Filecoin

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>The volume of the filecoin crypto has been declining for the last 24 hours.</a> </li> 
 <li> <span>2</span> <a>The FIL coin has a higher long liquidation as compared to the short liquidation in the last 24 hours.</a> </li> 
</ul> 
<p>Filecoin aims to create a decentralized storage network that enables anyone to store, retrieve, and host digital information. The FIL coin is the native cryptocurrency used for payment and incentives on this platform. It also ensures the reliability of file storage over time.</p> 
<p>The volume-to-market cap ratio of the FIL token is about 5.71%. The circulating supply of this cryptocurrency is around 449.96 million FIL, out of a total supply of 1.961 billion FIL. The highest price that this cryptocurrency ever reached was $236.84. Now, it is down by about 98.58% from its peak, and the lowest price that the crypto ever had was $2.64.</p> 
<p>The USDT pair is the main trading activity for the FIL crypto, with about 26.21% of its trading volume happening on the HoubiPro exchange. This crypto asset is a Web3-type coin and its derivative volume has dropped by 13.93% in the last 24 hours to $158.74M.</p> 
<h2 class="wp-block-heading" id="strong-fil-price-technical-analysis-strong"><strong>FIL Price Technical Analysis&nbsp;</strong></h2>  
<p><a href="https://in.tradingview.com/chart/FILUSD/UQV8mWJN-a/" rel="noopener noreferrer nofollow">a</a> by <a href="https://in.tradingview.com/u/writer11_gsm/" rel="noopener noreferrer nofollow">writer11_gsm</a> on <a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow">TradingView.com</a></p>  
<p>The consistent decline in the price of the coin has led to the formation of a falling wedge pattern. The token is still trading inside the same following a downtrend. The price is currently trading on the verge of the wedge pattern but making indecision candles which represents uncertainty in the market.</p> 
<p>The price has been falling steadily from its peak. It has caused the 50-day Exponential Moving Average (EMA) and the 200-day EMA to intersect in a downward direction, creating a death cross. That is a sign of a negative shift and indicates that the market is on a downward trend, which matches the ongoing price drop.</p> 
<p>The FIL cryptocurrency’s Relative Strength Index (RSI) has dipped into the oversold zone, as it is trading below the 50-level mark. It shows that the market has a negative outlook on the cryptocurrency’s price and the RSI is now moving above the 50-level mark. Suppose it reaches the overbought zone, the market may see higher levels.</p> 
<h2 class="wp-block-heading" id="strong-filecoin-volume-analysis-strong"><strong>Filecoin Volume Analysis</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/NysU4iN536c2U0tVCVyO78OvUzsvNcCzJH7QmljwJ64xEHoBDRS0-6B_OEdXLJznHidMEgf1MEDLyzYsaMof2jv4OW8fOdiV8nqy1_Hcl44wvkZtRdJmU1RLR_fYuTShkLnNZUxWCg8n5MD7wueQk74" alt="Filecoin is Sustaining at the Lower Levels, What’s Coming Next?"> 
  <figcaption class="wp-element-caption">
    Source: <a href="https://www.coinglass.com/currencies/FIL" rel="noopener noreferrer nofollow">Coinglass</a> 
  </figcaption> 
 </figure> 
</div> 
<p>There has been no significant change or advance in the volume of crypto. The current volumes are dried, which indicates that the trading community is not showing any interest in<a href="https://www.thecoinrepublic.com/2023/09/14/filecoin-price-prediction-2023-will-fil-sustain-or-get-detained/" rel="noopener noreferrer nofollow"> FIL crypto.</a></p> 
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3> 
<p>The FIL coin is following a negative market character resulting in the decline in price and is currently trading inside a wedge pattern with negative RSI and EMA. The volume of the crypto has also declined in the last few days.</p> 
<p>Therefore, the crypto’s price may continue to decline to lower levels unless it breaks above the level of $5.00, resulting in a change of character to bullish.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels&nbsp;</strong></h4> 
<ul> 
 <li>Support levels: $2.40 and $3.00</li> 
 <li>Resistance: $5.00 and $6.30</li> 
</ul> 
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4> 
<p>The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

Filecoin is Sustaining at the Lower Levels, What’s Coming Next?

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Thecoinrepublic.com

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