Search results for: filecoin

Filecoin [FIL] could be the latest cryptocurrency to make it to the SEC’s radar. Grayscale received a comment letter from an SEC staff stating that FIL could fall under the classification of a security.

The two-phased network upgrade is aimed at improving network quality. FIL was quick to react as its price went up by 3%. 

The retest of the bullish order block at $5.2 saw the bulls come up with only a meek response. The market structure of Filecoin also pointed toward a downtrend.

Filecoin’s development team suggested to advance the upcoming nv19 upgrade from 11 May to 27 April in order to address the current issue in block production.

Filecoin [FIL] faced price rejection at the local overhead resistance level of $6.5. The rejection is unsettling as it limits FIL’s capacity to recover mid-March losses.

Filecoin has been on an uptrend in 2023, and the breakout past the $5 and $5.65 levels in January was a crucial development. A look at the daily timeframe showed that the $6.44-$7.25 was a bearish order block on that timeframe,

Protocol revenue, or the total fees generated on the chain increased 5% in Q1 2023 on a quarter-on-quarter basis, while the supply-side revenue going to the storage providers dipped.

Filecoin [FIL] crossed $6, following BTC price action. However, key obstacles ahead could slow the rally and affect its long-term prospects. FIL may consolidate within $5.93 – $6.186 if BTC’s sideways structure persists. But FIL could aim at the immediate price ceiling of $6.503 if BTC surges beyond $30.42K.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. FIL consolidated in a narrow range. A declining open interest rate and the long/short ratio could give sellers more hope.  Since the end of March, Filecoin [FIL] has been consolidating in a narrow rangeContinue reading “Filecoin [FIL] could breakout if BTC traverses this path, more inside”

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion FIL’s price consolidation seemed far from over based on a key price chart indicator.  Development activity and weighted sentiment fell.  Filecoin [FIL] has been under price consolidation since 20 March, oscillating between $5.345 andContinue reading “Filecoin’s consolidation persists- Here are the key levels to look out for “

FIP0056 is a proposal aiming to address some of the broader challenges facing the Filecoin network.  At press time, Filecoin’s network performance seemed fine and FIL’s price action remained bullish.  Filecoin [FIL] is about to make another major network upgrade if the proposal gets a ‘yes’ from the community. As per the announcement, Filecoin’s latestContinue reading “Filecoin can release its next major upgrade if this FIP gets approved “

Filecoin has launched its Filecoin Virtual Machine. The FVM has led to increased FIL trading in the last 24 hours.  To provide an execution environment for running the Ethereum [ETH] Virtual Machine (EVM)-compatible smart contracts on its network, leading decentralized storage network Filecoin [FIL] finally launched its Filecoin Virtual Machine [FVM] on the mainnet onContinue reading “FIL sees increased interest as Filecoin launches virtual machine, details inside”