- FIL token price has fallen 60% inside the falling channel in the 4-hour pattern.
- The coin price is trading below all critical EMAs in the 4-hour timeframe.
- The FIL/BTC pair is trading at 0.001867 BTC, an intraday move of -0.70%.
The FIL token price fell more than 100 points after the coin price was rejected from the $165 level. The coin price is making lower lows, and fallout of the downside parallel channel is expected soon. The increased selling volume might help the bears in the fallout.
Trend momentum in the weekly timeframe is powerful as the coin continues to form bearish candles. Presently, the coin is trailing at $64.02 with an intraday loss of 10.38%, while volume dropped by -36.59%, standing at $1,310,339,542.52.
FIL token falling chanel fallout expected soon
FIL token price has been falling inside the parallel channel since the $165 level, and presently, it has resulted in almost 100 points. The increasing volume has made bears more powerful. As per the price action and pivot points, the coin price may find resistance near $88 and support at $20.
FIL token’s price is trading below all critical EMAs with the bearish crossover of 20(red) and 100(green) EMA with the possibility of 50 (yellow) and 100 (green) EMA. The
The relative strength indicator (slightly bullish) is trading near 28 and trailing just above the oversold zone.
The ADX indicates a gaining momentum as it is trading at 44, and the slope in ADX increases, implying a gain of momentum.
Conclusion: FIL coin price is trading lower with increasing trend momentum and selling volume; the bears are gaining more and more control of the trend. The coin price may fall even lower if the channel falls out.
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