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Filecoin (FILUSD) Is Struggling to Break Down $60 Support Level – Cryptovibes.com – Daily Cryptocurrency and FX News

Filecoin (FILUSD) Is Struggling to Break Down $60 Support Level – Cryptovibes.com – Daily Cryptocurrency and FX News


FILUSD Price Analysis – September 25

Further increase in the bears’ momentum will make the price to break down the support level of $60 and this will expose the price to $39 and $15 support level. Should the $60 support level holds, the price may reverse and face the resistance level at $89, further increase in the bulls’ pressure may push up the price to $89, $123 and $160.

FIL/USD Market

Key levels:

Resistance levels: $89, $123, $160

Support levels: $60, $39, $15

 

FILUSD Long-term Trend: Bearish

FILUSD is bearish in the Long-term outlook. The coin bounced off the resistance level of $123 as the bulls’ momentum could not break up the mentioned level. The bears took over the market with the formation of strong bearish daily candles. The support level of $89 was penetrated downside and the price is declining towards the support level of $60. The price is currently testing the support level of $60.

FILUSD Daily chart, September 25

The fast Moving Average (9 periods) has crossed down the slow Moving Average (21 periods EMA) and the price is trading below the two EMAs as a sign of bearish movement. Further increase in the bears’ momentum will make the price to break down the support level of $60 and this will expose the price to $39 and $15 support level. Should the $60 support level holds, the price may reverse and face the resistance level at $89, further increase in the bulls’ pressure may push up the price to $89, $123 and $160. The relative strength index period 14 is pointing down below 40 levels to indicate a sell signal.

 FILUSD medium-term Trend: Bearish

FILUSD is bearish in the 4-hour chart. The bears could not withstand resistance level of $89. The price pulled back towards the support level of $60. At the moment, the bears have pushed the price to test the support level of $60. There is possibility for the bears to continue ruling the market.

FILUSD 4-hour chart, September 25

The coin is trading below the 9 periods EMA and 21 periods EMA which indicates that sellers’ movement is in progress. The relative strength index period 14 is at 20 levels and the signal lines pointing down to indicate sell signal.



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