FIL’s Price Has Surged More Than 50% Over the Last 3 Days

  • The altcoin has risen more than 16% over the last 24 hours and now trades at $8.80 as a result.
  • Technical indicators on FIL’s chart suggest that the upward move will continue in the next 24-48 hours.

The Twitter user, Andrew Kang (@Rewkan), tweeted a snapshot of the last time a complex pullback chart pattern appeared on Filecoin’s chart. In the tweet, Kang included a snapshot of the complex pullback occurrence and concluded the caption of the tweet with “Manifestation”.

The snapshot showed that the last time there was a complex pullback present on Filecoin’s chart the altcoin’s price surged more than 600%.

Currently, the price of Filecoin (FIL) is up more than 16% over the last 24 hours according to CoinMarketCap. As a result, the price of FIL stands at $8.80 at press time.

In addition to strengthening against the U.S. Dollar, FIL’s price has also strengthened against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), by 15.02% and 15.18% respectively.

The price of FIL has absolutely blown past the resistance level at around $5.858 over the last 3 days. This impulse started with an incredible 40.83% move on 17 February, 2023, which saw FIL’s price rise from a low of $5.397 to a daily high of $7.900 before closing off at $7.609. FIL’s price then retraced for the day that followed before entering into today’s 16+% move.

There is still bullish momentum present on FIL’s charts that could elevate the altcoin’s price even more in the next 24-48 hours. This bullish momentum is indicated by the 9-day EMA line which is positioned above the 20-day EMA line, as well as the daily RSI line which is sloped positively towards overbought territory and is positioned above the daily RSI SMA line.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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