Filecoin (FIL) Market Witnesses Explosive Bullish Momentum

Today’s trading activity in the Filecoin market has exhibited a significant bullish trend, breaking through the psychological resistance level at the $10.00 mark. Although the ongoing session appears to reflect some rejection, let’s delve deeper into the price movements in this market.

Filecoin Statistics:
Current FIL Value: $10.35
Filecoin Market Cap: $5,496,995,758
FIL Circulating Supply: 518,732,441
Filecoin Total Supply: 1,960,862,529
FIL CoinMarketCap Rank: 21

Key Price Levels:
Resistance: $10.35, $11.00, and $12.00
Support: $10.00, $9.00, and $8.00

 

Filecoin Maintains Strong Bullish Momentum

The FILUSDT daily market experienced an explosive session previously, and the token has managed to sustain the momentum. The current price candle for the ongoing session exhibits both upper and lower shadows, indicating active market forces.

However, it’s noteworthy that the upper shadow is significantly shorter than the lower one, suggesting that upside forces still hold sway in the session.
Additionally, the token continues to trade above the uppermost limit of the Bollinger Bands. Moreover, the bars of the Moving Average Convergence Divergence (MACD) indicator remain solid green above the equilibrium level, with the lines trending upward. This validates the use of bullish crypto signals in this market.

FIL Market Maintains Focus on Hitting Higher Price Marks

In the Filecoin 4-hour market, the current session presents a tiny spinning top-shaped price candle. However, prices have increased compared to the daily chart, indicating a continued upward trajectory.

Furthermore, the MACD lines continue to trend upward, with the bars of the indicator appearing above the MACD center line and being solid green in appearance. Technically applied indicators on this chart reinforce the advantage of upside forces, potentially leading to a retracement towards the $11.20 mark.

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