$FIL /USDC Special Update: Bears in Control? 📉🐻
Filecoin ($FIL ) is currently facing some heavy weather. The price is trading at $0.911, down by -2.36%. Looking at the 4H chart, the price is struggling to find a solid floor as it remains trapped under key resistance levels.
📍 Watch for Entry: $0.880 – $0.910 (Wait for a bounce)
🎯 Target 1: $0.947 (Retesting MA25)
🎯 Target 2: $1.050
🎯 Target 3: $1.090 (Major Resistance)
🛑 Stop Loss: $0.770
🔍 The Simple Reality
The Struggle: FIL is currently trading below all three major Moving Averages (MA7, MA25, and MA99). This usually means the trend is bearish in the short term.
Support Floor: The recent low of $0.777 is the "line in the sand." If the price stays above this, there is still hope for a slow recovery.
Rejection Zone: Every time the price tries to go up, it gets rejected near $0.946 (MA25). A clean 4H candle close above this level is what we need for a bullish reversal.
Are you HODLing FIL or looking for a short opportunity? Let's hear your strategy in the comments! 👇💬
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