Filecoin Is About To Pump Beyond Your Wildest Imagination!Filecoin arguably has the single most bullish chart in all of crypto and I will explain why!
On this weekly chart, we can observe a clear breakout and retest of the long-term resistance trend. Not only have we had a breakout and retest, but the price level to break, around $7, has confluence with the most important technical levels, namely:
1. The 0.236 fibonacci retracement level;
2. A crucial horizontal resistance level;
3. The 100 weekly moving average;
Furthermore, price has currently found support on;
1. The weekly 8 EMA;
2. Long-term resistance that has turned support (this resistance-to-support flip is almost 3 YEARS OLD, which is incredibly significant);
3. A previous important horizontal resistance that has turned support (black dashed line).
Furthermore, the BINANCE:FILBTC chart shows a similar structure. TSX:FIL has also broken out of its longterm downtrend against CRYPTOCAP:BTC , so there is confluence between the COINBASE:FILUSD and the BINANCE:FILBTC chart, which adds even more significance to this incredibly bullish #crypto chart, possible the most bullish chart of a large cap #DePIN #cryptocurrency that has not pumped yet.
If #filecoin manages to break the $7 resistance level, I can see it propel to around $16, which is where the 200 weekly moving average sits at, within several days, possible within a few hours.
This also means your time to accumulate filecoin below $7 is running out. In fact, I would not be surprised if filecoin breaks $7 today and leaves all the doubters and hesitating weak-hand plebs behind!
Please note $16 is a minor initial target. Filecoin could easily run all the way to $26 and beyond within a few days of breaking out, which could happen at any moment.
