Filecoin's native token, FIL, has performed well over the past week, skyrocketing 40% to trade at 7Around $7. This is after a long bear market, with FIL coming from an all-time high of $191 in early 2021.
Filecoin has been observed to be trading in a parallel channel on its 3-day chart. If the fil is able to break through 8The key resistance of $50 could trigger a major *** if the FIL can close at 8Above $50, it is expected to triple in value.
Based on the parallel channel pattern on the Filecoin technical chart, there is significant potential for FIL. As he emphasized, FIL seems to be ready to break out of the current channel, after passing support. Probablely** the target is located at 25$5, which is the top of the parallel channel above the filecoin trading range.
On the 3-day chart, it is clear that Filecoin has been consistently consoidate within the lower parallel channel over the past few months. Now with the fil at 8The $50 is struggling with solid resistance, i.e. if it can break through this level decisively, it could head towards 25The next channel of $5 is moving forward - it will be more than 200% above the current level. As the power accelerates, traders seem to be expecting this technological breakthrough to drive a new Filecoin bull run.
The technical bullish setup is supported by a positive momentum indicator. The MACD line is above the signal line and the RSI is above 55, indicating that the momentum is accelerating.
In terms of support and resistance zones, the support level of FIL is around 500 USD and 4$20. On the upside, the first significant resistance level sits at 800 USD.
The most recent interest has been driven by the integration of Filecoin with Solana, which allows Solana to scale while maintaining security and decentralization by leveraging Filecoin's decentralized storage capabilities.
Solana is currently using Filecoin to make its block history more accessible and usable for infrastructure providers, explorers, index compilers, and anyone who needs access to history.
This integration with the high-growth Solana ecosystem could significantly expand Filecoin's use cases and adoption.
With a bullish technical picture, strong fundamentals, and growing development activity, Filecoin seems poised for further development. Critical 8The $50 resistance will be the next test – and if it can break above this level decisively, the FIL could enter a new bull market. #solana #fil #wld
**: Cosmic block view.