Filecoin Price Prediction: Buyers Pick $12 As FIL Price Target

The post Filecoin Price Prediction: Buyers Pick $12 As FIL Price Target appeared first on Coinpedia Fintech News

With a $3.84 Billion market cap, the 27th biggest crypto in the world, Filecoin, is making waves in the industry. Turning around with a boost in buying pressure, the FIL price trend is back with a bang and eyes the $12 mark.  

Challenging the previous peak above the $7 level, the uptrend continuation teases a breakout event for more sideline traders to enter with confidence. Will this recovery put Filecoin in the Top 10 list, or will it lift the FIL price beyond $10? Read our FIL price prediction NOW to find out. 

Filecoin Turns The Bullish-Zen Mode ON!

Source: Tradingview

With the double bottom reversal from the psychological mark of $5 gaining momentum, the FIL price starts a trend reversal. As the market gains momentum, Filecoin is trending among the top performers.  

Currently, the FIL coin price shows a rounding bottom pattern with a neckline at $7.56, teasing a breakout. Further, the 222% jump in the trading volume represents the bulk of buyers supporting the uptrend. 

The overnight support comes with the successful integration of Filecoin with the Solana ecosystem, an already trending and thriving network. Thus, the sentiments take a positive push from this event, making it a “Buy-the-news” for Filecoin. 

Currently, the FIL price trades at $7.51 with an intraday move of 1.47%, reflecting additional momentum left in the altcoin. 

Will FIL Price Reach $12?

With the altcoin price trading above the 78.60% Fibonacci level, the probability supports the bullish trend continuation. Further, the breakout of the $7.56 neckline will signal a breakout run for the psychological mark of $10. Optimistically, the trend continuation eyes the $12 mark aligning with the 1.618 Fibonacci level.

On the flip side, a retest of the 78.60% fib level is possible.