Filecoin Fights to Stabilize Above $40, While IOTA Gains 7% -Price Analysis

Filecoin Fights to Stabilize Above $40, While IOTA Gains 7% -Price Analysis


Consolidation in the crypto spectrum after the volatility phase is a usual case. Most alternative coins traded sideways today as others struggled with muted price actions. Moreover, some digital tokens decoupled from the broad markets sentiments, trading green.

The technical crypto picture presents mixed signals. For instance, IOTA saw increases in its respective chart while Filecoin witnessed lateral price movements within the past few days. Let us check levels to watch as far as these altcoins are concerned.

IOTA/USD 4Hr Timeframe

IOTA retained bullishness for the last week. That came after the alternative token saw price plunges as this month started. Remember, the currency recorded a 40% increase in December’s first week. Nevertheless, IOTA recovered from the crash it experienced, trading near $1.45 at this publication.

The past 24hrs had the alt securing a 7% upturn. Moreover, IOTA can register another leg up to $1.51 as technicals suggest a bullish outlook for the coin. However, $1.51 is also the altcoin’s closest price ceiling. On the other part, losing momentum can see the MIOTA trading around the $1.40 level. Failure to stabilize above this area might have the crypto sliding to $1.23.

The RSI supported bullish action and displayed an optimistic buying momentum in the marketplace. Awesome Oscillator also printed green, corresponding with other price indicators. Finally, the DMI showed bulls’ preference, the +DI line standing beyond the –DI.

FIL/USD 4Hr Timeframe

Filecoin (FIL) had flashed minor actions on its price charts within the past few weeks, and it started struggling to rise beyond the price level of $41.98. The area has served as a massive price ceiling, and failure to crack it might see FIL dipping towards $34.97.

Filecoin gained 2% within the past 24hrs. Nevertheless, bears can erase the slight gain any time from now. As the alt hasn’t shown volatility over the past few weeks, it may be the time for investors to cash out. Nevertheless, FIL brought some ROI in the last seven days.

While writing this article, Filecoin technicals show bears favoritism. The Relative Strength Index (RSI) flashed sellers’ dominance. The DMI also confirmed selling pressure as the Aroon indicator displays a bearish attitude.



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