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Filecoin (FIL) Falls 0.02%, Underperforms the Crypto Market Sunday

Sunday, June 04, 2023 10:57 AM | InvestorsObserver Analysts
Filecoin (FIL) Falls 0.02%, Underperforms the Crypto Market Sunday

Filecoin (FIL) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Sunday, the Distributed Software Platform has dropped 1.64% to $4.82.

volatility - 27
InvestorsObserver is giving Filecoin a 27 Volatility Rank. Find out what this means to you and get the rest of the rankings on Filecoin!

Moderately Volatile

InvestorsObserver gives Filecoin a moderate volatility rank of 27, placing it in the bottom 27% of cryptos on the market.

The Volatility Gauge follows this makes its score defined by recent trends, rather than a bad day. FIL's moderate volatility reading is coupled with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.

Filecoin price is in a good position going forward. With support around $4.71 and resistance set at $4.87. This positions Filecoin with room to run before facing selling pressures.

What is a Coin?

A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.

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