Filecoin (FIL) In Bearish Clutch, But May Easily Escape And Recover

It isn’t easy to break free from a bear’s clutch, but Filecoin (FIL) has its ways. FIL price performing well despite the bearish grip Price retreats by 8.06% RSI, CMF showing selling edge and bearish behavior By putting a stop to the heightened selling activity, FIL was able to bounce back from the $5-mark. With that, the coin was able to make a successful comeback while still somewhat pinned down by the bears. With FIL going through the motion of its 20/50/200 EMA, it shows a somewhat consistently slow trend or movement that could happen in the next few sessions. Now, if FIL won’t manage to hang on to the $5 baseline, the altcoin may likely be pulled further down. According to CoinMarketCap, FIL price is trading at $5.70 or showing an 8.06% decline as of this writing. Related Reading: Want to Hodl USDC? Check These Indicators First To Ease Doubt FIL Bulls Keen To Guard The Baseline Ever since FIL has capsized to its all-time low registered on June 18, the bulls are keen to guard the $5 baseline. A quick breach that went above $7.35 was definitely a come-on, especially with the bullish momentum but it was good while it lasted. Chart: TradingView.com On the flip side, the plunge that shoots under the 20 and 50 EMA has stirred a bullish invalidation seeing that the altcoin seems to facing some difficulty in breaching the five-week resistance zone. A bearish crossover of the above EMAs shows off the selling propensity of Filecoin...