BINANCE:FILUSDT is still in the bearish trend phase and is squeezed under the global trend resistance against which a pattern is forming that could turn the market.
Lately, the coin has been building volume and increasing liquidity, but it is still trading under the pressure of resistance. A symmetrical triangle is forming relative to this line on H4, a break of which resistance is capable of breaking the global trend. Why can the resistance of this figure be broken? Because a pre-breakout consolidation is formed relative to this boundary and the market starts to go beyond it.
Resistance levels: 9.543 Support levels: 8.994
Resistance at 9.543 currently restrains the market from realizing the accumulated potential. But the overall setup hints at the readiness to break this area, which will start forming an upward momentum. Targets in this case could be 11.780 and 14.43
@RLinda, Thanks for posting, I love Filecoin! The 20 week MA crossed up the 50 and the 100 already this year, and looks like the 50 is going to get above the 100 week MA in the next month or two. I think once FIL breaks this massive $10-12 resistance zone we will probably see a major breakout to the $40 range followed by further bullish impulses this year and next. Depends on what BTC does of course, but sure looks good right now. I don't know if we'll ever see that covid cash fueled blow off ATH again like last cycle, but I expect $100-200 for FIL again easy in the next year or two. I also don't expect we'll ever see prices this low again, but who knows it's just my opinion. I don't expect to see anywhere near the crazy vertical pumps and blow off tops or the crazy drops into nothingness this cycle. I feel like the crypto market is going to go more slowly/steadily up and stabilize alot more in the coming years versus what we have seen in the past.
StewySongs
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👏👏👏
Real_CryptoRoy
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Good job, I also wait FIL to rise
MyCryptoParadise_Nathan
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Incredibly insightful analysis! I appreciate the depth and clarity you provide.