Filecoin Upgrade on Ethereum Spurs FIL Rally — Could FIL Push Beyond $8 on Renewed Developer Momentum?

The latest upgrade involving Filecoin on the Ethereum blockchain has caught the attention of the crypto world. This development has sparked a notable rally in the value of Filecoin (FIL).

The question now is whether this surge in developer activity could drive FIL beyond the $8 mark. The article explores which other coins might follow this upward trend.

Filecoin Gains Traction: Eyeing Key Resistance Levels Ahead Source: tradingview Filecoin (FIL) is currently trading between $2. 25 and $2.

50. It's inching closer to its nearest resistance at a bit over $2.

50. If it manages to break through, it could test the next resistance at almost $3.

00. This would mean a potential rise of over 15%.

With its recent weekly gain of almost 10%, momentum may be building. Yet, with a current RSI just above 40, it's neither too strong nor weak.

This signals a balanced but cautious market interest. If support holds steady around $2.

00, Filecoin could have room to advance, drawing attention from investors. Conclusion Filecoin’s recent upgrade has reignited confidence, signaling that developer activity may be the key driver behind its next phase of growth.

While short-term resistance levels could pose challenges, the broader outlook suggests upside potential if momentum holds steady. Should FIL secure a strong breakout, traders may start eyeing $8 as the next significant milestone.

In a market driven by innovation and adoption, Filecoin’s progress on Ethereum underscores its ability to stay relevant and attractive to both developers and investors. Disclaimer: This article is provided for informational purposes only.

It is not offered or intended to be used as legal, tax, investment, financial, or other advice.