Filecoin (FIL) Price Jumps by 80% in Two Days | Coin of The Week (youtu.be)

Today we will analyze Filecoin, which has an interesting setup; a descending parallel channel. Such channels usually contain corrective structures, meaning an eventual breakout from it would be likely.

As of today, the price has already made three attempts at breaking out from the resistance line, making the resistance weaker in the process.

If FIL breaks out, the main resistance area would be between $16.40 and $19.20. This horizontal resistance area is also between the 0.5-0.618 Fib retracement resistance levels and coincides with the previously outlined resistance area.

Therefore, the area would be expected to provide strong resistance if the price were to increase.

Source:

submitted by /u/godova
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