FILECOIN – ALTCOIN CHART ANALYSIS

Filecoin (FIL) is in a clear downtrend. The last few days we had two rapid sales, which have hardly been replenished so far. At the moment we seem to be able to stabilize a bit.

At the moment we are trading at around USD 13.60 and thus below our monthly support S1. Due to the strong sale on April 30th, 2022, we still have the opportunity to fill this candle.

So there is a clear risk that we can see a move down again. This candle goes to around $11.70. The volume is clearly falling again. There is caution for the next few hours.

On the daily chart we can clearly see the downtrend and sell-off. The above-mentioned Wick in particular catches the eye. This candle will sooner or later be filled.

The RSI is now in a significantly oversold territory, but with no bullish signs of divergence or anything else. So there is nothing to suggest a short-term trend reversal.

If we manage to fill the wick and get some stability into the market from here, that could be the bottom for now as long as bitcoin doesn't continue to crash. Since his ATH, FIL has already lost 95%.

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