Filecoin Price Analysis: FIL spikes above $75, set to slowly retrace before another rally?

TL;DR Breakdown Filecoin price analysis is bearish for today.FIL/USD spiked above the $75 resistance yesterday.FIL consolidated today. Filecoin price analysis is bearish for today as the market has spiked above the $75 resistance and started to consolidate below the $78 mark. Therefore, we expect FIL/USD to retrace once more, and try to set a higher low from which to reach further highs later this week. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded in the green over the last 24 hours. Bitcoin is up by 0.5 percent, while Ethereum is among the best performers, with a gain of 6.1 percent. Filecoin price movement in the last 24 hours: Filecoin xxx FIL/USD traded in a range of $75.06 – $78.15, indicating mild volatility over the last 24 hours. Trading volume totals $784 billion, with a decrease of 8.75 percent from yesterday. Meanwhile, the total market capitalization trades around $7.76 billion, ranking the coin in 23rd place overall. FIL/USD 4-hour chart: FIL to retrace from the $78 high? On the 4-hour chart, the Filecoin price has struggled to reach further upside today, likely leading to a reversal over the next 24 hours. FIL/USD 4-hour chart. Source: TradingView Filecoin price action has seen a strong advance over the past month. After setting a swing low around the $40 mark on the 20th of July, FIL/USD saw a rapid reversal and a several-week rally. On the 23rd of August, the current swin...