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✴️ Filecoin 4th Day Green | Everything Starts Growing?Is it me or everything is already starting to speed up as Mercury stations direct? I don't think is me, the market is starting to heat up following our September 2023 Roadmap . Hold on, let's try again. It is no longer a "feeling", a "prediction" nor "astrology woohoo"... The Altcoins market is starting to move forward, I can see the pairs, the prices, the value, the capitalization, everything going up. ✔️ Filecoin (FILUSDT) found support and with bullish indicators is starting to rise. ✔️ Three days green and today is the fourth day, follow through is in place. ✔️ Consolidation pattern broken, bullish divergence... The low volume will now start to go up. ✔️ It's been a very long correction, the entire year basically (since February) but this is definitely the final call. 👉 The Cryptocurrency market is going bullish, Filecoin is just one of those. Namaste.
Long
by MasterAnanda
1
#FIL/USDT - Long - Potential 87.47%Strategy: Long Exchange: BINANCE Account: Spot Entry mode: DCA Limit Invest: 0.5 - 1% Take Profits: Target 3 : 7.977 104.64% Target 2 : 6.002 53.98% Target 1 : 4.711 20.86% DCA Entries: Entry 1: 4.232 - 50% Entry 2: 3.546 - 50% Current market price: 4.232 Stop Loss: 2.913 (-25.27%) Analysis: FIL has broken its 200MA peaking my interest in a very solid ALT at the start of a bull run. With Spot ETF's increasing demand and the halving constricting supply (and multiple extremely bullish technical indicators) BTC and therefore the crypto market as a whole is looking bullish. Traditionally the volume making its way into BTC would trickle down through the ALTS in order of market cap however the presence of looming regulation over the 2024 bull run will require traders to be more selective in the ALT market that previous bull runs where almost all ALTs caught enough volume from BTC to pump. ETF applicant Greyscale recently published their analysis of the ALT market and included FIL amongst their 'assets with utility and service' section highlighting it as the standard in its asset class. Why? Well FIL has a very real world utility. Data storage is not only a massive industry it is a massive growth industry and FIL presents a needed solution to the problem of centralisation that affects market leaders Cloudflare and AWS. Decentralized networks are resilient because the storage doesn't have a single point of failure. FIL offers data immutability, enhanced privacy and therefore better overall security. It also protects the integrity of a data’s location, making it easily retrievable and hard to censor. I think FIL is therefore a 'best in class' ALT with massive upside potential in the market. Technical indicators: FIL is currently sitting in a large bank of buy orders (shaded rectangle) stretching from market price all the way down to 2.35 with a real concentration around 3.141 hence the stop loss positioning. We've broken out of two bullish pennant / wedge structures (solid white and dotted white lines on the chart) showing that long and mid term downtrends have been broken and the RSI is showing strong upward momentum with loads of room before we hit overbought. Even then the last time the RSI breached 80 and went overbought price spiked a further 25% (Feb 15th). We are about to move into sell order territory, breaking up from here is possible if BTC breaks and pulls in liquidity, if not and BTC retraces I'd expect the large caps to follow suit hence the DCA order at 3.54 (this may be a little low so be prepared to 'buy the dip' if price rebounds early in the case that BTC does correct). TP's are derived from the FIB on the chart aside from TP1 which its the top end of the sell order block overhead. The idea being here that if we do get rejected we might wick up to this point. 24h Volume: 32516103.8382 Satoshis: 4.232 Analysis: TradingView Volume last 24h: 32516103.84 USDT Let me know what you think or f you have any questions!
Long
by CryptoNicho
FIL Unlocking Potential: The Perfect Entry Point for Profits 💰Welcome to our crypto exploration hub! We're here to navigate the exciting world of digital assets, providing you with comprehensive insights into market dynamics and potential trading opportunities.Our mission is to decode the crypto market's mysteries and equip you with the knowledge you need to make informed investment choices. From the latest developments in Bitcoin to the hidden potential of various altcoins, we're your trusted source for daily technical analysis.While technical analysis is a valuable tool, it's important to remember that it's just one piece of the puzzle. We encourage you to take a well-rounded approach to your investments, considering factors like macroeconomic trends, news, and community sentiment.Join us for the freshest analyses, and don't hesitate to join the conversation in the comments below. Keep in mind that our content is purely for educational purposes and should not be construed as financial advice. Always integrate it into your broader investment strategy."
Long
by MoonTradingForecast
FIL/USDT potential move? 👀 🚀 FIL Today Analysis💎 Paradisers, gear up for a promising prospect with FILUSDT as it firmly anchors to a crucial support, signaling a potential bullish shift. 💎 In our past assessments, FILUSDT displayed a pattern of descending channel movement. However, post its breakout, it embarked on an upward trajectory, only to face rejection from the overhead supply. 💎 Currently, it's revisiting the descending channel, which intriguingly now serves as a support. Our analysis suggests a strong likelihood of the price challenging the supply zone once again in the upcoming sessions. 💎 On the flip side, should FILUSDT fail to sustain its momentum above the support and breach it, brace for a notable downward movement. 💎 Remember to employ prudent trading strategies and use proper stop-loss measures! Stay alert to market movements and look forward to more insights
Long
by MyCryptoParadise
Filecoin (FIL): Can It Break Free from Bearish Grip?In the ever-fluctuating world of cryptocurrencies, investors and enthusiasts are closely watching the price movements of Filecoin (FIL) as it attempts to break free from the clutches of persistent sellers and consolidate its position in the market. While other digital assets have shown signs of bullish momentum, Filecoin has struggled to make significant gains, and it remains entrenched in a broader downtrend. A Battle to Sustain Above the 20-day EMA Filecoin, like many other cryptocurrencies, has had its share of ups and downs. At the moment, it is making a concerted effort to sustain itselfabove the 20-day Exponential Moving Average (EMA). This key indicator is often used by traders to gauge short-term trends and marketsentiment. For Filecoin, however, this hasn’t been an easy task, as persistent selling pressure has made it challenging for the bulls to gaincontrol. Filecoin’s Ongoing Downtrend Amidst Bullish Crypto Market While the overall sentiment in the cryptocurrency market has been bullish, Filecoin seems to be moving against the tide, remaining in a consistent downtrend. The coin has been forming lower lows, indicating a general weakening of its position despite the broader positivity in the crypto sphere. Investors and traders are keen to understand the factors contributing to this trend and whether there is any hope for a reversal. The 38.2% Fibonacci Retracement Zone: A Potential Turning Point One glimmer of hope for Filecoin is its current position near the 38.2% Fibonacci retracement zone. This is a critical level for technical analystsand traders as it often serves as a turning point for assets experiencing corrections. Buyers have been making determined efforts to initiate afresh recovery, setting their sights on a crucial swing barrier at $3.40. The question on everyone’s mind is whether this zone will serve as alaunching pad for Filecoin’s resurgence. Resilient Buyers Amidst Selling Pressure Despite the prevailing downtrend, Filecoin’s buyers have displayed remarkable resilience. They have consistently absorbed the sellingpressure, indicating their commitment to preserving gains. This resilience hints at a potential shift in the balance of power in the market.Investors are cautiously optimistic that this might be the catalyst for a much-anticipated upward trend. Understanding Filecoin’s Unique Challenges To make sense of Filecoin’s struggle within the cryptocurrency market, it’s essential to consider some of the unique challenges the projectfaces. Filecoin is a blockchain-based, decentralized storage network designed to provide secure and efficient data storage services. However,the decentralized storage sector is highly competitive, and Filecoin faces stiff competition from other projects offering similar services. One of the significant factors impacting Filecoin’s performance is its direct relationship with data storage supply and demand. The token’svalue is inherently linked to the utilization of its storage services. Therefore, any fluctuations in the demand for decentralized storage can havea direct impact on Filecoin’s price. The Role of Persistent Sellers One of the primary factors suppressing Filecoin’s price is the presence of persistent sellers. It’s not uncommon for cryptocurrency markets tohave a mix of long-term investors and short-term traders. Short-term traders often seek to profit from price volatility, and their activities canlead to frequent price fluctuations. While long-term investors may hold onto their FIL tokens in anticipation of future value, short-term traders may sell in response to short-term market dynamics. This constant supply of tokens in the market can create downward pressure on prices. Technical Analysis and the Fibonacci Retracement Technical analysis plays a significant role in evaluating the potential price movements of cryptocurrencies. The 38.2% Fibonacci retracement level, as mentioned earlier, is a key tool used by analysts and traders. This level often serves as a support or resistance zone, where price trends can reverse or gain momentum. A Glimpse of Hope at $3.40 As Filecoin’s buyers focus on the swing barrier at $3.40, it’s a price point that holds considerable significance. Breaking through this barrierwould not only represent a technical victory but could also signal a change in market sentiment. Traders and investors often look at roundnumbers and historical price levels as important psychological and technical levels. Successfully surpassing this barrier could set the stage fora more substantial recovery. Potential for a Reversal While Filecoin’s challenges are evident, it’s important to remember that the cryptocurrency market is known for its volatility andunpredictability. Sentiments can change rapidly, and what may seem like a downtrend could suddenly reverse course. Filecoin’s unique position in the decentralized storage space, combined with the determination of its buyers and the technical analysis at play,provide a glimmer of hope. If the market sentiment shifts, and demand for decentralized storage increases, Filecoin may see a resurgence.
Long
by DEXWireNews