FIL Technical Analysis: Dangerous For Investments

A promising and highly volatile project turned from success and positivity and in fact became a harbinger of the apocalypse. If most cryptocurrencies began correction in November 2022 – the FIL cryptocurrency began a protracted fall wave in September 2021. The final hope of investors to continue the FIL price growth disappeared after losing the mark of $33. The situation is that it was expected to at least rebound from this mark, the $33 mark had historical value. In February 2021, buyers managed to take control of this mark. And only after its retest did the global wave of growth begin. https://www.tradingview.com/x/oZDCmXoX/ The probability that there will be a large number of people willing to buy FIL near the mark was high. However, in the weekly timeframe, we see a complete lack of interest. The coin price only slowed down a bit near this range. Currently, the FIL price is below the next $22 liquidity zone. Sellers broke through and took control of this mark. If buyers are hit after the current consolidation to regain control of $22 – we can expect the beginning of a new growth wave. However, the final signal for the bull run in the FIL market will be breaking the global trend line of buyers in the range of $33. Technical Analysis Of FIL On The Daily Timeframe https://www.tradingview.com/x/AtJuMrI7/ Analyzing the FIL price movement on the daily timeframe, we can note the weakness of buyers. First, the local market reversal of FIL began at a fairly low volume. It seemed that sellers just decided to relax. The new growth wave is also taking place at low volumes. And all this takes place at extremely good prices. Therefore, we cannot announce the end of the fall of the FIL market. To locally continue to increase the FIL price, buyers need to keep the $21 mark during the correction. There is their trend line, keeping which buyers will be able to count on a test mark of $33. At best, the FIL market will begin to consolidate in the range of $ 22-33 from which buyers can expect a powerful shot with the first target of $50. However, so far these are positive dreams without confirmed facts. FILBTC Price Signals The Prospect Of Falling By 20% https://www.tradingview.com/x/XnQjp2yB/ There is no positive news in the local period of time on the FILBTC chart. The price continues to move to its main liquidity zone 0.00038. This is the last critical point before the historical low update. FILBTC price movement to this range is on average volumes and so far without much price inhibition. Therefore, FIL investors should be prepared for another wave of about a 20% decline. Given how much Bitcoin will fall the FIL price to USDT pair may fall by more than 20%.

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