Altcoins Set For Explosive Growth: Analyst Predicts Epic Rally

The popular altcoin trader and analyst Captain Faibik predicted a massive bull run for the altcoins similar to the first quarter of the year 2024. In the recent X post, the analyst pointed out that the altcoin market is about to experience a major surge. Captain Faibik focused on the fact that it is necessary […]

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Bullish in Bearish: Analysis Shows Surging Altcoins Amid BTC Dip

An analyst says five altcoins have the potential to surge amid the BTC bear market. These include Optimism, Chainlink, Avalanche, ...

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BNB, AXS, XMR, and Major Altcoins Prices Could Spike Soon, Santiment Claims

Major altcoins including BNB, AXS, XMR could soon surge in price according to Santiment. The company made the statement in ...

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Livepeer (LPT) Price Hits a New ATH of $73.26, Gears Up Towards $100

Livepeer’s (LPT) price soars to a new all-time of $73.26. The LPT token has risen towards the $100 price mark. ...

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Filecoin (FIL) Continues Recovery, Gains 16% In A Single Day

Filecoin (FIL) made a positive start in July. The cryptocurrency has been experiencing a substantial price increase over the past 24 hours. According to CoinGecko data, FIL has increased in value by 16.47% in the past day, propelling its price to $4.73.  FIL is the native token of the decentralized Filecoin network, an open-source cloud storage protocol designed for easy data storage and retrieval. Related Reading: Shiba Inu Leads With Highest Number of Fake Twitter Followers, Data Reveals Filecoin In June – Price Action The FIL price started the month trading at $4.693. The token’s value dipped after touching the $5 price level, losing as much as 34% before June 10. However, the FIL price has steadily risen since this sharp decline, gaining more than 52% in the past few weeks. It is worth noting that Filecoin moved sideways towards the end of June, with the token’s price hovering around $4. That said, FIL appears to have resumed its bullish course, having soared more than 20% since the beginning of July. Most of this price increase is due to today’s spike, which has pushed Filecoin to reclaim its price level seen in early June. As of this writing, Filecoin (FIL) changes hands at $4.73, according to data from CoinGecko. The cryptocurrency has a 24-hour trading volume of over $530 million, representing a 434% surge in the past day. The recent price upswing of Filecoin (FIL) has also positively impacted its market capitalization, with a market cap of more than $2 billion USD. What’s Next For FIL? It remains to be seen how long this current price rally will last, especially as the daily Relative Strength Index (RSI) nears the overbought zone. The RSI is a momentum indicator that tracks a token’s oversold and overbought levels. When the RSI enters the oversold region, it signals that the token’s price is losing momentum, and a reversal might be on the horizon. Additionally, Filecoin is at the key resistance level of $4.8 on the daily timeframe. If FIL breaks this threshold, the token is expected to continue its bullish run, leading to further price appreciation. On the flip side, if FIL fails to break the $4.8 resistance level, we could see the coin fall to the $2.941 support level.   Meanwhile, the 200 EMA (Exponential Moving Average) also acts as a dynamic resistance for the Filecoin price, posing a barrier to upward movement, as seen on the chart below. Hence, the bullish run may not continue until the price of FIL moves above the 200 EMA.  FILUSD at the $4.8 resistance zone | Source: FILUSD chart from TradingView Related Reading: Historical Litecoin Bearish Signal Goes Off, Correction Incoming? Featured image from iStock, chart from TradingView

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