FIL once again held the $3 support level and showed a strong rebound, up 12%. The previous price analysis had highlighted a buying opportunity at the support level, and this prediction has been verified by the strong bullishness of buyers.

If the bulls can break through this barrier, it may bring more profits

The RSI has broken above the neutral 50 level and surged into the overbought zone, indicating strong buying pressure. Similarly, the OBV has experienced a considerable rise, while the CMF remains above zero, indicating healthy fund inflows.

These bullish price action and positive indicators reinforce each other, suggesting that FIL could continue to rise in the near term. However, the $3.5 resistance level needs to be broken as it has previously suppressed an upward rally in price.

If the bulls can break this resistance level, the price could rise further to $3.8 to $4. Otherwise, failure to break above $3.5 could result in a wider range.

Positive funding rates reveal bullish bias in futures markets

As prices rise, most traders in the derivatives market continue to bet on an increase in FIL prices. According to Coinalyze data, FIL's funding rate is positive, reflecting the dominance of bullish long positions. In addition, the OI rose from $73.4 million to $77.3 million, which is another sign of a recent bullish trend that could further drive price increases.#FIL