While the new year that started in China triggered the rise in some altcoins, these altcoins include VeChain (VET) and Filecoin (FIL).
At this point, Filecoin, which has risen by over 50% since the beginning of February, may be experiencing further rise potential.
Successful analyst Ali Martinez, who examined the FIL chart, stated that he expected an increase.
Pointing out that there is a significant resistance in front of FIL, the analyst said that this resistance level is $ 8.5.
“Filecoin is trading in a parallel channel on its 3-day chart. Note the resistance formed by the upper limit of the channel set at $8.50.
A successful breach of this $8.5 barrier could significantly support the price of FIL and potentially triple its value, allowing FIL to reach $25.5!”
FIL reaching the $25 target means an increase in price of more than 200%.
According to the analyst, FIL, which has increased by 15% in the last 24 hours, continues to be traded at $ 7.69 at the time of writing.
#Filecoin is trading within a parallel channel on its 3-day chart. Watch out for the resistance posed by the channel's upper boundary, set at $8.50.
A successful break through this barrier could significantly bolster $FIL's price, potentially tripling its value to reach $25.5! pic.twitter.com/Tgg0rZfRrs
— Ali (@ali_charts) February 19, 2024
*This is not investment advice.
