#FIL $FIL

Forecast for FIL/USDT: Current Situation and Key Levels

At the moment, Filecoin (FIL) price is in a zone of uncertainty. The weekly candle closed below the $7.880 resistance level, raising concerns about buyers’ weakness. This level is confirmed as a significant historical resistance that the market has yet to overcome.

Key Observations:

1. Resistance Level: $7.880 – the zone buyers need to break to resume the uptrend.

2. Support Levels:

Local Support: $6.500 – an area where a rebound has previously occurred.

Major Support: $5.700 – a critical zone, and its breach may strengthen bearish sentiment.

3. Volumes: Current declining volumes are below average, indicating indecision among market participants. A volume increase during a downward move would confirm sellers' pressure.

Technical Outlook:

On the daily timeframe, a narrowing range is visible, which could lead to an impulsive move.

The weekly candle closed with a long upper shadow, indicating sellers' dominance near the $7.880 resistance level.

Potential Scenario:

If the $7.880 level remains unbroken, there is a high probability of a decline toward $6.500, where buyers might attempt to regain control. However, a breakout above $7.880 with confirmation could signal further growth, targeting $8.500 and $9.200.

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⚠ Important Note:

This material is provided for informational purposes only and does not constitute financial advice. Any decisions to buy or sell assets are made at your own risk based on your own analysis and strategy.

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