- Fil crypto price is currently seeing a strong bearish trend and can soon see a new high in the future. In contrast, the asset has seen a jump of more than 2.29%
- Technical indicators of the Filecoin hints towards a strong upside momentum in future. Meanwhile, FIL/BTC pair has seen a gain of more than 2.3%
Why Invest In FIL Crypto?
FIL crypto price is currently trading in a bearish mode and can soon see a strong upside trend. Filecoin is hovering near the value of $29 and has seen a gain of more than 2.2%. It is a decentralized storage system that aims to store the most valuable information of humanity. The idea of it was first described back in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network. Filecoin is an open protocol backed by a blockchain that records commitments made by the network’s participants, with transactions made using FIL, which is its native currency. One can invest in Filecoin as per their needs and risk capacity.
FIL coin price is currently ranked 38th in the CMC and can soon place itself in the top crypto-verse. The volume of the coin is currently down by more than 40% in the intraday session. The volume to market cap ratio of the asset price suggests a consolidated trend in price.
Technical Indicators Of FIL Crypto Suggests A Strong Consolidated Trend
The weekly technical chart of Filecoin is currently on a consolidated trend in the daily chart. Coming to the daily chart, the asset price is in a strong downside trend. If the Filecoin sees an upside trend then a setback near the value of $35 can be seen. The downtrend of the coin sees a bounceback near $25. There is a downside parallel channel formed in Filecoin which can push the asset price to a new low. If the coin price sees a rally then an upside move till $100 can be seen. FIL/BTC pair can also see strong momentum in the future.
Technical Levels
Major Resistance: $40
Major Support: $20
