FILE Teeters on $0.70 Support: Bounce or Vacuum

FILE is struggling to maintain its value, bleeding into its last meaningful support at $0.70. Despite smart money positioning for a bounce, taker sell pressure is overwhelming, and the real-time order flow suggests that FILE is being bled rather than bought.

The 200-day SMA sits at $0.96, with all shorter-term moving averages stacked above current price, creating a bearish moving average cascade. The Bollinger Band position is extremely narrow, indicating that price is stapled to the lower band at $0.71, which could precede a mean-reversion pop.

However, the taker buy/sell ratio sits at 0.5955, meaning aggressive sellers are putting in nearly $1.68 for every $1.00 of buying. This market isn't being bought; it's being bled.