File analysis on daily time frame with supp & resis

Feb 18, 2023

Based on the daily timeframe analysis of Filecoin (FIL), we can observe that the cryptocurrency is currently facing resistance at two key levels - 7.671 and 9.746. These levels may pose a challenge for buyers as there is a possibility that the price may encounter selling pressure and struggle to move past these levels. On the other hand, there is a support level at 5.976, which suggests that buyers may step in to push the price higher if it falls to that level. Therefore, traders and investors should keep a close eye on the price action near these levels, as they may provide useful insights for making trading decisions. However, it is important to remember that technical analysis is not a guarantee of future performance and should be used in conjunction with other analytical tools when making investment decisions.