FIL/USD Shows Positive Signs Above $3.0

The Filecoin price prediction shows that FIL is likely to cross above the 9-day and 21-day moving averages.

Filecoin Prediction Statistics Data:

• Filecoin price now – $2.99
• Filecoin market cap – $1 billion
• Filecoin circulating supply – 344.4 million
• Filecoin total supply – 344.4 million
• Filecoin Coinmarketcap ranking – #36

FIL/USD Market

Key Levels:

Resistance levels: $4.5, $5.0, $5.5

Support levels: $2.0, $1.5, $1.0

FIL/USD peaks at $3.11 today, after which the coin begins to consolidate within the channel. Meanwhile, the price not staying above $3.0 may ruin the long-term technical picture of the coin. However, Filecoin will have to cross above the 9-day moving average in other to guide against the downward pressure while the closest support expects the coin at $2.5, which could be a daily low.

Filecoin Price Prediction: FIL/USD Likely to Hit $3.5 High

At the time of writing, the Filecoin price is likely to trend to the upside and the movement above the upper boundary of the channel could push the coin to the resistance levels of $4.5, $5.0, and $5.5. On the downside, a bearish cross below the lower boundary of the channel could stop the initial upward movement and create bearish momentum with a focus to bring the market to the next support levels of $2.0, $1.5, and $1.0 respectively.

At the moment, the technical indicator Relative Strength Index (14) is likely to recover out of the oversold region as the signal line moves to cross above the 30-level. Looking at the daily chart, the 9-day moving average remains below the 21-day moving average, and this could allow the sellers to step back into the market.

Against Bitcoin, the Filecoin price is hovering below the 9-day and 21-day moving averages. Meanwhile, following the recent positive sign, FIL/BTC may go down if the sellers step back and increase the pressure further.

However, if the bears succeeded in breaking below the lower boundary of the channel, the market price could reach the support level at 1300 SAT and below. Meanwhile, a positive move could allow the coin to go above the moving averages and push the price to the resistance level of 2400 SAT and above but, the technical indicator Relative Strength Index (14) remains within the oversold region, which could boost the bearish movement.

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