Crypto
FILE Price Rally Faces Crunch Time at $0.84
FILE has seen a 4.45% increase to $0.80, but its price action is concerning for bulls.
The asset is now sitting at the pivot point and pressing against the upper Bollinger Band resistance at $0.84, as well as the 200-day SMA at $0.85.
Technical indicators suggest momentum exhaustion, with the MACD histogram sitting at an absolute zero reading and the RSI at 59.68 not giving bulls a clear advantage.
The taker buy/sell ratio is also unfavorable, indicating that spot sellers are dominating the market.
Despite this, smart money positioning remains bullish, with top-trader long/short ratios at 2.0479 and a 67.2% long position against 32.8% short.