Filecoin Price Analysis: FIL/USD is bullish amidst general market uptrend, high at $78

TL;DR Breakdown Filecoin price analysis is bullish for today.FIL/USD made another spike lower overnight.The $70 major support still holds. Analysis of Filecoin’s price is bullish today, with another selloff being rejected overnight and the market rising since then. As a result, we anticipate that FIL/USD will continue to rise in the near future. The cryptocurrency market is in the red zone, and most coins are declining. Bitcoin dropped by 1.16%, Ethereum suffered a loss of 3%, and Binance Coin fell by 2.79% on Tuesday. Avalanche was the day’s top-performing altcoin, with a 6% rise. Filecoin price movement in the last 24 hours: Filecoin retests $70 major support Over the past 24 hours, FIL/USD has traded in a range of $68.69 – $78.8, with significant volatility during this time period. Trading volume shot up by 35.17 percent to $1.55 billion, while the market capitalization is now valued at around $8.26 billion. FIL/USD 4-hour chart: FIL ready to rally? On the 4-hour chart, we can see that bulls have begun to dominate Filecoin’s price movement, with some upward pressure developing. FIL/USD 4-hour chart. Source: TradingView The price of Filecoin slid significantly last week, returning to bearish momentum. On the 13th of September, the FIL/USD pair rose to $70 for the second time. The Filecoin price, on the other hand, reversed and subsequently dropped to $70 prominent support for a second time. The bulls succe...