10.11.202311:22 Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of Filecoin Cryptocurrency, Friday November 11, 2023.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Even though on the daily chart the Filecoin cryptocurrency appears to be in a strengthening condition where this is confirmed by its price movement which moves above WMA 30 Shift 2, which is also has an upward slope, but the appearance of a deviation pattern between price movements and the RSI indicator gives a clue that in a few days ahead, Filecoin has the potential to retrace down to the level of the Bullish Fair Value Gap area. Importantly, as long as the downward retrace does not breaks below level 3,361, Filecoin has the potential to strengthen again until it breaks above level 4,644 and the area level 5,439-5,652 as the next target if momentum and volatility also support.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
© 2007-2024

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade