FILUSDT Chart by TradingView
| Performance after Monday 01-Aug | |||
| Period | Pct | Chg | Momentum |
| Monday | -10.03% | -0.98 |  |
| Week to-date | -12.79% | -1.25 |  |
| July | 62.78% | 3.39 | |
FIL Analysis
Filecoin (FILUSDT) price for the week to-date dropped -12.79% or -1.25 lower to 8.52. At time of writing into Tuesday’s trading session, Filecoin has decreased by -20.52% over the past 24 hours. For the record, FILUSDT is -96.40% below all-time high of 236.84. On Monday, FIL dropped -10.03% to 8.79.
On the daily timeframe, price is above 9-Day EMA and Stochastic oscillator is falling, our analysis is that bullish momentum could be fading.
End of July, FIL is up by 62.78% or 3.39 higher.
What can we expect from Filecoin today?
Looking ahead for the day, immediate upside resistance level at 10.67 (R1) while on the downside, we are looking at daily low of 8.34 as an important support. Break below this level could weaken the current bullish momentum.
Filecoin need to break on either side to indicate a short-term bias. A close below 8.34 would indicate selling pressure.
For the week to-date, take note that Filecoin is falling as the pair posted lower, down by -12.79%. Prior performance for the week ending 2022-07-31 was 73.23%.
Key levels to watch out:
| R3 | 13.72 |
| R2 | 12.56 |
| R1 | 10.67 |
| Daily Pivot | 9.51 |
| S1 | 7.62 |
| S2 | 6.46 |
| S3 | 4.57 |
Last updated: 02:50 am UTC, 02-Aug 2022
About Filecoin
The Filecoin network achieves staggering economies of scale by allowing anyone worldwide to participate as storage providers. It also makes storage resemble a commodity or utility by decoupling hard-drive space from additional services. On this robust global market the price of storage will be driven by supply and demand, not corporate pricing departments, and miners will compete on factors like reputation for reliability as well as price.
