Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
Filecoin has performed well in early December but the bulls have been forced to retreat.
Swing traders can wait for a move to or just beneath the range lows before bidding.
Filecoin [FIL] has not run linearly higher like many of its altcoin brethren. While it did post large gains in November and early December, the uptrend has been halted at a crucial higher timeframe resistance.
AMBCrypto’s technical analysis of FIL showed that the bullish momentum of the asset was weak and that a move downward was likely. A look at the estimated liquidation levels as well as the price action of the past few weeks illuminated where the bulls could make a stand.
The range coincides with an HTF resistance zone
Source: FIL/USDT on TradingView
The area from $4.61 to $5.71 represented a bearish breaker block on the one-week chart. The 12-hour chart abo
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