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The Filecoin price surged 21% in the last 24 hours to trade at $7.465 as of 4:49 a.m. EST on trading volume that rose 216% to $1 billion.
Its position as today’s top gainer among major cryptos comes after FIL announced a collaboration with Solana that’s set to bolster Solana’s infrastructure and improve its decentralized storage capabilities.
Solana's integration with #Filecoin is a significant move away from centralized storage solutions and a remarkable step towards enhancing the reliability and scalability of the Solana blockchain.@solana is utilizing Filecoin to make its block history more accessible and usable… pic.twitter.com/1NcuaLNYT5
— Filecoin (@Filecoin) February 16, 2024
However, the Filecoin price has been on an uptrend since the start of February. Can this new development push the price even higher?
Filecoin Price Bullish, Riding The Cup And Handle Pattern
The Filecoin price indicates a shift towards an upward trajectory. This is evident from the successive daily bullish candlesticks at the support level of $3.072. This level has proven to be a major foundation for the bulls, enabling them to regain control.
Despite hitting resistance at $8.09, the bulls have shown resilience, bouncing back from the $4.817 support, forming the cup and handle pattern. This signifies the continuation of a bullish trend.
FIL is trading above both the 50-day and 200-day Simple Moving Averages (SMAs) with a golden cross at $3.986, which further confirms the bullish sentiment for FIL’s price.
Additionally, the Relative Strength Index is trending upward past the 70-overbought region at 81, which indicates intense buying pressure.
The Moving Average Convergence Divergence (MACD) line (blue) further cements the bullish sentiment for the FIL price as it trends over the signal line (orange). This signifies a bullish crossover, further affirming a continuation of the bullish momentum, as evidenced by the massive extension of green bars on the histogram over the zero line, indicating positive momentum.
Filecoin Price Prediction
The current Filecoin price technical analysis shows signs of a continuation of the bullish momentum. This is further supported by the formation of the cup and handle pattern, as the bulls aim to breach the resistance at $8.09, as they aim for $13.
However, the RSI is in the overbought region at 81, which may indicate an impending price correction. In this scenario, the FIL price may retrace back to support zones at $5.639 and $4.461, coinciding with the 50-day and 200-day SMAs.
Meanwhile, as the Filecoin price soars, investors who are looking for turbocharged potential gains and willing to take more risk are turning to eTukTuk. Analysts say it has the potential to explode at launch.
Green AI Crypto Project eTukTuk Blasts Past $1.2 Million In New Crypto ICO
eTukTuk (TUK) is an AI-driven transport solution set to revolutionize transportation in developing nations. Its presale has garnered over $1.2 million in early funding as it races towards its $1.32 million target.
1/ As our world races ahead, personal vehicles surge, bringing environmental challenges. But there's hope! 🚗❌
Today, we explore cities championing eco-friendly public transport.
Buckle up! 🌿 pic.twitter.com/joRizVjYRh
— eTukTuk (@eTukTukio) February 7, 2024
Constructing a future charging infrastructure through blockchain technology has made the eTukTuk presale an avenue for investment in a project with ambitious and transformative goals. eTukTuk operates on the Binance Smart Chain (BSC) and embraces a decentralized sharing economy model, prioritizing scalability, security, and efficiency.
The project aims to deal with issues of carbon emissions, improve health, and ignite the importance of financial inclusivity in society.
Switching from the old, noisy, and polluting ICE tuktuks to the sleek, quiet, and eco-friendly eTukTuk – because progress is not just about moving, it's about moving forward responsibly 🌿🚗#ElectricVehicles #Memes pic.twitter.com/BWkoU3T09D
— eTukTuk (@eTukTukio) January 7, 2024
Buy And Stake $TUK For 187% Annual Rewards
You can buy and stake $TUK tokens and earn an impressive 187% annual percentage yield (APY).
Introducing Buy and Stake mechanism, get $TUK tokens and instantly stake them, initiating a dynamic APY.
Early stakers enjoy higher returns as APY adjusts with participation, encouraging early adoption and a fair, enticing incentive structure for all. 💫 pic.twitter.com/pMrXEZzB3f
— eTukTuk (@eTukTukio) October 10, 2023
Additionally, you can earn rewards through the platform’s play-to-earn game, which will launch soon. The game, Crazy Taxi, will allow you to earn token rewards by ferrying passengers to different locations in the busy streets of Sri Lanka.
According to crypto analyst and YouTuber Jacob Bury, eTukTuk has the potential to 10X on launch.
You still have time to buy $TUK tokens at a discounted price of $0.027 before the price goes up in less than nine days.
You can buy $TUK tokens today by visiting the official eTukTuk website. Swap BNB or USDT for $TUK tokens or buy directly using your bank card.
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