Filecoin FIL Coin Cryptocurrency Price News Today – Technical Analysis and Price Prediction 2024!

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Filecoin FIL Coin Cryptocurrency Price News Today – Technical Analysis and Price Prediction 2024!

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Hello and welcome to another update video about filecoin um filecoin hasn’t really moved much since the last update um still watching if the price could push a little higher there in circle wave c yeah um best I mean best count I can offer and and this might change okay

This might change the best count I can offer is here um a potential three-wave move up that’s forming in an a BC structure at the moment and you can see that from the June lows we have a five wve move up but I can of course not

Ignore what happened here so my leaning is towards an ABC structure and um in terms of potential targets I mean the seawave yeah in term the internal structure has done what it needs to do with we’ve got five waves and the fifth wave of the c-wave has basically reached

What it needs to reach the 1.618 extension and actually formed the slightly higher high than wave three it would still be preferable if we could see it rally a little higher first of all because it would be a clearer wave five it could possibly reach the top of

That channel here at um where is that round about $10 I think $10 would be a great Target for that fifth wave it would be a great Target um it would be the 200% extension and would be the ascending trend line the upper boundary line of the trend channel in addition to

That it’s often the case that if we are dealing with an ABC structure like this one that the seawave reaches the 100% extension level of wave a so there are always different levels or different ways of measuring targets I just showed you the targets for the internal

Structure of the seawave but we can also take a Target by measuring the length of the A wve and by comparing it to the length of wave C and that would point also towards round about $10.70 so again the 200% extension is around 1040 that one is at 1070 so

There’s good Fibonacci Confluence I think and that gives us a good potential Target at the moment there is also no evidence that wave five has topped let’s go to the 4H hour chart um so I would prefer it to go a little higher but it’s

Oh yeah before we go to the detail it’s obviously fighting here with this descending trend line yeah where we have two actually probably two to three touch points and um it’s fighting with that so A a slight break above it would be helpful to um yeah just to to finalize

This structure I mean technically speaking it doesn’t need that one more high I would say as soon as we break below this swing low here from the Thursday the 22nd of February that was here at 685 um by the way I just see that I think the price has moved up further

Since the last update which is basically in line with forecast because we wanted this wave five to complete right so if I see that correctly in the last update that move up here was still below the third wave top but it’s actually filled it out nicely filled it in nicely and

That’s sort of what we wanted cuz this was the time to enter in the orange support Zone that’s what these support zones are for that we offer we offer them as levels to watch for potential reversals if the scenarios are correct and if the wave counts are correct we

Should see reverses in these regions and especially here from a wave four into a away five that was the zone between 435 and 639 but that’s pasted it has ried from support into resistance that’s what we want we can then call it an a-wave top somewhere in this region and the

B-wave pullback is then due at some point possibly not yet it could still stretch a little higher as a set to these targets I mentioned and then as soon as we have a top in place and if we get a break below that level here round about $689 that’s the current level I’m

Watching then I can add a support for the b-wave if that pullback occurred now what would be the support area I will take it off the chart because I don’t think we’ve topped yet necessarily but we might not see much more before we get that pull back um

Yeah I mean that could be substantial but the thing is with B waves um with B waves they can also be extremely shallow so I’ve got a range here between 523 to 310 not suggesting we go all the way down to 310 also if it stretches higher obviously the support

Area will move so let’s assume we might go to that 1070 level then it’s suddenly between $6 and 327 so yeah that’s sort of uh what I can see right now in terms of levels to watch and and potential targets my understanding of the trend so hope you

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