The price of Filecoin appears to be at a crossroads in its journey, as it trades around a major support level. During the May 19 and June 21 sell-offs, this barrier kept it from suffering enormous losses. Despite a small slide below it on June 22, FIL continues to remain above it, showing the presence of buyers.
The price of Filecoin is now hanging above $52.55, a support level that acted as a launching pad for the altcoin in mid-March and helped it avoid large drops during the recent slump.
With a -5.45% loss and a daily closure below the 2018 high of $1.40, Cardano price broke away from a bearish rising wedge pattern on June 8. After eventually recapturing $1.40 on July 3, ADA had a swift reversal of fortune. Without a daily close over $1.40, the altcoin is vulnerable to testing the 200-day SMA or the June 22 bottom, as it has been in the past.
Cardano price managed a rally from the June 22 low to July 7, culminating in a bearish rising wedge pattern that successfully triggered on July 8, pushing ADA below $1.40 after five days of holding the important level.
As the broader cryptocurrency complex faces increased selling pressure, Ethereum Classic is battling for support at the 2018 high. If the daily close falls below $46.98, the weakness is expected to continue down to the measured move objective, and maybe much deeper if the resumed selling acquires traction. However, if ETC maintains its 2018 high, the digital token will have a bright future.
Ethereum Classic price quietly developed a modest symmetrical triangle pattern around the Anchored VWAP from March 29 at $55.35 but below the sliding 50-day SMA from June 30 to July 6./n
