Filecoin (FIL) has performed well these days, with the price clearly rising within 24 hours, and trading activity also spiking. From a technical perspective, there are quite a few highlights worth discussing.

Let's start with the positive side. The 7-period moving average remains above the 25-period and 99-period moving averages, and the MACD stays above the signal line, all indicating a clear upward trend. Looking at trading data, around 5 PM on January 5, trading volume surged to 19.54 million USDT, with a net inflow of 1.04 million USDT, showing that genuine funds are backing this rally. From a conceptual standpoint, the community is optimistic about Filecoin's prospects in decentralized storage, coupled with the recent buzz around AI and big data, which aligns well with the main growth narratives of Web3.

But don't get overly optimistic. Although the MACD histogram is still positive, it has started to decline from its high point, suggesting that the bullish momentum may be waning. More importantly, after such a rise, funds are beginning to withdraw — at 6 PM on January 5, there was an outflow of 1.07 million USDT, a typical profit-taking signal. Another detail is that earlier, the RSI indicator hit the overbought zone (the 6-period RSI even soared to 87.23), and a quick correction followed, indicating that there is still room for adjustment.

Overall, this upward trend is real, but the momentum is gradually weakening. In the short term, maintaining good support levels is crucial.