Filecoin (FIL) Anticipates Significant Surge as Institutional Accumulation Increases

Potential Bullish Breakout: Filecoin (FIL) is forming a weekly descending wedge pattern, indicating a possible breakout above resistance, which could lead to a bullish cycle for long-term traders.

Short-Term Price Movement: FIL recently rallied from $2.00 to $4.00, showing strong buying momentum, and is currently consolidating between $3.10 and $3.50, with potential resistance at $4.00–$4.20.

Increased Whale Accumulation: Whale accumulation has risen over 32%, while exchange supply has decreased by 15%, indicating heightened demand and institutional interest in the market.

Market Activity Insights: Trading volume exceeded $1.4 billion, with significant participation from top wallets and institutions, suggesting strong investor interest and a stable trading range for FIL above $2.15.