$FIL

Break and closed above $6.77 on November 30, completing a bullish rounding bottom pattern.

The bears will attempt to pull the price back below the breakout level of $6.77 and trap the aggressive bulls. If they succeed in doing so, the FIL/USDT pair could drop to the 20-day EMA ($5.33). The buyers will have to fiercely defend the 20-day EMA if they want to keep the positive sentiment intact.

If the price turns up from the current level and rises above $7.33, it will signal that the bulls have flipped the $6.77 level as support. This will increase the possibility of a rally to $9.34.

The bulls and the bears are witnessing an uphill battle at the breakout level of $6.77. The rising moving averages on the 4-hour chart and the RSI in the overbought territory indicate an advantage for the buyers. If the price rises above $7.33, it will indicate the resumption of the up move.

On the other hand, a break below $6.77 could sink the pair to the 20 EMA and then to the 50 SMA. The sellers will have to sustain the price below the moving averages to get back into the driver’s seat.