.FIL Price Analysis – Kriptom – Filecoin’s FIL token is in a strong uptrend. After the sharp rally on March 16 and 17, it looks like short-term traders made a profit take that resulted in a minor correction on March 18. However, the shallow retracement indicates that the majority of traders are not in a hurry to exit.
The bulls are trying to hold the FIL / USD pair above $ 73.79, which marks just below the 38.2% Fibonacci retracement level of $ 75.74. If the bulls are successful, the rate could rise to $ 96.66 again.
A break and close above this resistance could start the next leg of the uptrend, which could reach $ 128.55.
Conversely, if the bears pull the price below $ 73.79, the pair could drop to the 20-day EMA ($ 59.95). A strong recovery from this support will indicate that the trend remains positive, but a break below it, a short-term peak may be present.
However, the bears have no mercy as they aggressively defend the $ 86 level. If the bears pull the price below the 20-EMA, the pair could drop back to $ 73.79. A break below this level will give the bears an advantage.
Alternatively, if the pair returns to $ 73.79, it can extend its stay within range for a few more days. Flattening 20-EMA and gradually weaker RSI also point to a possible consolidation. A break above $ 86 could indicate a resumption of the uptrend.
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