Filecoin (FIL) Often referred to as one of the most promising projects in the Web 3 revolution, what many experts feel is just around the corner. But this year Sikka has really struggled. However, after a period of consolidation, a bullish breakout could be imminent. Here are some factors worth noting:
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Filecoin could grow 4x by the end of 2022 or even more.
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The underlying value of the coin is highly underestimated.
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The move to Web 3 this year will see a lot of FIL’s upward move.
Data Source: Tradingview
Filecoin (FIL) – How Soon Can It Reach 4x?
After a volatile start to the year, it reached a point where there were fears that we might see crypto for a long time. Like many altcoins, Filecoin (FIL) was in fact very hard, and it hit a new 2022 low of $16.5 a few weeks ago. But then the momentum reversed, and we saw some nice growth and a period of consolidation.
The sentiment has improved a lot and this can only be a good thing for FIL. We are watching to see if the coin can flip from the overhead resistance zone to the support zone at $21 in the near term.
This can trigger a bull run that sends the FIL up to at least 30%. From a longer-term perspective, analysts are looking at $80 easily. Remember that in September last year, FIL was trading at $120. So there is precedent for rapid gains and losses.
Should you get Filecoin (FIL)
Filecoin continues to be an important force in the data storage business. It is designed to be a decentralized data solution, and with the coming era of decentralized internet, this type of service will be invaluable.
FIL is not alone in this matter. There are some competitors. But so far, the project has done really well. it’s worth seeing.