📡 bullish and bearish signals that could shape your next big move!
A notable uptrend has emerged on the 4-hour chart for price #Filecoin , as closing prices moved from $10.15 to a high of $11.657 before experiencing a slight pullback, stabilizing around $11.487 and then falling sharply to 9 dollars. This pattern suggests volatile but bullish momentum in the near term, which has now faced significant resistance, leading to a price correction.
The 9° EMA has been rising steadily, indicating that the short-term momentum has been bullish. However, the recent price drop below the 9 EMA suggests a possible change in momentum. The 20 EMA, which starts at $9,866 and rises to $10,404, reinforces this bullish trend, as prices remained above the 20 EMA until the latest decline. This suggests a strong support level that the bulls managed to hold until the recent reversal.
The moving average convergence divergence (MACD) further illuminates the situation. With the MACD line moving from 0.213 to 0.490 above the signal line and the histogram widening, it indicates increasing bullish momentum. However, traders should be cautious as the latest price action may signal the beginning of a momentum shift.
The Relative Strength Index (RSI) supports the initially optimistic outlook, with values rising from 56.66 to 68.08, pointing to buying pressure. However, the fact that the RSI is close to overbought territory could have caused the recent sell-off as traders took profits.
Given the technical indicators and the current market structure, $FIL is at a crucial moment. Support levels at $10,301 and $8,919 are immediate areas where bulls can attempt to regain control
