Filecoin

<ul><li>Filecoin&#39;s 63-day sideways trend indicates significant market uncertainty.</li><li>$FIL&#39;s following critical levels are $2.75 for support and $3.50 to $4.00 for resistance.</li><li>MACD &amp; RSI readings lean bearish, urging investors to exercise caution in decision-making.</li></ul>Over the past two months, the cryptocurrency market has seen many coins trading in a range, but none more closely watched than Filecoin ($FIL). As per a tweet shared by technical analyst CryptoBusy, speculators and traders are on edge, having mainly moved sideways for a noteworthy 63 days, anticipating the coin&#39;s next significant move.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/9f78f0e3a4014e1f8aae304823bcb77c.png" />Filecoin currently stands at<a href="https://coinmarketcap.com/currencies/filecoin/" rel="noopener noreferrer nofollow"> $3.17</a>, down significantly after a troubling break from its Ascending Triangle formation, a pattern often observed before a strong move in either direction. The digital currency&#39;s slip below crucial price thresholds, namely the $4.00 and $3.50 marks, paints a grim picture for its short-term prospects. It last touched such lows in June, when it found footing around the $2.75 price point. Today, this mark represents the closest significant support zone.However, it&#39;s not all doom and gloom for the $FIL supporters. There have been attempts by the cryptocurrency to rally back, particularly towards the $3.50 resistance zone. A successful breach above this resistance might open doors for a potential surge to the $4.00 level. Investors and traders alike would be wise to watch these crucial price levels, as they could dictate the coin&#39;s trajectory in the coming weeks.Read full article at<a href="https://cryptotale.org/bearish-momentum-signals-caution-for-filecoin-investors/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Bearish Momentum Signals Caution for Filecoin Investors

CryptoTale

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