Filecoin (FIL) is currently priced at $1.28, reflecting a 24-hour change of -4.21%. The asset has experienced a daily trading range of $1.27 to $1.35, indicating limited volatility in the short term.

The trading volume stands at approximately 86.33 million, which represents 9.29% of its market capitalization. This volume suggests that the market is relatively active but lacks the momentum needed to push the price upward, especially considering the recent downward trend.

Technical indicators reveal a bearish sentiment, with the 1-hour RSI at 26, indicating oversold conditions. The 7-day RSI at 51 shows a neutral stance, while the longer-term indicators, such as the 14-day price change of -14.77% and the 30-day price change of -22.35%, highlight significant downward pressure.

Moving averages reflect a mixed outlook: the 8 SMA indicates slight bullish momentum with a +0.35% change, while the 13 SMA and longer averages show declines of up to -1.46%. This divergence signals uncertainty, as shorter-term averages suggest a potential bounce while longer-term trends remain bearish.

Filecoin's all-time high of $236.84, reached in April 2021, emphasizes the substantial decline from its peak, currently trading over 99% lower. The asset's inability to maintain upward momentum, alongside prolonged bearish signals, raises concerns about its near-term viability.

Given the current price action, negative RSI readings, and significant historical declines, the outlook for Filecoin remains bearish. Therefore, the recommendation is to Sell FIL at this time, as the asset lacks the necessary support and momentum to suggest a turnaround in the near future.