Filecoin (FIL) price prediction shows that if the bears retreat, FIL could see a strong breakout above the $6.5 resistance level, but there is also a chance that it could fall below the moving averages. Filecoin (FIL) is surging as a new breakout is imminent. Filecoin (FIL) is having a stellar day today, leading the exchange market with a staggering 3.09% price increase to $6.39. This major jump is one of the most impressive daily gains for FIL in the past month. Filecoin has been performing strongly in recent days, with prices surging as high as 32.47%, reinforcing its positive outlook.
Filecoin Forecast Statistics:
Filecoin current price – $5.9
Filecoin Market Cap – $3 billion
Filecoin Circulating Supply – 510.8 Million
Filecoin Total Supply – 1.9 billion
Filecoin Coinmarketcap Ranking – 34th
FIL/USD Market
Key Levels:
Resistance Levels: $8.00, $8.50, $9.00
Support Levels: $4.00, $3.50, $3.00
FILUSD – Daily Chart
The FIL/USD pair started a fresh increase from the $5.70 support area and the price continued to rise above the 9-day and 21-day moving averages. If the bulls increase the buying pressure, an acceleration in the rise to break out of the upper boundary of the channel is possible.
Filecoin Price Prediction: How Far Can FIL/USD Go?
Currently, Filecoin price is trading at $5.97 after a daily gain of 3.09%. However, the coin’s strength is opening the doors for a significant recovery movement with a target of $6.00. Meanwhile, from a technical point of view, FIL/USD has the ability to overcome upward hurdles as long as the 9-day moving average remains above the 21-day moving average.
However, it seems likely that the bulls will attempt to break above the $6.00 and $7.00 resistance levels in the coming trades. If they succeed in breaking above, the $8.00, $8.50, and $9.00 resistance levels may come into play. In the event of a reversal, traders should closely watch the key support levels at $4.00, $3.50, and $3.00 respectively.
FIL/BTC moves upward
Against Bitcoin, Filecoin price is heading in an upward direction with the coin trading at 1170 SAT and expected to break above the resistance level of 1500 SAT. Looking at the daily chart, traders can see that bulls may start to dominate the market with the next resistance level likely to be at 1600 SAT and above.
FILBTC – Daily Chart
On the downside, there could be a bearish movement that pushes the market towards the lower border of the channel and hits the support below 800 SAT. Along with this, the 9-day moving average could form a bullish crossover above the 21-day moving average, which could trigger more bullish signals in the market.
@GonzoXBT shared with followers on X (formerly Twitter) that $FIL has surpassed the trendline, marking a progression from what was initially expected. He stressed the importance of retaking resistance, indicating that specific numbers will soon be discussed.
$FIL
Trading above the trend line, the first step I am waiting for
Take back the resistance and we will discuss the numbers
https://t.co/OzQP6Xfwdy
pic.twitter.com/EUuHeGPIpQ
— GONZO (@GonzoXBT)
February 17, 2024
Alternatives to Filecoin
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