FIL (Filecoin) bull run ~Price Points/Fundamentals~
Hello there! 👋🐹
Happy November 🍁
Lets talk FIL
🤸♂️🏃♀️
Filecoin recently displayed bullish behavior🐮, breaking from a 3 month descending triangle pattern. 🆗
Trade invalid if we break below our light blue trendline at ~ $55.
In the near future, I expect to see an attempt to climb above $78 where we may see some resistance.
If we are successful in gaining support at ~78, my next targets for FIL are 104 and then 130.
FIL has potential to go beyond these targets as well, I will explain why in a short fundamental overview below.. 💫
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Just announced recently, Filecoin is now partnered up with the Flow Blockchain, ( In brief. Created by NBA Top Shot developer Dapper Labs, Flow is a proof of stake blockchain designed for NFT collectibles and crypto games decrypt.co/resources/what-is-flow-dapper-labs) and is now the main storage collaborator of FLOW.
In addition to its partnership with flow 👇👇
Over the last couple of weeks Bitdeer ( worlds leading mining services provider) announced it will now be providing services for mining FIL!
✔Filecoin is a decentralized network with the native currency FIL. It was released in 2014 and has since gained a tremendous amount of traction through its users and miners. (Miners earn FIL)
✔FIL (filecoin,) is by far the most popular data storage and retrieval coin, currently ranking #28 market cap💪
✔Our popular Filecoin has protocols set in place to ensure proper storage of data as promised by FIL miners.
✔Anyone with enough hard drive space can mine FIL.
🌏 Filecoin reached its ATH in April of this year topping out at 237, we are currently far below ATH price (almost 75 percent below) 👀
Considering all the information listed above, I think that FIL has yet to catch up to other altcoins such as SHIB,SAND,MANA etc..
Let's not overlook this extremely popular storage coin as we continue this bull run.
📌📌📌NOTE📌📌📌
Bitcoin is seemingly resting at a new found support level, a break below ~57k could mean a serious correction and altcoins such as FIL will follow.
Always use caution when investing in the volatile cryptocurrency market. 😃✔💭
🛑🛑🛑This is not financial advice🛑🛑🛑 Above are approximate targets based on fibs and major trend lines etc. I always recommend looking at multiple charts when making a big investment. Always have a stop loss ✋🛑💲 set🆗
Any thoughts 💭💡, questions 🙋♀️🙋♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome.
Jazerbay 🍁
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