09.08.202404:51 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Filecoin Cryptocurrency, Friday August 09, 2024.

On the 4-hour chart, the Filecoin Cryptocurrency appears to be correcting upwards where the level of 4,035 which is the Breaker Block that acts as the closest Resistance will be the target that will be tested to be broken upwards if it turns out that this level is successfully broken upwards then Filecoin has the potential to continue its strengthening to the level of 4,635 as its main target and if the momentum and volatility support then the level of 4,992 will be the next target to be aimed at, just be careful because of the appearance of deviations between the price movement of Filecoin which forms Higher-High while on the contrary the Stochastic Oscillator indicator actually forms a Double Top pattern then there is a possibility that in the near future Filecoin will also weaken down to test the Bullish Fair Value Gap area level which will act as a Support level if this level can withstand the rate of correction of the weakening then Filecoin will strengthen again according to the scenario that has been described previously but if the opposite happens especially if Filecoin breaks below 3,348 then all the strengthening correction scenarios that have been described previously will become invalid and canceled by themselves.

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