FIL.X Filecoin
6,518
$5.55
$0.3602
(6.09%)
| Watchers | 6,518 |
| 52-Wk Low | $0.00 |
| 52-Wk High | $0.00 |
Crypto Expert Willy Woo Predicts Bitcoin Has Room To Run – Here Are The Driversnewsbtc • 1 day ago
Crypto expert Willy Woo has predicted that Bitcoin will still make significant moves to the upside. He made this claim based on an indicator that suggests crypto investors are still willing to buy the flagship crypto at higher prices. Related Reading: Filecoin On Fire: Analyst Torches Doubters With $15 Target Bitcoin Still Has “A Lot Of Room To Run” Woo mentioned in an X (formerly Twitter) post that Bitcoin still has a lot of room to run before the flagship crypto experiences a reversal or consolidation. To support his bullish sentiment, he shared a chart highlighting Bitcoin VWAP (Volume-Weighted Average Price). The crypto analyst further suggested that bulls were firmly in control, stating that he would hate to be a “trapped Bitcoin bear right now.” The VWAP measures the average price of Bitcoin over a specific period and factors in the volume at each price level to determine the current sentiment in the market. The chart Woo shared showed that Bitcoin’s VWAP was currently on an upward trajectory. In a subsequent X post, Woo highlighted Bitcoin’s risk signal to further reinforce his bullish sentiment. He noted that Bitcoin is still in the early stages in its liquidity cycle and is still doing “warm-up exercises.” He added that Bitcoin’s long-term frame risk signal is relatively low as it is still consolidating under all-time highs. He claimed that this risk “only starts climbing after the floodgates open,” meaning that the best is yet to come for Bitcoin. Meanwhile, the wave of profit-taking by Bitcoin investors (since the crypto hit a new all-time high in March) looks to be done, which indicates that Bitcoin may be ready for its next leg up. Woo confirmed that profit-taking has been completed as he provided an update on Bitcoin’s Spent Output Profit Ratio (SOPR). He noted that Bitcoin is undergoing a “very healthy reset, against a backdrop of capital flows into the network climbing again.” Other Bullish Indicators For Bitcoin Crypto analyst Crypto Jebb recently highlighted an inverse heads and shoulders pattern that had formed on Bitcoin’s chart. The analyst claimed this bullish pattern could send Bitcoin’s price to $100,000. The analyst also noted several other indicators currently signaling a bullish outlook for Bitcoin. One is the Moving Average Convergence/Divergence (MACD), which he claimed had turned very bullish on the daily chart and indicated that the bulls were regaining control. He also highlighted a ‘green red green’ formation on the daily chart, which, according to Crypto Jebb, shows that Bitcoin is “doing very well.” Related Reading: Crypto Alert: VeChain Bull Run Imminent, Expert Predicts 500% Rally Meanwhile, crypto analyst Mikybull Crypto highlighted a striking similarity between Bitcoin’s 2020 post-halving price action and its price action after this halving. From the chart he shared, Bitcoin looks to be at the point of takeoff if it continues to mirror the price action from 2020. Featured image from Pexels, chart from TradingView
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After a period of correction, Filecoin (FIL) is teasing a potential price surge, buoyed by bullish technical indicators and analyst predictions. As of Friday afternoon, FIL is hovering around $5.80, but whispers of a $15 target in the coming weeks are swirling in the cryptosphere. Related Reading: Solana On The Brink? Price Stalemate At Crucial $140 Support Recent Price Surge Ignites Investor Interest FIL has been on a tear lately, defying the overall slump in the cryptocurrency market. Over the past 24 hours, the token saw an increase of over 7%, accompanied by a healthy trading volume exceeding $420 million. This surge in price and activity has grabbed the attention of market watchers, with many speculating on the possibility of a sustained upward trend. Analyst Eyes $15: Falling Wedge Breakout Hints At Price Reversal Adding fuel to the fire is crypto analyst World Of Charts, who has expressed a decidedly bullish sentiment on FIL’s future. According to their analysis, the recent price correction appears to be nearing its end. $Fil Healthy Correction Has Almost Over Seems Like #Fil Will Recover From Here Falling Wedge Breakout Has Already Confirmed Expecting Move Towards 15$ In Coming Weeks#Crypto #Filcoin pic.twitter.com/O61j9B02ha — World Of Charts (@WorldOfCharts1) May 15, 2024 They point to a confirmed falling wedge breakout pattern, which historically indicates a potential trend reversal. This technical indicator suggests FIL could be poised for a significant rebound, with World Of Charts setting a target price of $15 in the coming weeks. FIL’s Resilience Bodes Well For Future Further bolstering the bullish case is FIL’s defiance of the broader downward trend in the crypto market. While many digital assets have been experiencing significant price drops, FIL has managed to hold its ground. This resilience suggests strong underlying support and potential for future growth. Filecoin: Technical Indicators Flash Green Technical analysis also paints a positive picture for FIL. The RSI (Relative Strength Index), a momentum indicator, is currently exhibiting a slow but steady upward trajectory. This suggests that FIL is not overbought and has room for further price appreciation. Additionally, FIL has historically displayed a pattern of high trading volume at price peaks and low volume during price dips. This ongoing trend signifies strength in the token’s price action. Related Reading: Whale Watch: Ethereum Fresh Buy Signal Sparks Speculation Breach Of Support Could Dampen Optimism However, the bullish outlook is not without its caveats. A breach below the crucial $5.50 support level could trigger negative sentiment and potentially lead to a price decline. This highlights the inherent volatility of the cryptocurrency market, where unforeseen events can quickly alter price movements. Furthermore, market sentiment is highly sensitive to external factors such as regulatory news, macroeconomic trends, and technological developments within the crypto space. Any adverse developments, such as stringent regulatory crackdowns or security breaches, could exacerbate selling pressure and undermine investor confidence. Featured image from Wallpapers.com, chart from TradingView
Experts predict a downturn for Solana and Filecoin prices by late May, while Milei Moneda's presale draws investors seeking significant returns. #partnercontent
Experts predict a downturn for Solana and Filecoin prices by late May, while Milei Moneda's presale draws investors seeking significant returns. #partnercontent
May 2024 Crypto Investment Spotlight: Solana’s Rebound, Filecoin’s Growth, And BlockDAG’s Strategic Success Inside the dynamic world of cryptocurrencies, savvy investors are constantly scouting for promising projects. This month, the spotlight is on Solana’s promising rebound, Filecoin’s significant ecosystem expansion, and BlockDAG‘s strategic success on the global stage, highlighted by
Key Takeaways The crypto industry has been consistently introducing innovative and groundbreaking projects. Among these, Filecoin (FIL) has captured attention with its unique features, particularly its decentralized file storage system, alongside its impressive growth metrics. This has firmly positioned it within the industry. Following its significant success in 2021, where it achieved substantial returns, there’s
The post Uniswap and Filecoin (FIL) Traders Join Kelexo (KLXO) Presale, Attracted by the Lending Market’s Growth appeared first on Coinpedia Fintech News Kelexo (KLXO) presale is becoming the talk of crypto and blockchain enthusiasts as it is witnessing a massive influx of investors in its presale. This massive influx has made Uniswap and Filecoin (FIL) traders to draw their attention to Kelexo (KLXO) presale due to the massive wave of growth it is recording in its presale. …
Filecoin recently shared its Q1 2024 report with the general public. The report showcased an overview of the network’s performance this year. According to the report, Filecoin’s storage market has grown remarkably in 2024. Its active deals have gone up 9% in the Quarter-on-Quarter analysis. Its utilization increased from 18% in 2023 Q4 to 23% …
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The post Filecoin and Litecoin down in the last 30 Days in Sluggish Market While Raboo Soars in Crypto Presale Event appeared first on Coinpedia Fintech News Although the Bitcoin halving event has occurred, the crypto market has yet to warm up thoroughly. Raboo’s crypto presale has defied the broader market sluggishness to roar past the $1 million milestone, while the Filecoin and Litecoin prices have slumped 41% and 22%, respectively, in the past month as the market struggles to make headway. …