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According to the Filecoin price prediction, FIL could break strongly against the $6.5 resistance, but could fall below the moving average if the bears pull back.
Filecoin (FIL) surges with new breakthrough
Filecoin (FIL) is showing surprising strength today, leading the altcoin market with a stunning price surge of 3.09% to $6.39. This significant jump is one of FIL’s most impressive daily gains over the past month. In recent days, Filecoin has performed strongly, with its price soaring as much as 32.47%, reinforcing its positive outlook.
Filecoin forecast statistical data:
- Current Filecoin price – $5.9
- Filecoin market capitalization – $3 billion
- Filecoin Circulation Volume – 510.8 million
- Filecoin total supply – 1.9 billion
- Filecoin CoinMarketCap Ranking – 34th
FIL/USD market
Main level:
Resistance Levels: $8.00, $8.50, $9.00
Support levels: $4.00, $3.50, $3.00
FIL/USD begins a fresh rise from the $5.70 support zone as the price continues to rise above the 9-day and 21-day moving averages. The faster a cryptocurrency surpasses the upper limit of a channel, the faster it is likely to accelerate. However, this can only come into play if the bulls increase their buying pressure.
Filecoin Price Prediction: How Far Can FIL/USD Go?
As of this writing, Filecoin price is trading at $5.97 after adding 3.09% to the day’s value. However, the coin’s strength is opening the door to a massive recovery movement targeting $6. Meanwhile, from a technical perspective, FIL/USD could overcome the upside barrier as the 9-day moving average continues to hover above the 21-day moving average.
Nonetheless, the bulls will likely aim to break clear above the $6.00 and $7.00 levels in the next session. A successful breakout could lead to resistance levels of $8.00, $8.50, and $9.00. In case of a reversal, traders can be alerted to important support levels at $4.00, $3.50, and $3.00 respectively.
FIL/BTC moves to the upside
Compared to Bitcoin, Filecoin price is heading to the upside as the coin is trading at 1170 SAT and is expected to surpass the resistance level of 1500 SAT. Looking at the daily chart, traders can see that the bulls may start to dominate the market and the next resistance level could come above 1600 SAT.
On the downside, a bearish move could push the market below the lower boundary of the channel, which could touch support levels below 800 SAT. Meanwhile, the 9-day moving average may have a bullish crossover above the 21-day moving average, which could trigger more bullish signals in the market.
@GonzoXBT shared with his followers on He emphasized the importance of restoring resistance, suggesting that there will be discussions on specific figures in the future.
$FIL Trading on the trend line, the first step you’ve been waiting for
Once we get the resistance back we’ll talk numbers https://t.co/OzQP6Xfwdy pic.twitter.com/EUuHeGPIpQ
– Gonzo (@GonzoXBT) February 17, 2024
Filecoin Alternative
Filecoin price is currently in a bullish trend and could potentially break the upper channel boundary if momentum continues. However, if the downtrend continues, the price may fall to the lower limit. Among these, traders should consider the unique opportunity offered by $BTCMTX. Filecoin’s large market cap may limit its impact, but its small cap of $BTCMTX and significant growth potential, exceeding $11 million in the pre-sale phase, make it an attractive option.
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