FX.co ★ Technical Analysis of Intraday Price Movement of Filecoin Cryptocurrency, Friday May 31 2024.

If we look at the 4-hour chart of the Filecoin cryptocurrency, it can be seen that the 50 EMA is below the 200 EMA (Death Cross), followed by its price movement which is below the two MAs and the appearance of the Double Top pattern, indicating that in the near future Filecoin has the potential to weaken down to level 5,625, if this level is successfully broken below, Filecoin will continue its weakening to level 5,514 as the main target and if the momentum and volatility are supportive then the level area 5,371-5,214 will be the next target to be aimed at, but if it is on its way to these levels suddenly there is a strengthening correction, especially if the strengthening manages to broke above level 6,036 then all the weakening scenarios that have been described previously will become invalid and will automatically cancel itself.

(Dsiclaimer)