๐The Filecoin price curve (
$FIL ) shows a strong and clear upward phase after a long period of consolidation and decline. Hereโs the simplified technical analysis ๐
๐น Overview of price movement:
Last bottom: at level 1.27 ๐ป
Current peak: at level 3.97 ๐บ
Approximate current price: 3.32
We observe that the price has risen by more than 200% approximately over a short period, which indicates a strong buying wave (Bullish Momentum) driven by significant momentum from traders.
๐ Technical analysis:
General trend:
The trend has shifted from bearish to strongly bullish, with a clear breakout of several consecutive resistance levels.
Support and resistance:
First support: 2.32
Second support: 1.73
Current resistance: 3.97
Next potential resistance: 4.20 then 4.80
Technical indicators:
Long blue candles reflect the strength of buyers and the continuity of momentum.
The yellow line (likely the Parabolic SAR indicator) is still below the price, confirming the bullish trend.
๐ฎ Short-term expectation:
If the price maintains stability above 3.00 โ 3.20, we may witness a retest of the level 3.97 and possibly a breakout towards 4.50 ๐
However, if it fails to hold above 3.00, the price may return to the support area of 2.30 โ 2.50 to rebalance before any new rise.
โ ๏ธ Alert:
The market is currently in an overbought zone, which may lead to a temporary correction before continuing to rise. It is best to monitor volume movement to confirm the upcoming trend.
#TRYHARED @Tryhared #FILCOIN