As of December 21, 2024, the cryptocurrency market has shown signs of recovery following a sharp decline after the Federal Reserve's meeting on December 17. Bitcoin (BTC), which dropped to $92,000, has since rebounded above $98,000, offering some relief to the broader market. Altcoins such as Filecoin (FIL) and Quant (QNT) have notably benefitted from this recovery, with both tokens bouncing back from recent lows.
Over the past month, Filecoin (FIL) has seen a 23% increase, while Quant (QNT) has surged by 31%, both achieving significant breakouts. Filecoin, in particular, broke out from a nearly two-year-long Descending Triangle pattern. This breakout, which occurred on November 25, 2024, saw FIL surge above its descending resistance trendline, reaching a high of $8.42. This price movement marked a major milestone for the token, which had previously struggled within this pattern for an extended period.
Source: CoinMarketCap
