Will FIL crypto reach $10 in 2024?

Filecoin price prediction is mildly bearish for the short term and showcases consolidation. However, till FIL crypto price holds $3.500 support the long term price prediction remains bullish.

Filecoin price struggles to climb above the 50-day EMA showing that the sellers are active on the higher levels. The 200-day EMA placed slightly higher is likely to act as an immediate hurdle for bulls.

FIL crypto price seems to be stuck in the narrow range between $4.00 to $5.00 and showing signs of base formation. The trading volume is quite low shows fresh buyers are reluctant to build fresh long positions.

In the mid of June, Filecoin price took support near $3.00 and formed a long tail bullish hammer candle. Later, slow and steady, prices recovered by forming higher highs and succeeded to break out of the 50-day EMA.

In the beginning of July, FIL price attempted to break the $5.00 hurdle to bring back the confidence of investors. Sadly the attempt failed and prices stuck into consolidation.

Filecoin price is trading at $4.308 with an intraday decline of -0.14%. The 24-hour volume to market cap is 4.74%.

Will Filecoin Price Perform well in the coming months?

Filecoin price prediction showcases consolidation. But it formed a strong base near $4.00 and a sudden rise may be visible anytime.

The pair of FIL/BTC is trading at 0.0001463 with an intraday decline -0.75%. It formed a similar pattern to USDT which also shows sellers are active on higher levels.

Till the Filecoin price sustains above $3.500 the probability of bounce back remains high. However, the price will pick up momentum when buyers will be able to break out of the $5.00 hurdle level.

The technical analysis suggests FIL price is in recovery mode and buyers are trying their best to rebound.

FIL crypto formed Doji candle

FIL crypto price forming Doji candle for past 4 weeks shows indecisiveness and prices lacked direction. If the overall market recovers then Filecoin price might get positively impacted.

The MACD curve slopes down displaying a negative crossover indicating mild bearishness. The RSI at 47 denotes neutral territory and an equal level of tug-of-war between buyers and sellers.

Conclusion

Filecoin Price Prediction is mildly bearish for the short term. However, it will turn bullish when buyers succeed to break out of the $5.00 hurdle level.

The technical analysis suggests, FIL crypto formed a strong base near $4.00 and might break the $5.00 hurdle in the coming months.

Technical levels

Resistance levels: $5.00 and $6.500
Support levels: $3.500 and $3.000

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.