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Filecoin’s price traction has waned. FIL is currently priced at $155.27, which is 35% lower than its all-time peak of $238. With a market value of more than $10.5 billion, it is now the world’s 17th largest digital currency.
The context: Filecoin is a blockchain project in the filesharing industry. People from all over the world will use the network to share their free bandwidth and win FILs. The FIl coin will then be converted to fiat currency. Furthermore, the network enables developers to build decentralised file storage ventures.
Filecoin has recently been the talk of the region. This comes after the price increased by more than 650 percent from its low point in February of this year. Filecoin was the tenth-largest cryptocurrency project at its height. However, the market has lately moved downwards as the momentum has drained. This is due in part to traders’ emphasis on other currencies such as Dogecoin. It is also due to profit-taking following its recent surge. So, what is the future of Filecoin?
Filecoin price prediction
The four-hour chart reveals that the price of Filecoin has been heading sideways in recent days. It is somewhat lower than its all-time peak and is at the same pace as the short and long-term moving averages.
The volatility of the currency, as determined by the Average True Range (ATR), has continued to fall. According to technical review, this is normally the calm before the storm, indicating that it will quickly break out. The primary levels to watch are the $136 and $200 help and resistance levels, respectively. A step below or beyond these thresholds would indicate a breakout.
FIL Price Chart
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