Crypto Analyst Predicts 10X Move For Filecoin (FIL) To $70, But Can It Reach ATH?
20 Febbraio 2024 - 9:00PM
NEWSBTC
Over the last day, Filecoin (FIL) has seemingly emerged from the
shadows to stage a price recovery of over 10%. This notable move
has brought more attention to the altcoin, which had previously
failed to follow the general crypto market recovery. On the back of
this, one crypto analyst predicts big things for the altcoin,
expecting a 1,000% increase in its price. Filecoin Will See A 10X
Rise To $70 In the analysis that was shared on X (formerly
Twitter), crypto analyst “Tony The Bull” told his almost 20,000
followers that the Filecoin (FIL) price was gearing up for a
massive recovery. The chart shared in the analysis tracks the
movement of the coin over the last year, which saw it go from a low
below $3 to over $.7, an almost 200% increase. Nevertheless, the
crypto analyst believes there is more to come. Related Reading:
Bitcoin Open Interest Reaches $69,000 ATH Levels, What This Means
For Price The prediction for the Filecoin price from the crypto
analyst is that it will rally as high as $70. Now, given FIL’s
current trading value, this would mean a 1,000% increase or a 10X
increase from here. The analyst seems to believe that the altcoin
is entering into a price discovery phase, saying, “I’m gonna find
out.” $FIL to minimum $70 for a 10x Back to ATH is +20x Price
discovery = ? I’m gonna find out pic.twitter.com/w2O5fgAzDi — Tony
“The Bull” (@tonythebullBTC) February 19, 2024 Tony is not the
crypto analyst that forecasts a bullish future for the Filecoin
price as analyst Ali Martinez also expects the altcoin to do well.
Martinez revealed that FIL is currently trading in a “parallel
channel on its 3-day chart” which is usually bullish for price.
However, for the move to be confirmed, the crypto analyst explains
that the altcoin must break the “resistance posed by the channel’s
upper boundary, set at $8.50.” If this happens, then Martinez
expects the price to rise as high as $25.5. #Filecoin is trading
within a parallel channel on its 3-day chart. Watch out for the
resistance posed by the channel’s upper boundary, set at $8.50. A
successful break through this barrier could significantly bolster
$FIL‘s price, potentially tripling its value to reach $25.5!
pic.twitter.com/Tgg0rZfRrs — Ali (@ali_charts) February 19, 2024
Can FIL Reach A New All-Time High? In addition to his analysis,
Tony The Bull also posits that Filecoin is only 20X away from its
all-time high price of around $230, so it is possible that the
altcoin could see a run-up to this level. However, this was not
well-received by community members, who countered that it would be
impossible for FIL to reach a new ATH due to its inflation over the
last year. Related Reading: Finance Expert Predicts Bitcoin Will
Touch $100,000 Soon, Here’s When FIL’s circulating supply has risen
drastically over the years, putting it way higher than what it was
when it hit its all-time high back in 2021. Due to this,
expectations that the altcoin could get back to this level are very
low. “With its MASSIVE inflation over the last bear market, FIL
will not be making a new ATH,” one user said in response to the
crypto analyst. Nevertheless, FIL continues to show strength in the
daily chart. Its price is up 16% in the last 24 hours and 40% in
the last seven days, according to data from Coinmarketcap. It is
trading at $7.68 at the time of this writing. FIL price rises over
10% in 24 hours | Source: FILUSD on Tradingview.com Featured image
from Coincodex, chart from Tradingview.com
Grafico Azioni Filecoin (COIN:FILUSD)
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Da Mag 2024 a Giu 2024
Grafico Azioni Filecoin (COIN:FILUSD)
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Da Giu 2023 a Giu 2024