Bears Hold Edge as FILE Price Fights Resistance

The cryptocurrency FILE is currently coiled in a tight range just beneath $0.78 resistance, and analysts are warning that bears have the edge.

A rejection at this level could put $0.72 on the table within the week, with some experts predicting a pullback of around 4% from current prices.

The technical analysis suggests that FILE is extended relative to its mean without sufficient volume conviction to justify it, and the MACD histogram has flatlined at zero, indicating exhaustion at a ceiling.

Further evidence of distribution behavior comes from derivatives data, where open interest has dropped 3.08% in 24 hours, and taker sell flow is dominating over taker buy flow.