**Filecoin Faces Bearish Sentiment Amid Market Uncertainty**

Filecoin (FIL) has shown a modest increase of 4.01% against the US Dollar in the past 24 hours, outperforming the broader cryptocurrency market, which saw a 1.67% rise. Despite these short-term gains, the overall sentiment remains bearish. FIL is currently trading at $3.61, significantly below the predicted $4.68 target for October 9, 2024.

The Fear & Greed index stands at 41, indicating a prevailing sense of fear among investors. Technical indicators also paint a grim picture, with 21 out of 31 signaling a bearish forecast. Key support levels are at $3.45, $3.34, and $3.24, while resistance levels are at $3.67, $3.77, and $3.88.

In summary, despite recent gains, the medium-term outlook for Filecoin remains pessimistic, driven by negative market sentiment and technical indicators. Investors should exercise caution.