Filecoin (FIL) is currently trading at $1.19, reflecting a significant 7.60% decline over the past 24 hours. The daily price range has been narrow, oscillating between a low of $1.16 and a high of $1.28, indicating limited volatility despite the downward price movement.

Volume stands at 138,156,731, contributing to a Vol/Market Cap ratio of 15.72%, suggesting a relatively high trading activity compared to its market capitalization. The hourly moving averages indicate bearish sentiment, with the 8 SMA at $1.21 and declining, while longer-term SMAs also reflect downward pressure, particularly the 144 SMA at $1.28.

The RSI metrics indicate oversold conditions, with a 1-hour RSI of 21, suggesting that immediate short-term recovery might be limited. The 7-day RSI at 42 and 14-day price changes of -20.67% further illustrate ongoing bearish momentum, indicating a lack of buying interest in the medium term.

Fundamentally, Filecoin has experienced a dramatic decline from its all-time high of $236.84, reached in April 2021, reflecting a broader trend of decreased investor confidence. The recent 7-day and 30-day price changes of -9.77% and -9.72% respectively, show that the downward trend is persistent, and investor sentiment remains weak.

Given the current technical indicators and fundamental data, the outlook for Filecoin remains bearish. Therefore, the recommendation is to Sell, as the market conditions do not support a price recovery in the near term, and further declines may be expected based on recent performance trends.