Technical Analysis for FIL/USDT
Current Price: $7.326 (+8.08%)
The price action of Filecoin (FIL) suggests a recovery phase, with bullish momentum reclaiming key levels. Below is a detailed technical breakdown:
Key Observations
Support Levels
Primary Support: $6.90 (recent bounce level)
Secondary Support: $6.62 (24-hour low)
Resistance Levels
Immediate Resistance: $7.50 (near 24-hour high)
Major Resistance: $8.00 (psychological barrier)
Indicators
RSI: Trending upwards, currently at 58, indicating moderate bullish momentum.
MACD: Bullish crossover with an expanding histogram, signaling buying strength.
Moving Averages:
50 EMA: Price trading above it, confirming short-term bullish sentiment.
200 EMA: Price nearing this level, which could act as major resistance around $8.
Momentum Analysis
Short-Term Outlook: Favorable for a bullish breakout if price sustains above $7.50.
Mid-Term Outlook: Profit-taking likely near $8.00, but further continuation depends on breaking this level.
---
Trade Signals for FIL/USDT
Trade Setup
Entry Zone: $7.30 - $7.35
Stop Loss: $6.85
Targets 🎯
1. Target 1: $7.65 (short-term breakout level)
2. Target 2: $8.00 (psychological barrier)
3. Target 3: $8.40 (potential extension with strong momentum)
Risk-Reward Ratio: ~2.5:1 (depending on entry and target levels)
---
Momentum Outlook:
Short-Term: Bullish, suitable for quick profits.
Mid-Term: Neutral to bullish; a confirmed break above $8.00 strengthens the trend.
Long-Term: A drop below $6.62 could shift momentum bearish.
✅ New traders, join me for daily updates and more trading advice!
