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FILECOIN AND BLOKTOPIA- ALTCOIN CHART ANALYSIS

 


FileCoin has rallied sharply over the past few days after weeks of downside here. Most recently we failed at the monthly resistance P, 200-EMA and 200-SMA (last 200 moving average candles/purple).

We are currently trading at around USD 20.69, which is significantly lower than a few days ago. At the monthly resistance P we were strongly rejected and did not get any more buyers into the market. 

The green support box from the former range, which was resistance before, is currently giving us support and must hold, otherwise we are threatened with significantly lower prices again.

We see a similar picture on the daily chart. After the support in the $22-$23 area showed no reaction at all, we saw a massive sell-off.

However, the trading volume is still very low, but this can  not mean any strength on the part of buyers either. One possibility would be that we first consolidate something and stick to this level. 

If this support breaks, we could dip back into the $18.00 area and form a bullish chart pattern from here, which would suggest a definitive reversal.

Bloktopia (BLOK) is at an important key level. We've lost over 80% here since our all-time high. We are now at the end of the green support zone.

We are currently trading at around USD 0.022 and thus below the 4H-EMA ribbons, which we unfortunately could not hold. The RSI is in an oversold territory, and it could give us a trend reversal, at least in the short term.

At BLOK, it becomes important that we get trade volume into the market once and then impulsively break out to the upside. Furthermore, it is important to take out the monthly resistance P at c. USD 0.037, as we would then make a higher high, which would suggest a bottoming.

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