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Price Prediction

Filecoin Prices: Will FIC code recover?

Felicoen Group

Pilecoin Price has collapsed, erasing all the gains that occurred in 2024, and made it one of the worst symbols of codes in encryption. The FIL code decreased to its lowest level in $ 2.6155 on Monday, its lowest level since 2022. It decreased by more than 74 % of its highest level in 2024. So why did the price of Velikoin decrease, and will it decrease?

Pilecoin price expectations

The weekly graph shows that the price of FIL has been in a narrow range in the past two years, even with great progress and great updates. It remained within the main support level at $ 2.6155 and resistance at $ 11.4. On the other hand, other cryptocurrencies such as Bitcoin, Solana and Mantra have increased to a standard standard recently.

Filecoin price remains less than its highest level ever at $ 237.67, which turns it from the 20 best currency in the world. It has now remained less than 50 weeks and 25 weeks, a sign of control.

The RSI (RSI) and other vibrations have moved down, a sign that the currency loses momentum.

On the positive side, there are signs that the price of Filecoin has moved to the accumulation stage to arrange the Eliot wave. This period is usually characterized by side movements, with the price remaining in a narrow range.

Filecoin may also start the first phase of the Elleot Wave style soon. This stage is usually difficult and followed by the second corrective stage and the longest width of the three wave.

Therefore, don’t waste everything for Filecoin because it has a good opportunity to recover. The initial recovery may see that it jumps from the current $ 3 to the top side of the range at $ 11.42. On the other hand, the step above this level will indicate more gains to 27 dollars, which is the highest swing in March 2022.

The alternative scenario is the place where there is a strong recovery now, as it decreased under the bottom side of the horizontal canal.

Pilecoin price
elephant The price chart by Tradingview

Why is the FIL code destroyed?

There are some reasons why Pilecoin has shattered. First, the currency decreased due to the continuous collapse in the encryption industry. Bitcoin fell to less than $ 93,000, while the ether moved to less than $ 2,500 for the first time in weeks. Other senior delays in the encryption industry is Bittensor, Celestia, Gala, Cardano, Usjective and WorldCoin, which has decreased by more than 35 % in the past 24 hours.

Pilecoin Price has also crashed with investors turning from laboratory currencies to coins. Modern data showed that Meme currencies were some of the best performers in the encryption industry. Some of the best coins that were the owners of the millionaires that were written are the official likes of Trump, Melania and Karma.

Moreover, there are signs that the Filecoin ecosystem does not work well. For example, Filecoin FVM has a closed total value (TVL) more than $ 47.6 million, a decrease of $ 120 million in December last year. It has been overcome by the most recent cryptocurrencies such as APTOS, SUI and Hyperlequid.

There are also fears that Filecoin does not do everything, as most users continue to use central storage solutions like Amazon Aws and Google Cloud. It was also not adopted by most of the artificial intelligence models as most analysts expect.

Post Filecoin Prediction: Will FIC code recover? First appeared on Invezz

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