According to the prepared price analysis, the price of Filecoin (FIL) has entered a potential bullish trend.
After the incredible rise of XRP and the rise of XLM that reminds us of 2021, all eyes have turned to the major altcoins. A new trend has emerged with the rise of digital currencies that have been traded in the market for many years.
FIL has a notable target in the general trend of major altcoins. In the analysis prepared by AMBCrypto, it was noted that FIL was supported by bulls and targeted new highs accompanied by the formation of an ascending triangle.
The following sentences were included in the analysis; “Since the FIL chart is showing an upward trend, a potential upside can be expected. FIL is trading in a formation pointing to $28.”
According to AMBCrypto, market sentiment is bullish as market participants anticipate a continued uptrend, especially as major altcoins are hosting fresh inflows of funds on a regular basis.
One of the major altcoins, FIL, has surged by 94.18 percent in the past month. FIL has seen a rise of more than 5 percent in the first days of December.
The analysis predicts that#FILwill determine its path in the coming trading hours and a significant rise will occur if the path in question is bullish.
Coinglass confirmed that open interest (OI) and funding rate data on FIL are positive.
The analysis included the following statements; “FIL may continue its upward trend and the price may rise to double-digit levels.”
According to the analysis, an ascending triangle has formed indicating bullish momentum on the FIL chart. FIL has managed to rise above the formation in question.
FIL needs to hold above $6.71 to support the upside. A potential resistance break could push $FIL to $16.8. The analysis predicts the next potential upside target to be $28.
