FILE Trading Range: Whale Longs vs MACD's Deafening Silence

FILE is trading at $0.74 as whale-tier traders are positioning themselves nearly 2-to-1 long, according to recent derivatives data.

This setup has been created by selective accumulation in mid-cap tokens ahead of a potential macro catalyst, with Bitcoin acting as the conductor for everything else.

The MACD histogram is flatlined at zero and momentum conviction is absent, which may indicate a market that's coiled and waiting to resolve.

A break above $0.77 on volume would open up the path to $0.79, while failure to do so could lead to a sharp drop.