Filecoin (FIL) Technical Analysis: Downward Trend Unchanged, Investment Requires Caution
From a technical analysis perspective, Filecoin (FIL) has been in a clear downward channel for the long term.
The daily chart shows that the FIL price continues to be constrained by a small downward channel, exhibiting a one-sided decline without any clear trend reversal signals.
Currently, market trading sentiment is sluggish, and the price trend is weak, lacking momentum support for a breakout in the short term.
Based on the current market environment, whether for spot investment or contract trading, FIL is not a recommended asset for allocation.
It is worth noting that the current price of FIL is approaching the historical bottom range, but there is significant pressure from trapped positions above, forming a heavy price resistance zone.
Investors are advised to maintain a wait-and-see attitude and only participate in short-term trading operations when the overall cryptocurrency market shows significant signs of recovery and FIL exhibits clear signals of stopping the decline and stabilizing; otherwise, it is not recommended to intervene lightly.
