- 1 Filecoin open interest is $190.06 Million and the long versus short ratio for 24 hours is 0.9146.
- 2 The Filecoin crypto has illustrated decent performance in the last week, and quarter.
Filecoin’s open interest is $190.06 Million. As per Coinglass, another crypto analysis website, it advanced by 3.73% in the previous session. The long versus short ratio for the last 24 hours is 0.9146. The short liquidation is $131.64K versus $325.87K for the long liquidation.
Source: By Coinglass.com
Can FIL Crypto Price Skyrocket Soon?
Source: FIL/USD: COINBASE.1.D. by TradingView
The Filecoin crypto asset is exhibiting bullish opportunities and shows it can gain more growth in the upcoming daily sessions. It has illustrated decent performance in the last week, and quarter by 9.30%, and 13.84% respectively, highlighting an uptrend.
FIL price advanced from the order block from $3.0 to $8.0 in October last year. However, due to heavy obstacles in the supply region price failed to rise more which caused a major slump in price due to violation of the uptrend and fell to form a support at $4.621.
However, the Filecoin price has exhibited a sign of the seller’s rejection as the price turned around and showed buying strength from a vital level of around $4.621 on the chart showing that the buyers are getting stronger over the seller.
At the time of publishing, the FIL crypto was up 0.20% over the last 24 hours, it was at $5.467.
The Filecoin crypto is geared for a spectacular rise as it exhibits seller’s rejection on the chart and displays momentum that could smash the resistance level and skyrocket to new heights in the upcoming sessions.
FIL is floating above the 20 and 50-Day EMAs which highlights steady buying pressure.
The technical oscillators for Filecoin crypto price show that the asset has positive momentum. The MACD histogram width is increasing with a bullish crossover. Where MACD is at -0.020, the signal line is at -0.089, and the histogram is at 0.069.
The RSI does not imply overbought conditions as it is above the 50 level, having crossed the 14-SMA, indicating that the FIL price has more room to grow in the upcoming sessions.
Therefore, if the demand surges with momentum, the Filecoin asset price could advance further and exhibit a strong rally to retest the supply zone from the current support by breaking the $5.657 hurdle.
Source: FIL/USD: COINBASE.1.D. by TradingView
On the flip side, if the FIL asset price fails to sustain above the $4.621 level, it could reach lower levels and could stretch up to the demand zone as well.
Summary
The Filecoin crypto is geared for a spectacular rally for the upside, as it exhibits seller’s rejection on the chart and displays momentum that could smash the resistance level. Furthermore, the FIL asset price is exhibiting buyers’ potential as it maintains above major 20 and 50-Day EMA bands.
Therefore, if the demand surges with momentum, the Filecoin asset price could keep on advancing and exhibit a strong rally to retest the supply zone from the current support by breaking the in-between hurdle at $5.657.
Technical Levels
Support Levels: $4.621
Resistance Levels: $5.657
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew Smith
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
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