FIL Alert: Bottom Fishing Opportunity After Plunge? Key Support Level Battle is About to Erupt!
Current FIL price $2.42, 24-hour drop 0.62%, trading volume shrinks 33%, RSI neutral but below MA200 (deviation -4.46%), selling pressure dominates. It is recommended for aggressive traders to take small positions to bet on a rebound, entry at $2.40, target $2.45, stop loss at $2.38 (profit-loss ratio 2.5). Risk: Insufficient liquidity and continuous capital outflow may trigger further declines; if it drops below $2.38, stop loss and observe.
Technical Analysis
1. Price Status: Bollinger Band position 44.78% (below the middle line), indicating weakness; MA200 $2.533 (current price below, deviation -4.46%), bear market signal; holding cost $2.526 (current price below, deviation -4.2%), most holders are at a loss.
2. Market Strength: Volume ratio 0.67 (below average), shrinking adjustment with no major players involved; open interest down 74.48% in 24h, clear capital outflow; buy-sell pressure ratio 1.47 (nominal buying advantage), but near price area sell orders exceed $52k, shorts dominate. Support levels at $2.39 (Bollinger Band lower line) and $2.3 (dense buy orders), resistance levels at $2.45 (Bollinger Band upper line) and $3.0 (sell-side liquidity area $202k). Liquidity gap: weak buy orders in the $2.38-$2.40 range, prone to flash crashes.
Market Cycle Analysis
In the mid-stage of a bear market, price is below the cost line, continuous capital outflow (30-day net outflow $51.32m), no clear reversal signal.
Trading Strategy
• Entry Point: $2.40 (aggressive, support from Bollinger Band lower line)
• Stop Loss Point: $2.38 (break below the lower line confirms weakness)
• Target Level: $2.45 (upper line resistance)
• Profit-Loss Ratio: 2.5
Risk Warning: Market risks include liquidity traps (near price area sell orders $313k) and negative funding rates; conditions for strategy failure are price dropping below $2.38 or macroeconomic negatives; position size ≤2%, avoid low liquidity periods in Asian trading hours.
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