Filecoin has displayed a relatively stable nature and a substantial attraction during this period, and it appears to be on the verge of being set for a massive price hike, too. FIL has experienced an astonishing rise of approximately 15% over the past week alone, pointing toward its future upward trajectory at its prices.
At the time of writing, Filecoin’s price hovers around $9.88, which comes against strong trading activity amounting to $1.48 billion over the last 24 hours, coupled with its market capitalization being put at $5.23 billion. What is worth noting is that within the past 24 hours alone, FIL’s value has risen considerably by 5.40%.
Following the recent correction in Bitcoin (BTC), Filecoin (FIL) finds itself sitting firmly on the second major support/resistance (S/R) level. The steadiness shown at this point indicates a strong bullish stand with possibilities for significant upward movements. In case nothing changed dramatically in Bitcoin and the market, it can be inferred that Filecoin might well zoom to the moon soon.
Filecoin Long-term Target Ranges Between $100 to $190
Analysts within the cryptocurrency sphere are optimistic about FIL’s long-term price performance, with many anticipating considerable upside moves. This illustrates an increasing confidence in Filecoin’s prospects for growth and an increase in its value.
Cryptocurrency analyst JAVON MARKS recently shared a bullish outlook on Filecoin (FIL) price movements. FIL prices have displayed an impressive increase, recording significant gains of around +222%. The analyst implies that this rally could be only the beginning of a bigger uptrend.
With a breakout currently maintaining its momentum and a breakout target set at $190.89, there is the potential for a further climb of over 1,791%. This indicates the possibility of significant future gains in the FIL price.
Furthermore, Captain Faibik, a renowned Crypto analyst, has shared his optimistic outlook regarding the future price trajectory of FIL. He emphasizes that those with aspirations of retiring by 2025 should seriously contemplate acquiring FIL at present and adopting a patient investment strategy.
According to his analysis, FIL is poised for substantial growth, with a projected long-term target price of $100. This assertion underscores the potential for significant returns for investors who choose to embrace a long-term perspective on FIL.
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