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FIL Price Prediction - Technical Analysis


www.altcoinbuzz.io May 04 2021 11:41, UTC
Reading time: ~3 m

File coin is a decentralized storage network which can store humanity’s most important information.

Filecoin is an open-source cloud storage marketplace, protocol, and cryptocurrency. Recently, FIL price has caught the attention of the whole crypto market when it made one of the most impressive bullish rally amongst all coins.

A superior network

Filecoin combines with IPFS, a peer-to-peer distributed network protocol. It makes a more efficient and secure web free from corporate control.

Store at hypercompetitive prices
The Filecoin network achieves staggering economies of scale by allowing anyone to participate as a storage provider and compete for your business. This reduces the prices for storing data drastically.
Provable security and authenticity
Content addressing and cryptographic storage proofs verify if data is being stored correctly and securely over time.
Mining

The Filecoin network achieves staggering economies of scale by allowing anyone to participate as a storage provider and monetize their open hard drive space. It rewards participants at multiple levels. From large scale data centers to local entrepreneurs with mining rigs, everyone can participate in mining of filecoin.

Security

Cryptographic proofs guarantee your data remains available and unchanged over time. Proof-of-Spacetime verifies the entirety of a file is being stored, unaltered, over the agreed-upon duration. Proof-of-Replication verifies the agreed-upon number of copies of a file are being stored.

Let us review FIL price.

FIL/USD – Price Prediction

FIL is currently trading between the support zone of $124 and resistance of $171. If it can break the resistance at $171, we could start seeing a move towards $200, $224, $248, $281 and $324. Failure to hold the support at $124 could lead to a drop towards $90.

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