FIL/USD Faces the North as Price Nears $6.0 Level

The Filecoin price prediction shows that FIL could be ready for the uptrend as it may fundamentally break above the channel.

Filecoin Prediction Statistics Data:

Filecoin price now – $5.82
Filecoin market cap – $2.2 billion
Filecoin circulating supply – 389.5 million
Filecoin total supply – 389.5 million
Filecoin Coinmarketcap ranking – #32

FIL/USD Market

Key Levels:

Resistance levels: $7.5, $8.0, $8.5

Support levels: $4.0, $3.5, $3.0

FIL/USD is likely to cross above the upper boundary of the channel to increase the bullish movement within the channel. Meanwhile, the Filecoin price might kick-start another bullish run above $6.0 if the market price heads to the upside. However, any positive break above the channel could be the first signal needed for the buyers to press higher. Nevertheless, the Filecoin price has to break to the upside before hitting the $6.0 resistance level.

Filecoin Price Prediction: Filecoin (FIL) Trades Positively

The Filecoin price is currently hovering above the 9-day and 21-day moving averages. If the buyers grind higher, the first resistance level may come at $6.5 as this could also be followed by the $7.0 level. Therefore, additional resistance levels can then be found at $7.5, $8.0, and $8.5 respectively. Nonetheless, if the Filecoin price slides and heads towards the lower boundary of the channel, it could hit the first support level at $5.0.

Furthermore, crossing below the lower boundary of the channel may lead to the critical support levels at $4.0, $3.5, and $3.0 respectively. Looking at the daily chart, the technical indicator Relative Strength Index (14) is crossing above the 60-level, which indicates that buyers may begin to gain control of the market, and this, could also mean that another signal of FIL could be pushing toward the resistance level of $7.0 soon.

Against Bitcoin, the daily chart shows that the Filecoin price is attempting to stay above the 9-day and 21-day moving averages. As soon as the price stables above this barrier, there is a possibility that additional gains could be obtained. Therefore, the next resistance level is close to the 2500 SAT level. If the price keeps rising, it could even break the 3000 SAT and above.

However, if the bears regroup and slide below the 9-day and 21-day moving averages, 2000 SAT support may play out before rolling to the critical support at 1800 SAT and below. Meanwhile, the Relative Strength Index (14) is moving above the 50-level, suggesting bullish movement.

Filecoin Alternatives

For Filecoin (FIL) to trade close to $6.0 is hinting at the formation of a bearish fractal as the bearish divergence forming on the coin could lead to the price revisiting the $5.0 level before rallying toward the $7.0 resistance level. Nevertheless, the Meta Masters Guild token is reaching a final presale stage after over $4.1 million has been raised so far. This offers an exciting opportunity for prospective investors to get in on the action in the rapidly-growing play-to-earn gaming sector.

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