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24.03.2023 08:01 AM
Technical Analysis of Intraday Price Movement of Filecoin Cryptocurrency, Friday March 24. 2023.

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If we look at the 4 hour chart of Filecoin Cryptocurrency then there will be a few interesting things as follow:

1. Price movement above its Moving Average.

2. The appearance of Descending Broadening Wedge pattern.

3. The appearance of the deviation between price movement with Stochastic Oscilator Indicator.

Based on these facts Filecoin has the opportunity to appreciate upwards to the level of 6,189 as its first target and if the momentum and volatility support it, it is not impossible that it will continue strengthening up to the level of 6,505 as the next target, provided that during its journey to the target levels that have been As described above, there was no downward correction that exceeded the level of 4,963 because if this level is successfully broken down, the probability for all the rally scenarios described previously will be invalid and automatically cancelled.

(Disclaimer)

Arief Makmur,
Analytical expert of InstaForex
© 2007-2024
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