FILE is coiling in a tight $1.05–$1.09 range with a bullish MA stack underneath it and aggressive sell-side taker flow punching from above; a confirmed break of $1.09 opens $1.18, but a rejection h...

FILE is sitting at $1.07 as of the October 5 open, up just over 1% on the day and pinned beneath a wall of resistance that has refused to give way. The 24-hour range of $1.04–$1.07 tells you everything you need to know about where this market is right now: directionally ambiguous on the surface, but underneath it, a structural bullish setup that is quietly building pressure. Every moving average of significance — the SMA 7 at $1.05, SMA 20 at $1.01, SMA 50 at $0.86, and the 200-day at $0.85 — is stacked cleanly below current price. That's not noise; that's a well-constructed base.

What's killing the momentum is the supply ceiling just overhead. Immediate resistance at $1.08 and strong resistance at $1.09 are acting as a lid, and with daily volume on Binance spot clocking in at $5.26 million, there simply isn't the raw firepower yet to punch through without a catalyst. The broader crypto market backdrop — Bitcoin correlation, DeFi rotation, and tightening regulatory tone globally — means FILE is not trading in isolation. For traders watching this at Blockchain.news, the setup warrants full attention.

Here's the honest read: the trend is bullish, but momentum has flatlined. The MACD line and signal line have converged to the same value with a histogram reading of exactly zero — that's not a coincidence, that's a market at equilibrium between buyers and sellers.

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