FIlecoin (FIL) Pumps by Nearly 13% as Price Action Aims at the $5.00 Mark

Azeez Mustapha

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Filecoin’s price action has ramped up significantly today. Consequently, price action in this market has the right standing to attain a higher price level. And considering signs emanating from technical indicators, it’s more likely that prices in this market extend their upside move.

FIL Statistics
FIL Value Now: $4.53
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: $4.53, $4.90, and $5.20
Base: $4.32, $4.00, and $3.70

FIlecoin (FIL) Pumps by Nearly 13% as Price Action Aims at the $5.00 Mark

Filecoin Price Action Eyes the $5.00 Price Mark

As a result of today’s price pump in Filecoin’s market, this coin has broken above the $4.50 region. Also, it can be seen that this token has significantly extended the price correction that started on the 12th of June.

The lowest price candle on this chart has convincingly placed price action above the 9- and 21-day Moving Average (MA) lines. This has increased the chances of price action approaching the short-term resistance at $4.60.

Furthermore, the Relative Strength Index (RSI) indicator lines maintain an upward bearing even after reaching the oversold region. This shows that price action still has some bullishness to meet more upside expectations.

FIlecoin (FIL) Pumps by Nearly 13% as Price Action Aims at the $5.00 Mark

FILUSDT Price Movements Stay Consistent with Upside Focus

Sliding to a smaller FILUSDT time frame, which could help us detect any inconsistencies or more short-term developments, it could be seen that price action in this market retains a good outlook.

Price action has been around the 9-day MA curve since about five trading sessions ago. At this point, the RSI curves are still rising steadily into the overbought region from above the 60 mark of the indicator.

Also, the ongoing session has witnessed a significant price increase. The last price candle is sitting above the 9- and 21-day MA lines even on this 4-hour market, revealing that price action is still on its way to the upside toward $5.00.

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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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