The decentralized storage solutions provider Filecoin has witnessed a strong surge gaining more than 35% over the last week. In the last 24 hours, the Filecoin (FIL) price has surged by an additional 16% and is currently trading at $7.31 with a market cap of $3.74 billion. More importantly, the FIL trading volume has also shot up by a staggering 200% in the last 24 hours to $990 million, indicating strong investor interest in the altcoin.
Filecoin (FIL) Price Gears Up For A 200% Rally
Noted crypto analyst Ali Martinez has identified an intriguing trend within Filecoin’s trading patterns, noting its consolidation within a parallel channel on the 3-day chart. As the cryptocurrency approaches the upper boundary of the channel, Martinez cautions investors to monitor potential resistance, currently positioned at $8.50.
Martinez underscores the significance of breaching this resistance level, suggesting that a successful breakthrough could catalyze a substantial surge in Filecoin’s price
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