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FIL/USD Smashes the $6.000000 Resistance Level 

FIL/USD Smashes the $6.000000 Resistance Level 

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Filcoin Price Analysis September 3: FIL/USD Breaks $6,000,000 Resistance Level

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Filcoin Price Analysis September 3: FIL/USD Breaks $6,000,000 Resistance Level

After the FIL/USD decline between August 18 and 19, the price had been in a nearly week-long price consolidation below the $7.000000 price resistance level. Similar market price behavior occurred again on the 27th, bringing the price below the $6,000,000 resistance level. Today’s market is showing strong upside as buying pressure pushes the price balance to around $6.50000000. After seeing the inverted hammer candlestick pattern that formed on August 31, the trend is expected to reverse. But the selling pressure was still strong enough to slow the expected uptrend.

Filcoin market price statistics:

  • FIL/USD price now: $6.55200000
  • FIL/USD market cap: $1,801,204,864
  • FIL/USD Revolving Supply: 275,083,453.00
  • FIL/USD total supply: 275,083,453
  • FIL/USD Coin Market Rank: #32

Key levels

  • Resistance: $6.73187114 $7.00000000 $7.50148356
  • Support: $5.64009540, $5.30003410, $5.04946261

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Filcoin Market Price Analysis: Indicators Perspective

Looking at the Stochastic Relative Strength Index on August 28, the new trend would have been noticed earlier. And also a new trend would have been found if it had been followed in a shorter time frame. One of the factors that contributed to the rise in prices is that the price has fluctuated in the oversold area for about two weeks due to strong bearish market momentum. That is, strong buying pressure combined with a normal price correction from an oversold area caused the price to rise as the selling pressure weakened.

Filcoin Price Analysis September 3: FIL/USD Breaks $6,000,000 Resistance Level

Filcoin Analysis: FIL/USD 4 Hour Chart View

During the first three sessions of today’s market, the bulls take control of the market. Bears are showing signs that they are not strong enough to gain ground in the market. The Stochastic RSI on this time frame also shows that the price is in overbought territory. However, strong demand pressure may keep the price in the overbought area for some time. One of the most important things about this market is that the selling pressure is not as strong as it used to be. And from this it is easy to conclude that the upward trend can continue.

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