Filecoin (FILUSD) Approaches a Potential Reversal Zone – Cryptovibes.com – Daily Cryptocurrency and FX News
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FILUSD Price Analysis – February 23
Further increase in the bears’ momentum will make the price to break down the support level of $18 and this will expose the price to $17 and $15 support level. Should the $18 support level holds, the price may reverse and face the resistance level at $19, further increase in the bulls’ pressure may push up the price to $21, and $23.
FIL/USD Market
Key levels:
Resistance levels: $19, $21, $23
Support levels: $18, $17, $15
FILUSD Long-term Trend: Bearish
FILUSD is bearish in the Long-term outlook. The coin found support at $18 on January 22. It bounced up to retest the resistance level of $25 on February 08. A strong daily doji candle formed to indicate the opposition of the bears against the bullish movement. The price declines to retest the previous low at $18 support level. It seems the price action want to form a double bottom chart pattern.
The fast Moving Average (9 periods) has crossed down the slow Moving Average (21 periods EMA) and the price is trading below the two EMAs as a sign of bearish movement. Further increase in the bears’ momentum will make the price to break down the support level of $18 and this will expose the price to $17 and $15 support level. Should the $18 support level holds, the price may reverse and face the resistance level at $19, further increase in the bulls’ pressure may push up the price to $21, and $23. The relative strength index period 14 is pointing up at 38 levels to indicate a buy signal.
FILUSD medium-term Trend: Bearish
FILUSD is bearish in the 4-hour chart. The bulls could not withstand resistance level of $25. The price pulled back towards the support level of $19. At the moment, the bears have pushed the price to test the support level of $18. There is possibility for the bulls to take over the market.
The coin is trying to break up the 9 periods EMA and 21 periods EMA upside which may establish buyers’ momentum. The relative strength index period 14 is at 43 levels and the signal lines pointing up to indicate buy signal.
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