Amongst all the top 50 cryptocurrencies out there in terms of Market cap, #FIL is among one of the top 6 that got rekt so bad in this bear market, losing about 98.96% of it's price. In the last bull run, it took everyone by surprise after it skyrocketed to an unbelievable All time high at around $240, since the printing of those god candles, #FIL has been on a downward spiral for months, scarring away anyone who's interested in the project as a whole. There's a whole lot of developments going on at the #FILECOIN Foundation as at the time of writing. However, in this post I'll just talk on the technical analysis part and I can assure you the fundamentals are still pretty good. Note: This is not a financial advise, everything I post are for educational purposes alone. I hold a shit ton of #FIL for a pretty good reason. Before you YOLO your cash, make sure you do your own research.
This post is just the facts in the charts and it's going to be brief, straight to the point and not boring 🙂. There are few reasons why I started stacking more #FIL
- STOCHASTIC RSI moved above the 20 level
On the monthly, this move indicates the start of the bull run. However, there's been a cross which could mean a retest to the bottom at around $3.1 which has a lot of huge buy orders on major exchanges 🙂... Or could be sideways trading for a couple of weeks.
- Formation of a fantastic Accumulation stage😦
This level of accumulation could take a while before breaking out into the upside. #Fil is one of the wildest crypto out there during pumps, a total pain in the ass😂- Takes almost forever to breakout but when it does, it doesn't just take everyone by surprise, it moves in tens of dollars. So keep an eye on it. It will probably take another 6-8months to complete this beautiful accumulation stage but the longer the accumulation stage, the longer and greener the god candles 😂. There's been a lotta speculations out there about #Fil reaching $650 to $1000 by 2025. But a realistic price would be just above $460🙂. I could be wrong tho. Do have a wonderful week. See you next time.
