Filecoin (FIL) & Chainlink (LINK) Echo Historical Bullish Signals – Are They Approaching the Final Accumulation Stage Before Liftoff?
Whispers in the crypto community suggest that Filecoin and Chainlink might be gearing up for a significant rise. These coins have started echoing bullish signs seen in the past. Could they be entering the final phase of accumulation before a potential surge? Dive into the analysis to uncover which tokens might skyrocket soon.
Filecoin's Recent Downturn and Shifting Support Levels
Filecoin lost around 18% in the last month and 35% over the past six months. A notable weekly drop of nearly 20% emphasized a continued decline in market strength. Price movements indicate a clear downtrend, leading to growing caution among traders. Support levels have weakened, contributing to a negative sentiment in the market.
The coin currently trades between $2.29 and $3.44, with support at $1.79 and resistance around $4.10. Bears dominate the market, as indicators reflect negative momentum alongside an oversold RSI. There is no strong trend at the moment, prompting traders to consider buying near support while employing tight stops and monitoring for potential breakouts above resistance.
Chainlink's Recent Volatility Sets the Stage for a Potential Rebound
Chainlink traded in a band between $11.04 and $16.82 while suffering a 20.87% drop over the past month and barely managing a 3.68% gain over the last six months. Weekly losses reached 22.09%, and metrics like a -2.471 Momentum and an RSI at 31.011 reveal ongoing bearish pressure. Price movements have demonstrated negative momentum, even as the token shows slight resilience over longer periods, reflecting a market that’s been testing its limits amid frequent volatility.
Trading currently focuses on immediate support at $8.57 and resistance at $20.14, with a second resistance at $25.92 and backup support at $2.79. Bears dominate the market, with no strong trend evident. Short-term strategies may involve buying near support for a potential bounce or waiting for a breakout above $20.14 before making any commitments.
Conclusion
Both FIL and LINK show signs similar to past bullish trends. This suggests a potential for growth soon. Historical patterns hint that these assets may be nearing their final buying phase before significant price rises. Investors monitoring these signals could see strong returns if the trends hold true.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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