Filecoin [FIL] hiked by 40%, investors can benefit from these levels

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion FIL rallied almost 40% in the past seven days. Uptrend momentum could slow after hitting a crucial September resistance level. Filecoin [FIL] continues to post daily and weekly double-digit hikes. At press time, it […]

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinionUptrend momentum could slow after hitting a crucial September resistance level.

So far, the recent rally has allowed FIL to recover its losses. FIL shrunk by over 75%, dropping from $11 in August to $2.5 in late December 2022. But it broke above the downtrend line in early January 2023 and flipped the market structure to bullish. Invalidation of the price correction will occur if FIL’s daily candlestick close above $6.809 and confirms the uptrend. Such a move could give bulls exceptional leverage to target the $8-$11 zone, a 66% potential hike.

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