$FIL is forming a symmetrical triangle on the 6-hour chart.
This pattern typically signals a continuation or reversal of the trend depending on the breakout direction.
1. Pattern Analysis.
A symmetrical triangle shows price consolidation with lower highs and higher lows.
Currently the market is waiting for a breakout.
2. Key Levels to Watch.
Resistance Levels (Upward Targets).
$6.98
$7.15
$8.35
$10.00
Support Levels.
$5.65
$5.30
3. Entry (Buy Zone) 📈
If the breakout happens upward.
Buy Zone. Between $5.90 – $6.20 after confirmation.
4. Targets
Once the breakout is confirmed.
1. First Target. $6.98
2. Second Target. $7.15
3. Third Target. $8.35
4. Final Target. $10.00
5. Stop Loss
Place a Stop Loss at $5.50 (below key support to manage risk).
6. Breakout Confirmation.
Watch for high volume on the breakout candle above the resistance line of the triangle.
Avoid entering before confirmation to reduce false breakout risks.
7. Risk Management
Risk only 2-3% of your total capital per trade.
Stick to the Stop Loss strictly.
Summary.
If Filecoin ($FIL) breaks the symmetrical triangle upward with strong volume the next targets are $6.98, $7.15, $8.35 and potentially $10.00.
Keep an eye on the $5.90 – $6.20 buy zone and set your Stop Loss at $5.50 to protect your trade.
Patience and discipline are key for success in this setup.
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