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Filecoin (FIL) Falls 0.04%, Underperforms the Crypto Market Friday

Friday, December 31, 2021 02:34 PM | InvestorsObserver Analysts
Filecoin (FIL) Falls 0.04%, Underperforms the Crypto Market Friday

Filecoin (FIL) has been relatively less volatile compared to the crypto market. So far Friday, the Distributed Software Platform has dropped 3.6% to $33.92.

volatility - 12
InvestorsObserver is giving Filecoin a 12 Volatility Rank. Find out what this means to you and get the rest of the rankings on Filecoin!

Low Volatility

InvestorsObserver gives Filecoin a low volatility rank of 12, placing it in the bottom 12% of cryptos on the market.

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

Filecoin price is favorably positioned going forward. With support set at $32.14 and resistance around $34.59. This leaves 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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