Filecoin Price Prediction for Today, December 16 – FIL Technical Analysis

The Filecoin price prediction is heading toward the upper boundary of the channel as the price touches the daily high at $5.43.

Filecoin Prediction Statistics Data:

• Filecoin price now – $5.43
• Filecoin market cap – $2.5 billion
• Filecoin circulating supply – 481.2 million
• Filecoin total supply – 1.9 billion
• Filecoin Coinmarketcap ranking – #34

FIL/USD Market

Key Levels:

Resistance levels: $6.5, $7.0, $7.5

Support levels: $4.0, $3.5, $3.0

FIL/USD is trading above the 9-day and 21-day moving averages as the coin moves near the upper boundary of the channel. At the time of writing, Filecoin is changing hands at $5.43, having gained over 13.16% since the beginning of the European session. However, with latest the recovery, the coin is likely to cross above the upper boundary of the channel and move into the positive zone.

Filecoin Price Prediction: Would FIL Cross Above $5.5?

The Filecoin price is currently forming a bullish movement as the bulls push the price toward the channel. If the bulls begin the upward trend, FIL/USD may likely cross above the upper boundary of the channel which could hit the resistance levels of $6.5, $7.0, and $7.5. Meanwhile, if the bears step back into the market, any strong selling pressure may drag the price toward the lower boundary of the channel.

However, if the Filecoin price slides below the moving averages, the bears could bring the price to the supports of $4.0, $3.5, and $3.0. Looking at the chart, the 9-day moving average is hovering above the 21-day moving average, suggesting a possible bullish movement within the channel.

FIL/BTC Heads to the North

Against Bitcoin, Filecoin (FIL) trades bullishly as the coin follows an uptrend above the 9-day and 21-day moving averages. However, if the bulls increase the buying pressure, the market price may cross above the upper boundary of the channel.

Nevertheless, the 9-day moving average is likely to cross above the 21-day moving average, once this comes to pass, the market price may continue with the upward trend which could hit the resistance level of 1400 SAT and above. On the contrary, a retest below the lower boundary of the channel could lower the price to the support level of 1000 SAT and below.

Alternatives to Filecoin

At the moment, the Filecoin price is trading around $3.18 after adding 13.16% to its value on the day. Moreover, the strength of the coin is likely to open the door for a massive recovery movement targeting $6.0. Meanwhile, from a technical perspective, FIL/USD is capable of tackling the hurdles toward the upside if the bulls increase the pressure.

On that note, traders can invest in $BTCMTX for a unique cryptocurrency opportunity, contrasting it with Filecoin’s $2.5 billion market cap, which may limit its significance in the market because of its big market cap. However, with $BTCMTX exceeding $5.3 million in the presale stage and a smaller market cap, it presents substantial growth potential. Don’t miss the chance to be part of the innovative future of decentralized finance – invest in $BTCMTX now!