Filecoin price analysis has remained quite bullish today as we saw the price increasing from yesterday’s closing of $5.89 to the current closing price of $6.24. However, Filecoin is yet to retest local high of $7.53 that it set in the past week. For now, it seems to be in a range of $5.72 to $6.55.
Based on the crypto heat map above, Bitcoin and Ethereum both marked an increase of 3.52 percent and 1.31 percent respectively. We can notice how the remaining market is reacting to this changes. All the altcoins seem to be following the course set by Ethereum and Bitcoin, although some smaller coins can be seen in the red zone.
Similarly, we can also see that the 1-day Filecoin price analysis is showing a very balanced RSI around the 50s. Furthermore, the MACD is also not showing any significant movement. So, it appears that the market is quite balanced right now and there is no expectation of sudden movements in either direction for now.
Filecoin 24 hour price analysis
24 hour ago, Filecoin closed at $5.89 and its current price is $6.25, which is a noticeable increase. However, we also saw Filecoin setting a local resistance at $6.35 today after which the price slightly dipped. If we talk about the difference in its market cap, there has been an increase of 4.65. Similarly, the trading volume went lower by 36 percent in the last 24 hours, bringing the ratio of both to 0.1152.
4-hour Filecoin price analysis: FIL/USD continues to move between $5.72 and $6.55
Other than the fact that Filecoin remained slightly bullish today, nothing much can be seen in the market’s movement. On the 4-hour chart, we see the same pattern as the market continues to consolidate sideways. It is expected to maintain this same behavior for the next few hours also.
Filecoin price analysis: Conclusion
Filecoin market has has bullish sentiments today. However, this is not expected to last longer because it is currently moving in a range and closing in on its upper bounds. Based on the uncertainty in Filecoin price analysis, it is not a good time to buy it right now. For a long-term prediction, we suggest you read our Filecoin price prediction.
