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Filecoin (FIL) maintained an upside stance over the past month. It jumped 16% over the past day to $5.49. The alt gained over 30% and around 70% within the past week and 30 days, respectively.
Meanwhile, the altcoin seems poised for continued rallies following its latest breakout. A technical outlook shows FIL recently broke past a FIB golden pocket, signifying a price momentum shift. That highlights the possibility of significant price upticks from Filecoin.
Nevertheless, ecosystem developments and broad market influence remain vital for Filecoin’s future price trajectory. Analysts remain confident that the crypto industry is entering a new bull phase.
#Bitcoin is entering the first Bull Phase and #Altcoins are entering their first Bull Phase too.
— Michaël van de Poppe (@CryptoMichNL) November 11, 2023
Bitcoin has been enjoying its accumulation period, so did altcoins. During that period, altcoins are suffering heavily, while Bitcoin is grinding upwards.
Now it's time to shine.… pic.twitter.com/jGJ3pb3Ab8
Michael van de Poppe trusts Bitcoin and alts have seen increased accumulation lately, and “we’re most likely not going to see the prices of 2-months ago back again. Perhaps even ever.”
His analysis supports a massive rally for digital assets. Filecoin will likely explode to its targeted highs upon broad-based surges.
Further, positive developments like Sushi launching a decentralized exchange on Filecoin contribute to the crypto’s bullish outlook.
Sushi attracted attention as it became the first DEX to integrate with Filecoin. The alliance will ensure more investment opportunities for users. Filecoin will enjoy more liquidity. Furthermore, the upcoming SushiXSwap cross-chain function will allow individuals to transact with over 30 blockchain platforms.
🍣 Sushi is now live on @Filecoin, the world's largest decentralized storage network!
— Sushi.com (@SushiSwap) November 8, 2023
🥇1st DEX to launch on Filecoin
🌐 v2 & v3 AMM
🔁 Built-in DEX Aggregator
🔜 Cross-chain swap coming soon
📝 Blog: https://t.co/NPDc0W1uC0 pic.twitter.com/pZGYVMX0RY
Also, the partnership will likely make Sushi user-friendly and more accessible, ensuring new investment opportunities for crypto enthusiasts.
Filecoin price forecast
FIL has the potential of continuing its uptrends towards the $10 mark. The project will possibly attract new players due to increased investment opportunities. Surged demand will propel Filecoin prices higher.
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