empty
09.08.2024 04:51 AM
Technical Analysis of Intraday Price Movement of Filecoin Cryptocurrency, Friday August 09, 2024.

This image is no longer relevant

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.

(Disclaimer)

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Crypto market cheers tolerance of SEC

Just a day after Gary Gensler officially stepped down as Chair of the US Securities and Exchange Commission (SEC), the federal agency's approach to cryptocurrencies is already undergoing dramatic changes

Jakub Novak 10:02 2025-01-22 UTC+2

Analysis of BTC/USD - January 22: Gary Gensler's Resignation Delights the Market

The wave structure of BTC/USD on the 4-hour chart is quite clear. After a lengthy and complex corrective structure (a-b-c-d-e) that developed from March 14 to August

Chin Zhao 07:50 2025-01-22 UTC+2

BTC/USD: Silence Isn't Always Golden

Bitcoin became a casualty of heightened expectations fueled by numerous insider reports from U.S. media about the "immediate" easing of cryptocurrency regulations. The market had been building tension for months

Irina Manzenko 23:36 2025-01-21 UTC+2

Trading Recommendations for the Cryptocurrency Market on January 21st (U.S. Session)

Bitcoin and Ethereum returned to a gradual upward trend during the first half of the day. Breakouts of indicated resistance levels supporting the bullish trend enabled significant upward movement

Miroslaw Bawulski 15:00 2025-01-21 UTC+2

Cryptocurrencies Not Mentioned in Trump's Inaugural Speech

After Donald Trump's inauguration as the 47th President of the United States on January 20, the cryptocurrency market experienced significant fluctuations. Despite the anticipated crypto-related initiatives that were part

Irina Yanina 14:53 2025-01-21 UTC+2

Recommendations for crypto market on January 21

Bitcoin and Ethereum both saw declines following Donald Trump's inauguration. Before the new US president's address, Bitcoin had reached an all-time high near $110,000, but Ethereum was far less fortunate

Miroslaw Bawulski 10:03 2025-01-21 UTC+2

Trump evades cryptocurrencies in his inaugural speech

The cryptocurrency market experienced a notable correction following Donald Trump's inauguration yesterday. Whether the new president intentionally avoided mentioning blockchain technologies in his inaugural address is an intriguing question. Nevertheless

Jakub Novak 09:31 2025-01-21 UTC+2

Analysis of BTC/USD: January 21, 2025. Bitcoin Crashed Right After the Inauguration

The 4-hour wave structure for BTC/USD is clear. Following a long and complex corrective structure a-b-c-d-e, which developed between March 14 and August 5, a new impulsive wave began

Chin Zhao 08:25 2025-01-21 UTC+2

Cryptocurrency Trading Recommendations for January 20th

Today, Bitcoin reached a new all-time high, nearing the $110,000 level. Ethereum is also trading in positive territory, though its gains are more modest. Recent data indicates weekly inflows into

Jakub Novak 15:00 2025-01-20 UTC+2

BTC/USD: Defying Records — Bitcoin Hits a New All-Time High Ahead of Trump's Inauguration

After a brief pullback, Bitcoin has reached a new all-time high. The sharp surge in BTC is primarily attributed to the "Trump factor," as Donald Trump assumes office

Irina Manzenko 14:55 2025-01-20 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.