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<div class="coinjournal">
 <ul>
  <li dir="ltr">Filecoin (FIL) risks deeper pullback as price retreats to key level.</li>
  <li dir="ltr">FIL traded near $4.6 on Friday afternoon, about 8% down in the past 24 hours.</li>
  <li dir="ltr">If prices fall further, bulls could rely on primary support near $3.1 to $2.7</li>
 </ul>
 <p dir="ltr">Filecoin (<a rel="noopener noreferrer nofollow" title="FIL" href="https://thebittimes.com/tag/fil.html">FIL</a>) price is likely to <a rel="noopener noreferrer nofollow" title="retreat" href="https://thebittimes.com/tag/retreat.html">retreat</a> below a critical support <a rel="noopener noreferrer nofollow" title="level" href="https://thebittimes.com/tag/level.html">level</a> after the altcoin’s performance mirrored the <a rel="noopener noreferrer nofollow" title="struggles" href="https://thebittimes.com/tag/struggles.html">struggles</a> seen in the Bitcoin (BTC) market in the past 24 hours. Filecoin price was changing hands around $4.6, down roughly 8%.</p>
 <h2 dir="ltr" id="fil-price-outlook-will-bulls-hold-onto-gains">FIL price outlook – will bulls hold onto gains?</h2>
 <p dir="ltr">While bulls could rebound off the $4.2 price <a rel="noopener noreferrer nofollow" title="level" href="https://thebittimes.com/tag/level.html">level</a>, the technical outlook presents a potential dip to lower buffer areas.</p>
 <p dir="ltr">The 8% decline in <a rel="noopener noreferrer nofollow" title="FIL" href="https://thebittimes.com/tag/fil.html">FIL</a> value the past 24 hours adds to this observation, particularly if Bitcoin, Ethereum and other top alts fail to find a bounce to stem current bleeding.</p>
 <div class="fr-img-space-wrap"><span class="fr-img-caption fr-fic fr-dib fr-draggable" style="width: 100%"><span class="fr-img-wrap"> <p dir="ltr"><img decoding="async" src="https://cdn.thebittimes.com/images/2023/11/18/90ca9f52987d776a035411f639970550.webp" style="width: 100%" class="fr-fic fr-dib" width="600" height="260"><span class="fr-inner">Filecoin price chart. Source: TradingView</span></p> <p></p></span></span>
  <p class="fr-img-space-wrap2">The technical view presents a picture of uncertainty after bulls got rejected at $5.6 and then gave up $4.7.&nbsp;</p>
  <p class="fr-img-space-wrap2">We can see both the daily RSI and MACD indicators are signalling weakness, with the RSI indicator above 50 but downsloping. The MACD indicator suggests a bearish flip.</p>
 </div>
 <p dir="ltr">In terms of a bearish outlook, Filecoin risks falling to the $3.9 support line, with extended downward pressure here likely to push FIL/USD to the critical demand reload zone between $3.1 and $2.7.</p>
 <p dir="ltr">However, the 19% decrease in daily trading volume points to a potential flip in sell pressure. &nbsp;As such, the opposite setup could see FIL rebound off the $4.2-$4.4 area to reclaim $5.0 as support.</p>
 <p dir="ltr">If this happens, a move to the recent six-month peak above $5.6 could allow bulls to attack $6.5. The short term picture could pave way for more bullish movements should the broader market provide favourable conditions.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/filecoin-fil-retreats-to-key-level-as-bitcoin-struggles-near-36k-tbt70724.html">https://thebittimes.com/filecoin-fil-retreats-to-key-level-as-bitcoin-struggles-near-36k-tbt70724.html</a></p>

Filecoin (FIL) retreats to key level as Bitcoin struggles near $36k

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TheBitTimes

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