In this Filecoin technical analysis, we will examine the current price action, trading volume, key levels and indicators for FIL-BTC. Filecoin is a decentralized storage network that utilizes blockchain technology to provide secure and reliable data storage solutions. It leverages a proof-of-spacetime consensus algorithm to incentivize miners to contribute excess hard drive capacity, creating a robust and resilient network of storage providers. With Filecoin, users can store and retrieve files with ease, while benefiting from the security and transparency of blockchain technology.
Filecoin Price Overview:
As of May 11, 2024, Filecoin is trading at approximately 9e-05 BTC. Let’s dive into the detailed price action for FIL-BTC:
| Metric | Value |
|---|---|
| Open (O) | 9e-05 |
| High (H) | 9e-05 |
| Low (L) | 9e-05 |
| Close (C) | 9e-05 |
| Volume (C) | 81,605.23 |
- Open (O): The opening price for today’s trading session was approximately 9e-05 BTC.
- High (H): Filecoin reached a daily high of around 9e-05 BTC.
- Low (L): The daily low for FIL-BTC was approximately 9e-05 BTC.
- Close (C): At the time of analysis, Filecoin is trading near its daily close of 9e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.43% |
| 3D Change (%) | -1.18% |
| 7D Change (%) | -2.85% |
| 30D Change (%) | -19.84% |
| 90D Change (%) | -16.27% |
| YTD Change (%) | -43.74% |
Over the past three days, FILBTC has decreased by approximately -1.18%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -2.85%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with FILBTC maintaining a downward trend of approximately -19.84%, despite intermittent fluctuations. Examining the last 90 days, FILBTC has witnessed substantial fall of approximately -16.27%, reflecting strong long-term confidence. Year-to-date, FILBTC has steadily dropped by around -43.74%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Filecoin Live Chart:
You can access a live price chart for FIL-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.33394.
- Momentum score is -0.09971.
FIL BTC Technical Analysis
Filecoin Trading Volume:
The trading volume for Filecoin (FIL) over the past 24 hours has been insignificant, with approximately 81,605.23 BTC traded against FIL. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): FIL is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Filecoin is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for FIL-BTC is currently in the low zone, around 40.16189. This suggests that Filecoin is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Filecoin (FIL-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Delve into potential challenges for Filecoin (FILBTC) at 9.21e-05 BTC, guided by bearish technical analysis emphasizing weakened support and cautionary indicators.
Missing our detailed breakdown on FIL USDT Filecoin Technical Analysis would be a lost opportunity if you found value in this post.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.