FIL/USDT Trading Scenario
From the beginning of November and throughout the month, FIL, driven by the overall positive market sentiment, demonstrated confident growth from $3.125 to $8.322, an increase of over 158%. This movement was accompanied by a rise in trading volumes.
Subsequently, a correction occurred, triggered by heightened volatility amid anticipation of the new U.S. president's inauguration, their statements, and the Federal Reserve's reaction to these events. As a result, the asset's price dropped to a mirror level that previously acted as resistance but now serves as support.
From a volume profile perspective, this level is confirmed by market participants' interest. In the near term, moderate volatility within this range can be expected, followed by a potential price reversal, a return to the local high, and its possible renewal.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.