Lorenzo Stroe
Independent Analyst
- Filecoin price had a severe 42% drop since the beginning of April.
- The digital asset aims for a short-term rebound after the TD Sequential indicator presented various buy signals.
- FIL could still drop further down if buyers can’t hold a crucial support level.
Filecoin has been trading inside a significant downtrend since the beginning of April after establishing a new all-time high at $238. The cryptocurrency market suffered a notable correction in the past 24 hours which hasn’t helped FIL.
Filecoin price aims for rebound towards $170
On the 4-hour chart, the TD Sequential indicator has just presented a buy signal and a red ‘8’ candlestick on the 9-hour chart which is often followed by a buy signal as well. On the 9-hour chart, Filecoin has defended the 100-SMA at $140.
FIL/USD Buy Signals
A rebound from this key support level has the potential to drive Filecoin towards the 26-EMA established at $167 on both charts. The next price target is located at $175, which is the 50-SMA on the 4-hour chart.
FIL/USD 9-hour chart
To invalidate the buy signals, bears must push Filecoin below the last low of $136.2. A breakdown from this point will ultimately drive Filecoin price down to $97.7 and at least towards $120.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Whale grabs 16,000 ETH as Ethereum Foundation vows support for L1, RWA and stablecoins
Ethereum Foundation's Co-Executive Director Tomasz K. Stańczak highlights simplified roadmap scaling blobs and improving L1 performance. Ethereum whale scoops 16,000 ETH, emphasizing growing interest in the token as the price recovers.
Bitcoin retests key resistance at $85K, breakout to $90K or rejection to $78K?
Bitcoin (BTC) price edges higher and approaches its key resistance at $85,000 on Monday, with a breakout indicating a bullish trend ahead. Metaplanet announced Monday that it purchased an additional 319 BTC, bringing its total holdings to 4,525 BTC.
XRP price teases breakout, bulls defend $2 support
Ripple (XRP) price grinds higher and trades at $2.15 during the early European session on Monday. The token sustained a bullish outlook throughout the weekend supported by bullish sentiment from the 90-day tariff suspension in the United States.
Senator Elizabeth Warren launches fresh offensive on crypto
Senators Elizabeth Warren, Mazie K. Hirono, and Dick Durbin want the DoJ’s decision to terminate crypto investigations reversed. The Senators raise concerns over the DoJ’s shift in priorities, terming it a “grave mistake.”
Bitcoin Weekly Forecast: Market uncertainty lingers, Trump’s 90-day tariff pause sparks modest recovery
Bitcoin (BTC) price extends recovery to around $82,500 on Friday after dumping to a new year-to-date low of $74,508 to start the week. Market uncertainty remains high, leading to a massive shakeout, with total liquidations hitting $2.18 billion across crypto markets.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.