The Filecoin price analysis is showing signs of an uptrend. The bulls have succeeded in taking the lead once again as the FIL/USD price is rising. Although the bears have been ruling the market for some time, Currently the trend is again in favor of the buyers. The bullish return has resulted in the price climbing above the $3.01 hurdle.
The Filecoin price analysis has increased the support level to $2.97. The resistance is also strong at $3.03, which could act as a catalyst for further bullish momentum in the near term. The coin has gained more than 0.73% over the past 24 hours and is currently trading at $3.01. The market cap has increased to $1.055 billion, with a 24-hour trading volume of $67 million.
FIL/USD 1-day price chart: Upturn in price observed after bullish comeback
The daily Filecoin price analysis confirms a bullish trend for the day, as the bulls have succeeded in making a comeback. There have been constant fluctuations in the price movement since the beginning of the day. The price has increased from $2.99 to $3.01, in the last 24 hours. The bulls are trying to take the price above $3.03, however, this resistance level has yet to be crossed.
The Moving average convergence divergence (MACD) indicator is currently in the bullish zone, with the histogram moving in the positive direction. The MACD line is also moving above the signal line, which could be a sign of further bullish momentum. The relative strength index (RSI) indicator is also in the overbought region, which suggests that the buyers are in control at the moment. The 50-day Moving Average (MA) line is currently above the 200-day MA line, which confirms a bullish trend for the medium term.
Filecoin price analysis: Price rallies past $3.01 after a bullish takeover
The four hours Filecoin price analysis is dictating a rise in price. The bulls have been ruling the price chart for the past few hours, and an increasing movement has been observed in the last fours as well. The bulls have lifted the price to the $3.01 level, and further intensification in the bullish trend is expected.
The moving average convergence divergence (MACD) indicator has just entered the bullish zone, with the histogram and MACD line both moving in the positive direction. The relative strength index (RSI) indicator is also in the overbought region, suggesting that the bulls are in control at the moment. The 50-day Moving Average at $2.90 and the 200-day MA line at $2.79, both indicate a bullish trend for the medium term.
Filecoin price analysis conclusion
Filecoin price analysis suggests an increasing trend is taking over the market for the day as the bullish momentum is recovering. The price has heightened up to the $3.01 level because of the bullish trend. Further improvement in coin value can be expected if the bulls remain persistent in their efforts.
