecoin is currently trading 10.26% above our prediction on May 23, 2023
• Filecoin dropped -25.05% in the last month and is down -45.13% since 1 year ago

FIL price is expected to drop by -9.33% in the next 5 days according to our Filecoin price prediction

is trading at $ 4.60 after gaining 3.09% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 2.91% in the same time period. FIL performed well against BTC today and recorded a 1.98% gain against the world’s largest cryptocurrency.

According to our Filecoin price prediction, FIL is expected to reach a price of $ 4.17 by May 23, 2023. This would represent a -9.33% price decrease for FIL in the next 5 days.

FIL Price Prediction Chart

Buy/Sell Filecoin

What has been going on with Filecoin in the last 30 days

Filecoin has been displaying a negative trend recently, as the coin lost -25.05% in the last 30-days. The medium-term trend for Filecoin has been bearish, with FIL dropping by -26.14% in the last 3 months. The long-term picture for Filecoin has been negative, as FIL is currently displaying a -45.13% 1-year price change. On this day last year, FIL was trading at $ 8.39.

Filecoin reached its all-time high price on Apr 01, 2021, when the price of FIL peaked at $ 236.16. The current FIL cycle high is $ 9.39, while the cycle low is at $ 2.54. FIL has been displaying low volatility recently – the 1-month volatility of the coin is at 9.55. Filecoin recorded 13 green days in the last 30 days.

Filecoin technical analysis for today – May 18, 2023

The sentiment in the Filecoin markets is currently Bearish, and the Fear & Greed index is reading Neutral. The most important support levels to watch are $ 4.43, $ 4.32 and $ 4.23, while $ 4.64, $ 4.72 and $ 4.84 are the key resistance levels.

Bearish sentiment for Filecoin

15 indicators are currently signaling a bullish prediction for Filecoin, while 16 indicators are showing a bearish forecast. With 52% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Filecoin.

Crypto market is currently experiencing Neutral

Currently, the Fear & Greed index is at 51 (Neutral), which signals that investors have a neutral outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Filecoin moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Filecoin is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Filecoin is at 36.30, suggesting that FIL is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Filecoin over the last 50 days. Currently, Filecoin is trading above the SMA 50 trendline, which is a bullish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the FIL closing price for the last 200 days. FIL is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Filecoin prediction

After considering the above factors, we can conclude that the current forecast for Filecoin price prediction is Bearish. FIL would have to decrease by -9.33% to hit our $ 4.17 target within the next five days. Moving forward, it will be important to monitor the FIL market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Filecoin price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.