Filecoin Price Prediction: Will Filecoin Price Reach $10?

• Filecoin value prediction favors nan bulls and suggests uptrend whitethorn proceed successful future.
• Filecoin value is trying to prolong supra nan 50- and 200-day EMA.
• The brace of FIL/BTC is trading astatine $0.0002330

Filecoin value prediction suggests value whitethorn emergence successful nan agelong term. Filecoin value recovered 40% (approx.) from nan caller debased astatine $4.660 and formed a bullish reversal pattern. However, nan confirmation of inclination reversal will travel erstwhile value will prolong supra nan 50 and 200 time EMA. 

Filecoin value is presently trading astatine $6.361 (at property time) pinch an intraday diminution of 0.45% and 24 hr measurement to marketplace ratio astatine 0.1922. The brace of FIL/BTC is trading astatine $0.0002330 pinch an intraday diminution of 0.13%. In mid-January, Filecoin value climbed supra nan 50-day EMA and began to consolidate successful nan Pre-FTX illness level. 

Filecoin crypto witnessed a monolithic spike successful buying measurement erstwhile China announced a prohibition connected crypto trading for their residents. Later, Filecoin collapsed retired of a higher scope and changeable up 40% successful a azygous time which creating FOMO fixed nan rush.

Filecoin value halted astatine $9.515 and grounded to springiness nan travel up momentum. Therefore, $ 9.515 will enactment arsenic a beardown hurdle for nan bulls. Later, wide marketplace sentiment besides started turning bearish and Filecoin value sewage negatively impacted. Slowly and steadily Filecoin value started declining, forming little lows and ended up losing each its erstwhile gains.

Will Filecoin Price Rise again and Reach $10?

FIL/USDT Daily floor plan by TradingView

Filecoin value took support astatine $4.660 and gave a crisp bounce showing that $4.000 to $4.660 will enactment arsenic a request area for nan bulls. The measurement of Filecoin is still higher than mean which indicates that volatility will stay precocious successful nan coming fewer days. Technical study suggests that prices are successful bullish grip and is expected to clasp nan support levels mentioned successful nan chart. However, nan probability of reaching $10.00 will summation erstwhile FIL crypto is capable to prolong nan value supra nan 200 time EMA. 

Filecoin value mightiness emergence again if nan wide marketplace sentiment remains affirmative for nan coming months. On nan different hand, if nan business flips connected its head, past FIL crypto bears whitethorn extremity up striking nan value down to $4.000. Technical indicators of Filecoin for illustration MACD had generated a caller affirmative crossover indicating bullishness to proceed for immoderate much time. The RSI astatine 52 sloping sideways denotes neutral area and equilibrium betwixt bullish and bearish positions. 

Conclusion

Filecoin value prediction remains bullish successful nan agelong word and it whitethorn scope nan $10.00 people successful nan adjacent shape of nan rally. Filecoin value recovered astir 40% from nan caller debased which indicates buyers are progressive astatine nan little levels. Technical study suggests Filecoin crypto is successful bullish grip but prices mightiness consolidate successful a constrictive scope earlier deciding further direction.

Technical levels

Resistance levels : $8.045 and $9.516

Support levels : $4.660 and $4.000

Disclaimer

The views and opinions stated by nan author, aliases immoderate group named successful this article, are for informational purposes only, and they do not found financial, investment, aliases different advice. Investing successful aliases trading crypto assets comes pinch a consequence of financial loss.