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Filecoin (FIL/USDT) analysis
Below is the analysis of Filecoin (FIL/USDT) using the VSA (Volume Spread Analysis) method based on 7 days price data. Price volatility over 7 days Price surge phase: Filecoin has increased from $5.62 to a peak of $6.27 in the early days of the week, indicating strong buying pressure. Price drop phase: After reaching a peak of $6.27, the price sharply dropped to a low of $4.99, reflecting significant selling pressure. Currently: The price is stable around the range of $5.20 - $5.25, showing signs of accumulation. 2. VSA Analysis A. Distribution Signs: Price peaked at $6.27 with high trading volume. The price cannot continue to rise, reflecting the large sellers (smart money) are selling off. Meaning: After distribution, the price sharply dropped to the low level of $4.99. B. Shakeout phase Signs: The price dropped sharply from $6.27 to the $5.00 range with a large fluctuation amplitude. The volume increased dramatically at low price levels, indicating that buying pressure is starting to emerge. Meaning: The market may be weeding out weak investors before returning to the accumulation trend. C. Accumulation phase Signs: The price fluctuates within a narrow range of $5.20 - $5.25 with decreasing volume. Small candlestick chart (narrow spread), suitable for accumulation phase. Meaning: The market is waiting for new momentum to break out. 4. Trading scenario Scenario 1: Upward Trend (Breakout) Signs: The price surpassed $5.30 with a surge in trading volume. Action: Buy when the price breaks resistance at $5.30. Short-term target: $5.50 - $5.70. Scenario 2: Downtrend (Breakdown) Signs: Price drops below $5.00 with high volume. Action: Sell if the price breaks the support $5.00. Short-term target: $4.80 - $4.60. Scenario 3: Accumulation continues Signs: The price fluctuates within the range of $5.20 - $5.25 with low volume. Action: Wait for a clear signal to trade when the price breaks out of this range. 5. Conclusion Filecoin is currently consolidating after a strong correction. Based on VSA, the price may continue to fluctuate within a narrow range before breaking out. Investors should: Track the volume at important levels ($5.30 and $5.00). Set clear strategies for breakout or breakdown scenarios. $FIL {spot}(FILUSDT) $BTC {spot}(BTCUSDT)