FIL coin price shows a failed head and shoulder pattern with a reversal from $18, indicating a potential trend reversal that may surpass $25.
<h2>Key technical points:</h2>
<ul>
 	<li style="font-weight: 400">The EMAs maintain a bearish alignment in the daily chart</li>
 	<li style="font-weight: 400">The RSI slope shows a bullish divergence </li>
 	<li style="font-weight: 400">The 24-hour trading volume in the Filecoin token is $73.05 Million, indicating a 130% rise. </li>
</ul>
<h2>Past Performance of FIL</h2>
The 50-day EMA provides a constant dynamic barrier to the FIL coin price and helps the downtrend continuation over the past few months. The downfall recently broke the $26 mark and fell below $20 to support $18. However, the bears managed to pull ahead and shoulder pattern with the neckline at $18. Nonetheless, the buyers actively accumulating the dip at $18 propelled higher prices with long-tail formations.

<img src="https://s3.tradingview.com/snapshots/a/APrLM9Ul.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/APrLM9Ul/">Tradingview</a>
<h2>FIL Technical Analysis </h2>
The FIL coin price action shows lower price rejection below $18 and is en-route to surpass the $20 mark. Therefore, the chances of a bullish continuation to reach the $25 mark increases with the increasing trend momentum.

The sudden reversal in the Filecoin coin price may shortly approach the dynamic resistance of 50-day EMA. Moreover, the 100 and 200-day EMAs maintain a falling trend with a bearish alignment that will provide different bearish influences if the prices surpass the 50-day EMA.

The MACD indicator shows the fast and slow lines undermining the recent bearish crossover by regaining the bullish alignment. The MACD histograms showcase the bullish trend resurfacing, which indicates a rise in buying pressure.

The RSI Indicator slope reverses the downtrend and avoids the downfall to the oversold zone. It surpasses the 14-day average and may shortly approach the 50% line. Hence, the indicator supports the bullish analysis. 

In short, the Filecoin technical analysis reflects a bullish bias, and the breakout of $20 can help the FIL coin surpass $26. 
<h2>Upcoming Trend</h2>
The FIL coin price projects the possibility of a bull run to the $30 mark as the buyers regain momentum. However, the case of a reversal from the 50-day EMA can not be neglected in such a carefree way. If the prices close below $18, it will nullify the bullish thesis. 

Support Levels: $18 and $16

Resistance Levels: $26 and $30

FIL Technical Analysis: Failed Bearish Pattern Teases Trend Reversal

FIL coin price shows a failed head and shoulder pattern with a reversal from $18, indicating a potential trend reversal that may surpass $25.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

FIL Technical Analysis: Failed Bearish Pattern Teases Trend Reversal

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