Finally, even though Filecoin showed signs of recovery, it still traded below its crucial support zone.
The coin saw heavy sell-offs on June 21, however, at press time the Relative Strength Index had moved north towards the neutral zone.
At press time, the altcoin was priced $6.38, a 60% fall from its highest valuation of $16 on 11 May.
Filecoin was priced at $162 on May 2 and at press time, it was valued at $55.19, which meant that the coin fell by over 65% in over a month and a half.
FIL broke its crucial support of $59 around 3 days back and the coin has been trading below that support level ever since.
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