Filecoin (FIL) is bullish today. FIL is one of the top gainers after a nearly 10% jump in the last 24 hours. At the time of writing, FIL was trading at $5.52, according to CoinGecko. Despite the increased buying pressure, there are still concerns over whether FIL will sustain the uptrend and possibly make a 10x gain.
Filecoin price prediction
The first three weeks of 2023 have seen a healthy increase in the prices of altcoins, and FIL has not been left behind. The total crypto market capitalization is back above $1 trillion because of this recovery. FIL has not been left behind, and an increase in trading volumes has seen the token rally higher.
In the last 24 hours, FIL has reported healthy trading volumes of more than $490 million. The coin has traded between $5.02 and $5.76 in the last 24 hours, indicating an increase in volatility. FIL has a market capitalization of more than $2 billion, ranking it the 34th largest cryptocurrency.
The technical indicators show that the bullish trend is weakening. The MACD line is nearly at par with the signal line after a downtrend, indicating that bears are coming back to the market. These indicators show a likelihood of FIL dropping lower.
If the bullish thesis is invalidated, FIL will drop to the immediate support at $5.49. If FIL drops below $5.30, it could erase the gains made in the last 24 hours and plunge toward $5. On the other hand, there is support from the broader market, which makes a case for more gains being on the way. An increase in buying pressure could push FIL past $5.70.
Filecoin is one of the oldest projects in the crypto sector. The Filecoin community has anticipated the release of superior technology to boost the network’s adoption by decentralized applications. Nevertheless, the development activities in Filecoin remain below those of other projects in the network.
Altcoins that could deliver 10x gains
If you are buying Filecoin today, you should consider diversifying with these altcoins with the potential for 10x gains.
Meta Masters Guild
Meta Masters Guild is one of the best presales happening today. The presale has already raised more than $1 million in a few days. The significant raise made within a short time shows that the crypto community is optimistic about the project’s potential.
Meta Masters Guild is a play-to-earn project where users will receive prizes when they play. The project plans to release its first game during the third quarter of 2023. 1 MEMAG token is currently priced at $0.01 and will increase to $0.013 in the next stage.
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