In this Filecoin technical analysis, we will examine the current price action, trading volume, key levels and indicators for FIL-USDT. Filecoin is a decentralized storage network that rewards users with cryptocurrency for contributing unused hard drive space. FIL tokens can be used to purchase storage and bandwidth on the platform, creating a market-based system for data storage and retrieval. With Filecoin, users have full control over their data and can earn passive income by renting out their unused storage capacity.
Filecoin Price Overview:
As of June 29, 2024, Filecoin is trading at approximately 4.381 USDT. Let’s dive into the detailed price action for FIL-USDT:
| Metric | Value |
|---|---|
| Open (O) | 4.383 |
| High (H) | 4.452 |
| Low (L) | 4.377 |
| Close (C) | 4.381 |
| Volume (C) | 1,457,112.69 |
- Open (O): The opening price for today’s trading session was approximately 4.383 USDT.
- High (H): Filecoin reached a daily high of around 4.452 USDT.
- Low (L): The daily low for FIL-USDT was approximately 4.377 USDT.
- Close (C): At the time of analysis, Filecoin is trading near its daily close of 4.381 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.05% |
| 3D Change (%) | -0.32% |
| 7D Change (%) | 0.07% |
| 30D Change (%) | -24.57% |
| 90D Change (%) | -56.01% |
| YTD Change (%) | -36.70% |
Over the past three days, FILUSDT has dropped by approximately -0.32%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 0.07%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with FILUSDT maintaining a downward trend of approximately -24.57%, despite intermittent fluctuations. Examining the last 90 days, FILUSDT has witnessed substantial decline of approximately -56.01%, reflecting strong long-term confidence. Year-to-date, FILUSDT has steadily dropped by around -36.70%, 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-USDT 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 0.63931.
- Momentum score is -0.27647.
FIL USDT Technical Analysis
Filecoin Trading Volume:
The trading volume for Filecoin (FIL) over the past 24 hours has been insignificant, with approximately 1,457,112.69 USDT 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-USDT is currently in the low zone, around 38.27934. This suggests that Filecoin is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Filecoin (FIL-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Acknowledge potential headwinds for Filecoin (FILUSDT) at 4.38 USDT through bearish technical analysis, featuring weakened support and cautionary indicators.
Don’t skip our thorough exploration of FIL BTC Filecoin Technical Analysis if you resonated with this post; it’s the perfect next step for deeper understanding.
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.