As per technical analysis, Filecoin is a blockchain technology-based open-source protocol for digital payments, data retrieval, and electronic storage. It is developed on an InterPlanetary File System. It enables users to rent unused data storage space. FIL is the prime governance token of this network. Past Performance On March 26, 2021, FIL started trading at $90.98. As of April 1, 2021, FIL closed at $185.62. Thus, in the past week, the FIL price has surged by roughly 104.02. In the last 24 hours, FIL is trading between $180-$238.20. https://ift.tt/3rK91ya Days-Ahead and Tomorrow Currently, FIL is trading at $190.83. The price has increased from the opening price of $185.57. Thus, the market looks bullish. The A/D indicator is rising. This implies that whale accumulations are higher than whale distributions. Thus, we can expect the price to rise further. The MACD and signal lines have just turned positive. However, they are still very close to the zero line. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the bearish market momentum hasn’t completely reversed yet. Hence, we can expect a price pullback. Presently, the RSI indicator is at 47%. It faced a bullish swing rejection at 42% and rallied to the current level. Thus, buying pressures are gradually increasing. Hence, we can expect the price to go up further. FIL Technical Analysis As per technical analysis, the price is below the Fibonacci pivot point of $201.27. As most of the oscillators have given positive signals, we can expect the price to surpass the pivot point in some time. By day end, if the price breaks out of the first and second resistance level of $223.51 and $237.49 respectively, we can be assured that the bullish trend is strong. The price is moving closer to the 23.6% FIB retracement level of $193.73 and break out of it soon. By day close, if the price manages to break out of the 76.4% FIB retracement level of $224.46, then the price uptrend is strong. The bull-run will continue tomorrow as well.
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