FILUSD Accumulation almost over. Next stop $19.00.Filecoin (FILUSD) has been consolidating around its 1W MA50 (blue trend-line) for the past 4 weeks and appears to be at the end of the Lower Highs pattern similar to the one in 2019/20.
Both patterns held FIL's historic Support Zone, printed identical 1W RSI Cup formations and the past pattern initiated a strong 1-year rally above the Symmetrical Resistance Zone once the Lower Highs broke. Essentially the Descending Triangle patterns are Accumulation Phases before the Bull Cycle's main rally.
As a result, even though one last test of the Support Zone is technically viable, the upside at this time is already considerably greater than the risk involved, so in our opinion it is worth going long and have a modest 1W MA200 (orange trend-line) Target at $19.00.
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