- As per Coingecko, Filecoin is outperforming the global cryptocurrency market.
- In the last seven days, the FIL crypto price advanced by 3.7%.
Filecoin is a decentralized storage network that uses FIL tokens to incentivize users and providers to store and retrieve data. Filecoin uses IPFS, libp2p, and cryptographic proofs to ensure data availability and security. Filecoin was created by Protocol Labs, a pioneer in blockchain technology.
The market cap of the Filecoin crypto declined by 3.94% in the last 24 hours. This further has resulted in a market cap rank of #32 and the current market cap of the Filecoin is $2.981 Billion.
The spot trading volume of the FIL crypto declined by 18.9% and the derivatives volume further declined by 9.8% in the last 24 hours. The open interest for the Filecoin crypto stood at $183.85 Million.
The volume/market cap ratio of the FIL crypto is 11.66% and the market cap dominance of the crypto is 0.169%. Also, the volume/market cap ratio of the crypto is 0.1213 and the long/short ratio of the crypto is 0.8939.
Filecoin Token Overview
The circulating supply of the FIL crypto is 496.531 Million FIL and the total supply of the crypto is 1.96 Billion FIL. Also, the fully diluted market cap of the crypto is $11.78 Billion and the max supply for the crypto is undefined.
As per Etherscan(dot)io, the total number of holders for the Ethereum-wrapped Filecoin is 124 and the total transfers made for the crypto value is 1,876.
FIL Crypto Technical Analysis
On the weekly time frame, the FIL crypto formed a symmetrical triangle pattern which was broken recently. The price took support above the breakout level. If the FIL crypto further breaks above the last swing, we might get to see higher levels in the crypto price in the upcoming days.
FIL/USD Chart by TradingView.com
The indicators such as the Bollinger band and the EMAs are giving a buy signal on the chart. The 50-Day and the 200-Day EMAs are trading in a golden cross and the value of the indicator is consistently advancing with the advance in the crypto price.
The Bollinger band value of the FIL crypto is also advancing to higher levels followed by the advance in the crypto price. The MACD and the signal line are trading in a bearish cross while both the lines are trading above the zero level.
Summary
Filecoin is a decentralized storage network that uses FIL tokens to store and retrieve data. FIL has broken out of a symmetrical triangle pattern and has a bullish outlook. The indicators suggest a buy signal and a golden cross. Filecoin could reach higher levels in the future.
Technical Levels
Support Levels: $2.200 and $3.500
Resistance levels: $11.400 and $16.500
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.