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[Filecoin]
Although the both EMAs in Filecoin have not yet formed a Death Cross, but with the appearance of a Hidden Bearish Divergence on the RSI(14) indicator, which is also in the Neutral-Bearish level, suggests that there is potential for weakness to occur in Filecoin shortly.
Key Levels
1. Resistance. 2 : 1.652
2. Resistance. 1 : 1.595
3. Pivot : 1.553
4. Support. 1 : 1.496
5. Support. 2 : 1.454
Tactical Scenario:
Pressure Zone: If the price of Filecoin breaks down and closes below 1.496, it may test the level at 1.454.
Momentum Extension Bias: If 1.454 is broken, Filecoin could potentially weaken down to 1.397.
Invalidation Level / Bias Revision:
The downside bias is restrained if Filecoin strengthens and breaks out to close above 1,652.
Technical Summary:
EMA(50) : 1.561
EMA(200): 1.557
RSI(14) : 45.89 + Hidden Bearish Divergent
Economic News Release Agenda:
Tonight from the United States, the following economic data will be released:
US - Prelim UoM Consumer Sentiment - 22:00 WIB
US - Prelim UoM Inflation Expectations - 22:00 WIB
US - Personal Income m/m - 22:00 WIB
US - Personal Spending m/m - 22:00 WIB
US - Consumer Credit m/m - 03:00 WIB
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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