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FILUSDT

FIL Critical Resistance for Long termNot the most usual way to draw a channel , yet the full picture shows a descending pattern. August Dildo Weekly candle has already broken above that channel! which I see as a bullish sign! let's watch Price action If we fail to break out , well everything on the chart ! DYOR , Just a Noob ! It is fair to mention that Fil is a super solid project , with great team! Not necessarily in terms of marketing! But fundamentals are strong. Filecoin aims to store data in a decentralized manner. Unlike cloud storage companies like Amazon Web Services or Cloudflare, which are prone to the problems of centralization, Filecoin leverages its decentralized nature to protect the integrity of a data’s location, making it easily retrievable and hard to censor. Decentralized storage systems like Filecoin allow people to be their own custodians of their data, as well as makes the web more accessible to people worldwide. Since participating in the Filecoin network by mining and storing is directly related to winning more block rewards, Filecoin incentives participants to act honestly and store as much data as possible
by anoweir
Filecoin (FIL) Possible Short Squeeze Incoming....25-90% UpsideFilecoin looks set for a massive bounce for the following reasons: 1.) Recent overly exaggerated downside move due to China FUD, and usually this sort of fundamental FUD is followed by strong bounce. 2.) Upcoming Filecoin Launchpad Demo Day around the corner on 9/28 could be the fundamental boost needed to help Filecoin recover sentiment. 3.) Filecoin has been one of the most sold off coins the past 6M, 1M, and 1W (-65%, -32%, and -25% respectively) 4.) FILUSDSHORTS approaching recent highs, due for short covering / thereby increasing buy pressure. Here I present 3 fractals which are based on the recoveries from similar capitulations in the past.
Long
by janor123
5
FIL/USD - To buy or not to buy, that is the question!FIL is quickly approaching a key technical level at $57. This would provide a juice entry for anyone that wants to get some FIL long term. However... there is a problem. On this weekly timeframe, we can see that FIL is in a MASSIVE descending channel... if this bearish trend continues, there is a WHOLE lot of room to fall until... $30! The indicators seem to say that we have more bearish price action before any reversal, however this descending channel could also be interpreted as a bullish flag... massive one that is. For that to confirm, we need to break resistance and that is very far away right now. What we need to ask is if price will fall or not to $30. The test will come at the $57 support line. If that breaks, then best to wait for a price under $40 before you bring the cash. Bias is bearish right now, particularly on short/medium term. Like and follow if you liked this idea!
Short
by DU09
There're 2 possible scenarios for FILFirst of all, I have to point out that according to Elliot, we need another correction. In terms of time, we can expect the correction to end near one of the Fibo time levels, so it is likely that another correction is underway as in the previous photo. According to the previous two points, there are two scenarios. The red trend line and the close supports of Fibonacci 0.618 and 0.5 are important points to check the reversal of the trend for buying position. If FIL can breaks PRZ (about 90 $) upward and stabilizes, there will be no correction. Always make your analysis before a trade It is not offer to trade. Good luck
by Mojtaba-Pakdaman