FIlecoin (FIL) Continues to Close in on Target at the $5.00 Mark

Azeez Mustapha

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The FILUSD price action has moved upward by a whopping 18.97% within 24 hours. Even at that, price action is still behaving as if more upside retracement is on the way. Let’s dive in to see what may soon happen in this market.

FIL Statistics
Filecoin Value Now: $4.82
Fillecoin Market Cap: $2,081,862,342
Filecoin Circulating Supply: 433,557,235 FIL
FIL Total Supply: 1,962,043,086
Filecoin CoinMarketCap Ranking: 30

Major Price Levels:
Top: $4.82, $5.20, and $5.70
Base: $4.52, $4.00, and $3.60

FIlecoin (FIL) Continues to Close in on Target at the $5.00 Mark

FILUSD is Already Testing the $5.00 Price Ceiling

 

In more recent times, price action in the FILUSD market has recorded consistent gains, which has set an upward path for price action in this market. However, this token has gained significant traction in the ongoing session.

 

An interesting thing here is that price action seems not to have drawn the attention of bears. Meanwhile, the Relative Strength Index (RSI) indicator retains its upside bearing as the leading line has now reached the 100 level mark.

 

At this point, the last price candle has pushed prices closer to the $5.00 mark. Additionally, the wick of this price candle is now testing the mentioned price ceiling. An increase in upside momentum will aid a stronger upside retracement.

FIlecoin (FIL) Continues to Close in on Target at the $5.00 Mark

Filecoin’s Price Is Determined to Keep Rising

 

The bulls are very determined to keep pushing Filcoin’s prices higher, even in the 4-hour market. It could be seen that a new session has started, and given the appearance of the price candle that represents this session, buyers are at an advantage.

 

The last price candle here is now far above the MA lines. Consequently, this seems to maintain that upside forces are very strong. And unless strong selling pressure is mounted, prices may keep rising.

 

Meanwhile, the RSI lines are now glued together but seem ready to keep moving into the overbought region.

 

Since there is no clear crossover, price action may keep extending upside towards the $5.50 mark.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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