Filecoin's (FIL) price has experienced a significant decline since April, dropping from $9.3 to $4.3. Despite this, investors are eager to reverse this trend by pushing the price upwards and breaking out of consolidation. Positive signs include the Chaikin Money Flow (CMF) showing an uptick towards the neutral line, indicating potential buying pressure. Additionally, the Funding Rate has been consistently positive, suggesting a preference for long positions among traders. These indicators reflect growing confidence and interest in cryptocurrency. Currently trading at $4.29, Filecoin is range-bound between $4.61 and $4.20, with a potential 7% rally if it breaks out. However, failure to do so could lead to further consolidation or a drop below $4.20. Reclaiming $5 remains a key target for the altcoin, with predictions pointing towards a bullish outlook. It is important to conduct thorough research and seek professional advice before making any financial decisions. Read more AI-generated news on: https://app.chaingpt.org/news
