Filecoin down 6.5% on 2.3x normal volume. RSI(4h) at 28 — deep oversold. But here's the thing about oversold: it can always get more oversold.
📊 The Setup:
Price: $0.625 | RSI(4h): 28.1 (oversold) | RSI(daily): 32
Price below ALL moving averages (7/25/99 SMA)
MACD deeply negative on both timeframes — no divergence yet
🧠 The Problem:
The DePIN narrative that carried FIL to $0.80+ has faded. Storage is a commodity race, and FIL faces competition from cheaper alternatives. Volume is surging on the sell side — that's not capitulation, that's distribution.
L/S ratio at 1.58 = still too many longs hoping for a bounce. Until those longs get liquidated, the pain continues.
📋 Strategy: REDUCE or avoid.
• If holding: cut to 50% position, SL at $0.68
• Potential bounce zone: $0.55-$0.58 (only if volume dries up)
• Don't catch this knife until daily RSI shows bullish divergence
💬 Is FIL a generational buy at these levels or heading to $0.30? 👇
#FIL #Filecoin #DYOR
⚠️ Disclaimer: Not financial advice. DYOR and use stop losses.
📊 The Setup:
Price: $0.625 | RSI(4h): 28.1 (oversold) | RSI(daily): 32
Price below ALL moving averages (7/25/99 SMA)
MACD deeply negative on both timeframes — no divergence yet
🧠 The Problem:
The DePIN narrative that carried FIL to $0.80+ has faded. Storage is a commodity race, and FIL faces competition from cheaper alternatives. Volume is surging on the sell side — that's not capitulation, that's distribution.
L/S ratio at 1.58 = still too many longs hoping for a bounce. Until those longs get liquidated, the pain continues.
📋 Strategy: REDUCE or avoid.
• If holding: cut to 50% position, SL at $0.68
• Potential bounce zone: $0.55-$0.58 (only if volume dries up)
• Don't catch this knife until daily RSI shows bullish divergence
💬 Is FIL a generational buy at these levels or heading to $0.30? 👇
#FIL #Filecoin #DYOR
⚠️ Disclaimer: Not financial advice. DYOR and use stop losses.