Filecoin price analysis: FIL rises to $5.37 once more, correction ahead?

Given that the price of Filecoin has significantly increased today as well, the most recent Filecoin price analysis shows indications of a bullish trend. Since the selling pressure appeared to be much more above the current price level, FIL has been in correction for the last three days.

Timeline of Filecoin

Filecoin price analysis shows bears taking control over the past 24 hours, as price fell almost 3 percent to move as low as $5.19. With today's decline, FIL fell down from its month-long high of $5.76.

Filecoin's [FIL] performance over the last few days was commendable on the price front. CoinMarketCap's data revealed that in one day, FIL registered over 13% gains, which was higher than several other cryptos with a larger market capitalization.

The Interplanetary File System (IPFS) is going to be deployed in orbit, according to a groundbreaking project revealed by the Filecoin Foundation, the organization in charge of overseeing the Filecoin network. The LM 400 Technology Demonstrator spacecraft from Lockheed Martin will carry out the mission in 2023.

Filecoin Foundation will deploy IPFS aboard a Lockheed Martin spacecraft this year to test decentralized storage in space. The post Filecoin Foundation set to test IPFS-based communication in space appeared first on The Block.

A top crypto trader says he thinks three under-the-radar altcoins including decentralized exchange ThorChain (RUNE) are gearing up for strong surges. Starting with decentralized storage network Filecoin (FIL), the crypto analyst believes that there's no resistance for the altcoin until it hits $5.80. “I think FIL is going to pull the same move COMP did.

OKX will delist Filecoin (FIL) and Chainlink (LINK) futures contracts before the end of 2022 due to “harsh market conditions.” OKX will remove futures trading options for FIL/USDT and LINK/USDT at 7:00 am and 8:00 am UTC on Dec.

The five altcoins that decreased the most in the crypto market last week are XCN, TWT, FIL, LDO and CHZ The post Chain (XCN), Trust Wallet Token (TWT), and Filecoin (FIL), Lead The Crypto Market Altcoin Rout appeared first on BeInCrypto.

Filecoin (FIL) is a cryptocurrency that powers the Filecoin network, a decentralized peer-to-peer file storage network that aims to allow anyone to store, retrieve, and host digital information. FIL tokens are used as payment for these services as well as a financial incentive to guarantee that files are consistently stored over time.

The core CPI data from the US Labor Department last week saw a move upward to $18k for Bitcoin, but those gains were quickly wiped out. Stock market indices such as S&P 500 posted losses last week and were likely to continue trending lower this week.

The latest Filecoin price analysis is showing signs of an upward trend as the price has undergone a significant improvement in the last 24-hours. The bullish upswing has resulted in a remarkable improvement in the price as its value has upgraded to $4.38.