![Filecoin [FIL] market weakens, but investors can still profit here](https://i.newsformal.com/images/2022/12/23/cryptoamb/filecoin-fil-market-weakens-but-investors-can-stil-filecoin-fil-market-weakens-but-investors-can-stil-1606319470653444096.webp)
At press time, FIL was hanging loosely between 78.6% and 61.8% Fibonacci retracement levels and seemed poised for a further downtrend. Although the Money Flow Index indicator showed a sharp rise, the accumulation phase could be interrupted, given the drop in trading volumes and increased selling pressure.
The On Balance Volume also recorded a gentle downward trend, indicating that volumes dipped slightly. Such a dip could undermine buying pressure and give more leverage to sellers.