Filecoin Cryptocurrency Forecast

Filecoin cryptocurrency upgraded to Hold/Accumulate.
(Updated on Apr 25, 2024)

FILUSD Signals & Forecast

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Filecoin cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $6.34 and $7.92. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Saturday, March 09, 2024, and so far it has fallen -44.73%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Filecoin cryptocurrency

Filecoin finds support from accumulated volume at $5.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.507 between high and low, or 8.41%. For the last week, the cryptocurrency has had daily average volatility of 7.46%.

Filecoin is oversold on RSI14 (18). Some cryptocurrencies may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $5.71 (-6.14%) (This cryptocurrency has very high daily movements and this gives very high risk. Low RSI14 is 18 which reduces the risk some. There is a sell signal from a pivot top found 47 days ago.)

Trading Expectations (FILUSD) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Filecoin to open at $6.22, and during the day (based on 14 day Average True Range), to move between $5.34 and $6.83, which gives a possible trading interval of +/-$0.747 (+/-12.28%) up or down from last closing price. If Filecoin takes out the full calculated possible swing range there will be an estimated 24.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $5.98 (1.68%) than the resistance at $7.25 (19.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Filecoin cryptocurrency A Buy?

Filecoin holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.781 Hold/Accumulate Upgraded

Predicted Opening Price for Filecoin of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.