Hello there! ๐๐น
Happy November ๐
Lets talk FIL
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Filecoin recently displayed bullish behavior๐ฎ, breaking from a 3 month descending triangle pattern. ๐
Trade invalid if we break below our light blue trendline at ~ $55.
In the near future, I expect to see an attempt to climb above $78 where we may see some resistance.
If we are successful in gaining support at ~78, my next targets for FIL are 104 and then 130.
FIL has potential to go beyond these targets as well, I will explain why in a short fundamental overview below.. ๐ซ
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Just announced recently, Filecoin is now partnered up with the Flow Blockchain, ( In brief. Created by NBA Top Shot developer Dapper Labs, Flow is a proof of stake blockchain designed for NFT collectibles and crypto games decrypt.co/resources...-is-flow-dapper-labs) and is now the main storage collaborator of FLOW.
In addition to its partnership with flow ๐๐
Over the last couple of weeks Bitdeer ( worlds leading mining services provider) announced it will now be providing services for mining FIL!
โFilecoin is a decentralized network with the native currency FIL. It was released in 2014 and has since gained a tremendous amount of traction through its users and miners. (Miners earn FIL)
โFIL (filecoin,) is by far the most popular data storage and retrieval coin, currently ranking #28 market cap๐ช
โOur popular Filecoin has protocols set in place to ensure proper storage of data as promised by FIL miners.
โAnyone with enough hard drive space can mine FIL.
๐ Filecoin reached its ATH in April of this year topping out at 237, we are currently far below ATH price (almost 75 percent below) ๐
Considering all the information listed above, I think that FIL has yet to catch up to other altcoins such as SHIB,SAND,MANA etc..
Let's not overlook this extremely popular storage coin as we continue this bull run.
๐๐๐NOTE๐๐๐
Bitcoin is seemingly resting at a new found support level, a break below ~57k could mean a serious correction and altcoins such as FIL will follow.
Always use caution when investing in the volatile cryptocurrency market. ๐โ๐ญ
๐๐๐This is not financial advice๐๐๐ Above are approximate targets based on fibs and major trend lines etc. I always recommend looking at multiple charts when making a big investment. Always have a stop loss โ๐๐ฒ set๐
Any thoughts ๐ญ๐ก, questions ๐โโ๏ธ๐โโ๏ธโ, good ๐, bad๐, happy ๐ or sad ๐ฅ, in the comments always welcome.
Jazerbay ๐