👀Huobi x CoinMarketCal👀A Coin To Keep An Eye On-Filecoin!
Filecoin is an open-source, public, cryptocurrency, and digital payment system intended to be a blockchain-based cooperative digital storage and data retrieval method. It is made by Protocol Labs and builds on top of the InterPlanetary File System, allowing users to rent unused hard drive space.
📅Events: Filecoin has added more trading pairs to improve liquidity on multiply exchanges from coinmarketcal.com
📈Analysis
Large players stepped into FIL under $21 on October 23rd, crushing late bears with a 94% upward move. However, this uptrend may have been short-lived as the price bled under the new range’s EQ near $30.84.
It seems likely that the price may continue to range with a higher-timeframe bearish slant. Equals highs under resistance at $32.40 suggest that at least a small stop run may be coming, giving bears an entry for further downside this week.
Potential targets include probable support just above the 79% retracement level near $25.367, with nimble players possibly catching a wick to the swing low near $23.82.
If the November monthly opens near $31.40 instead of flips into strong support, bears may want to consider turning at least short-term bullish. This move could target short stops up to resistance near $38.02, where the local bearish trend began.
👉 FIL Market👈
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