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BTC price continues to experience difficult hours on the last trading day. The price hovers around the 66,660-dollar region. After countless explanations about the decline, there is no need for more repetition, and as volumes weaken over the weekend, the market is likely to stagnate. On the other hand, since holiday days have generally been calm in recent weeks, a possible volatility surprise will not be very surprising.
Filecoin (FIL)
FIL Coin volume has significantly weakened and has fallen well below the 900 million dollars seen on June 8. The FIL Coin trading volume, which has retreated from the peak to the 135 million dollar limit, is negatively evaluated in a rising market. However, if the volume weakens while altcoins weaken along with the BTC price, that is, while the price erodes, it indicates that the bears are weakening. The second situation seems to be the case for FIL Coin.
Signals sent by Tom DeMark (TD) Sequential indicate that the downtrend is weakening and the price may move in the opposite direction. When the tool shown to detect price reversals is considered along with the volume, it is promising.
The Money Flow Index (MFI) had fallen below the 20 level on June 12. This indicates overselling and shows that a significant amount of liquidity has exited. However, the MFI is climbing from the oversold region, meaning that buying pressure is starting to form again.
FIL Coin Price Prediction
The Fibonacci Indicator can help us with current supports and resistances for FIL Coin. The scenario supported by the Awesome Oscillator (AO) currently shows that there could be a test at the resistance level of 6.07 dollars. AO, which measures momentum, confirms the impressions in the first section and tells us that the selling momentum is weakening.
The nearest key region on the FIL Coin front is 5.77 dollars. If this resistance cannot be broken, the possibility of an upward scenario will be dashed. Subsequently, it is likely that the FIL Coin price will retreat to the support at 5.31 dollars. For now, the only major negativity is in the BTC price; if it does not fall below 66,250 dollars and start a sharp decline, FIL Coin may experience its own upward scenario.
Of course, the unpredictability of cryptocurrencies should never be underestimated. Investors should be open to surprises.
