With the appearance of a Hidden Bullish Divergence, Filecoin has the potential to strengthen today

[Ben Graham]

[Filecoin]

Although the conditions for Filecoin are still moving sideways, but with the position of EMA(50) and EMA(200) forming a Golden Cross provides an opportunity for Filecoin to strengthen toward its nearest resistance level today.

Key Levels

1. Resistance. 2 : 1.394

2. Resistance. 1 : 1.361

3. Pivot : 1.312

4. Support. 1 : 1.279

5. Support. 2 : 1.230

Tactical Scenario:

Positive Reaction Zone: If the price of Filecoin breaks above 1.312, it may strengthen to 1.361.

Momentum Extension Bias: If 1.361 is broken above, there is potential for Filecoin to continue strengthening up to 1.394.

Invalidation Level / Bias Revision:

The upside bias weakens if the price of Filecoin declines and falls below 1.230.

Technical Summary:

EMA(50) : 1.297

EMA(200): 1.291

RSI(14) : 38.76 + Hidden Bullish Divergent

Economic News Release Agenda:

Tonight from the U.S. market, there will only be one economic data release which is Unemployment Claims on 20:30 WIB.

The material has been provided by InstaForex Company - www.instaforex.com