The FIL cryptocurrency is desperately trying to find the bottom. This search has been going on for not so long ago – from the trading week of 9 May. It was during this weekly candle that sellers managed to update the historical low. The FIL cryptocurrency began to form its downward trend in April 2021 at the earliest. However, the most aggressive fall wave occurred in April-June 2022. During this period, the FIL market had no weekly candles to close above the opening price. The trading volumes were as high as possible. The last local downward impulse was caused by a loss of control over the $17.5 range. Buyers kept this mark from January 2022. After losing control of $17.5, the FIL price fell by 71%. Source: https://www.tradingview.com/x/UPnCDQqw/ Given the lack of a global bottom in this cryptocurrency, we do not recommend investing in FIL until buyers take control of at least $7.6. That is, until we see a rebound of the FIL price to about $10 and keep buyers at $7.6, we can not advise buying this cryptocurrency. Under the optimistic scenario and the retention of $7.6 by buyers, we will expect FIL to continue to grow with the next target of $13.7. This mark shows the global trend line of sellers. Given the nature of the fall in FIL prices, it is still unbelievable that buyers will be able to break the upward trend line for the first time. FIL Technical Analysis On The Daily Timeframe Source: https://www.tradingview.com/x/60sQ...
