Filecoin Consolidates At $6
Filecoin (FIL) was one of the best-performing cryptocurrencies in Q1. Its value soared above $11.40, though Filecoin has since faced steep corrections. Over the past month, Filecoin has faced resistance at $6, falling to $5.3 mid May.
According to experts, Filecoin could still increase to $8.56 by the end of Q4. However, given that Filecoin competitors could offer higher returns, many investors are choosing to invest elsewhere. As a result, Filecoin could face additional bearish pressure, causing its price to decline to $5.50 in June.