Filecoin (FIL) is showing early signs of a trend reversal and bullish setup after trading within a downward channel for weeks.
The price of FIL has increased by 8.17% over the past week, currently trading at $2.38 with a 24-hour volume of $209.81 million.
Key resistance levels for FIL are identified at $2.75, $3.30, $3.85, and $4.85 if a breakout is confirmed, indicating a potential rally.
Analysts believe that if Filecoin breaks out successfully, it could lead to a significant upward momentum, targeting levels such as $4.85 with growing market interest.