uLet's break down one of the most interesting assets from a fundamental perspective #FILđ°
đThe FIL cryptocurrency is related to the Filecoin project, which is a decentralized data storage network.
FIL is used in the Filecoin network to pay for data storage and transmission. Users can rent their free disk storage or rent disk space to store their data, and receive a fee in FIL for providing this service.
đ§Active has been walking between global support level around $5, global resistance level around $9 since the beginning of the year. Also during the reversal we tested the global resistance level around 11.7$, from which we got a reversal formation and subsequently corrected down to 5$. The price throughout the growth forms ascending channels from which it shows a constant reaction.
âĄïžIn the near future I expect a retest of the lower boundary of the ascending channel. Short-term I expect growth up to 6.76. These values have formed a maximum, which is located at the upper boundary of the trading channel.
âĄïžMedium-term I expect a breakdown of the upper boundary of the trading channel and the subsequent impulsive growth up to 10.36. But on the way to this target there is a global resistance level which will not be easy to break through. But breaking this level will be a catalyst for further markup of the asset.
âĄïžGlobally, the asset has all chances to reach the global resistance level around $25, where our main target is located. From current values it is a little less than 5X
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