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Will Filecoin Bounce? Key Indicator Points to Yes

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  • Filecoin appears to be on the move toward a key support level, which could signal the potential for a price increase if buying pressure picks up.
  • There has also been a TD Sequential “13” indication, which signals that sellers are exhausted and a reversal could occur.
  • Some investors believe that there will likely be a short-term rising trend but are waiting for stronger bullish momentum to confirm this. 

In a recent post on X (formerly Twitter), crypto analyst Ali (@ali_charts) drew the attention of many Filecoin (FIL) traders and investors. In the post, Ali explains that Filecoin is sitting on the lower side of a trading channel, a strategic price point that functions as support and has the potential to soar upwards if buying activity increases.

What captured the attention of most readers was that alongside Ali’s analysis, a TD Sequential indicator, which is popular for anticipating a trend reversal, also appeared. Many consider this to be a confirming signal of an upcoming minor uptrend.

TD Sequential Indicator Provides Optimistic Outlook

In the TradingView screenshot shared in the post and from the candlestick pattern, we can see the price moving downwards almost to the $2.64 region, which is bounded by a thick black support line. The price touched this level and showed signs of holding above it, which suggests that buyers are starting to help defend this support barrier. 

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Source: X @ali_charts

Another supporting clue is that TD Sequential shows a “buy” signal. This sequential indicator suggests a bullish outlook when it shows “13.” This is because the  indicator typically flashes a “13” after a sequence of candles that suggest exhaustion in an ongoing trend; in this case, the indicator is invoking sentiments that bearish movements might be tapering.

Buyers Reaction Would Control Filecoin’s Possible Rise

According to the overall chart structure, it appears that Filecoin has been ranging, as the price is currently at the lower boundary. It is on the verge of testing this very boundary, which has previously acted as a major bounce point, such as in late April. 

If the trend does repeat and sellers respond to the signal, it would allow Filecoin to surpass expectations and achieve short-term targets. Of course, the market must remain cautious, as additional confirmation is required, such as an increase in volume or a series of green candles that drive the price back to mid-range or upper-channel levels. 

Related Reading | From $2 to $20? XRP’s Historic Moves Hint at Massive Upside

Bitcoin Entry Opportunity? Waiting Game Is Suggested by Exchange Inflow Momentum

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  • Crypto analyst Ali Martinez states that Bitcoin exchange inflow volume momentum has become an important indicator of when to enter the market.
  • Inflow momentum in Bitcoin is falling, and buy signals are downtrending, which suggests that now is not a time for buying.
  • Ali Martinez advised investors to be patient and assess whether Bitcoin confirms stronger movement or not before making any major moves.

In a recent X post, popular crypto analyst Ali Martinez drew the attention of traders and investors to one important indicator in the current Bitcoin market. Martinez pointed out that the momentum in the inflow volume on Bitcoin (BTC) exchanges is currently suggesting patience rather than immediate action. 

This is a metric that is particularly useful for identifying key entry points, he said, and right now, it is no longer indicating that the time for a move is approaching.

Visual Indicators Support Wait-and-See Strategy

Glassnode, the well-known blockchain data analytics platform, revealed a lot with a chart that Martinez shared in his post. The chart tracks how much BTC is being deposited on exchanges over time. Large inflows to these exchanges indicate that investors are ready to sell, while relatively low inflows mean they are being more cautious and holding onto their assets.

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Source: X @ali_charts

Two very important moving averages (200-day and 365-day Simple Moving Average), shown in red and blue lines, are also included in the chart. If inflow volumes remain mostly below or above these averages, then the market is showing a trend upward or downward, respectively. 

At present, the inflow momentum is declining—a sign of cooling off after spikes in the past, said Martinez. He also suggests that traders should wait for stronger signals before reentering the market.

On the chart, we can find many upsides and downsides, which are marked with green and light red areas. According to Martinez, it is time for patience rather than immediate action. 

Patience in the Uncertain Bitcoin Market 

Ali Martinez believes timing is important when it comes to the BTC market, which he states is still full of opportunity. In uncertain times, he believes that the exchange inflow volume momentum could serve as a guide on when to make a buy move for BTC.

Although the excitement toward Bitcoin’s future is at an all-time high, he believes that seasoned investors will wait for the right time before making the next big move.

TRUMP on the Edge? A Drop to $8 Looms if This Key Level Fails

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  • TRUMP could drop to $8 if it loses the $10 support level, says Ali Martinez.
  • The resistance level for TRUMP is between $10.700 and $11.500, while it is currently trading at $10.163 (down 2.62%).
  • Similar to the broader market, this token has been volatile in the last 12 hours.

A critical price analysis of the TRUMP token has been provided by Ali Martinez, a renowned cryptocurrency analyst. In a post on X, Martinez shared a chart showing the cryptocurrency’s price action on the Binance exchange. 

The chart indicates that the token’s price below the $10 support could trigger a downward trend, bringing the token’s price to $8. 

Potential Breakdown Signals a Critical Moment for TRUMP

Martinez’s chart shows a TRUMP/USDT perpetual contract on a four-hour time frame, with important support and resistance levels. It also shows that the memecoin’s price has been trading within a particular range, with the most recent price being $10.163, down 2.62% in the last session.

The token’s high in the last 24 hours was $10.668, followed by the low for today at $10.137, pointing to a narrow trading range as traders await the next movement. A rally in TRUMP once happened, and it caused the price to move above $12.500. 

However, the token encountered strong resistance, which caused its price to retrace significantly. During the decline, the price first consolidated around $11.500, then broke down toward the $10.700 support.

The price has further declined because of the continued bearish pressure, now hovering around the critical $10 support level. As Martinez warns, if this level does not hold, TRUMP might fall towards another support level around $8; it also risks falling further below it.

Will Buyers Defend $10 or Give Way to Bears?

TRUMP has been closely watched by market participants to see whether it can maintain this position or if selling pressure will bring its price lower. If bearish momentum strengthens, stop losses will be triggered all around, playing out like a slope and dropping the market to the next major support zone. 

However, a strong rebound from this level could indicate another attempt to break the $11.500 resistance.