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Filecoin (FIL) maintained an upside stance over the past month. It jumped 16% over the past day to $5.49. The alt gained over 30% and around 70% within the past week and 30 days, respectively.
Meanwhile, the altcoin seems poised for continued rallies following its latest breakout. A technical outlook shows FIL recently broke past a FIB golden pocket, signifying a price momentum shift. That highlights the possibility of significant price upticks from Filecoin.
Nevertheless, ecosystem developments and broad market influence remain vital for Filecoin’s future price trajectory. Analysts remain confident that the crypto industry is entering a new bull phase.
Michael van de Poppe trusts Bitcoin and alts have seen increased accumulation lately, and “we’re most likely not going to see the prices of 2-months ago back again. Perhaps even ever.”
His analysis supports a massive rally for digital assets. Filecoin will likely explode to its targeted highs upon broad-based surges.
Further, positive developments like Sushi launching a decentralized exchange on Filecoin contribute to the crypto’s bullish outlook.
Sushi attracted attention as it became the first DEX to integrate with Filecoin. The alliance will ensure more investment opportunities for users. Filecoin will enjoy more liquidity. Furthermore, the upcoming SushiXSwap cross-chain function will allow individuals to transact with over 30 blockchain platforms.
Also, the partnership will likely make Sushi user-friendly and more accessible, ensuring new investment opportunities for crypto enthusiasts.
Filecoin price forecast
FIL has the potential of continuing its uptrends towards the $10 mark. The project will possibly attract new players due to increased investment opportunities. Surged demand will propel Filecoin prices higher.
The post Filecoin (FIL)’s upside potential following Sushi DEX integration appeared first on Invezz