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The post <a href="https://coinpedia.org/price-analysis/filecoin-within-pennant-eyes-breakout-rally-in-fil-price-to-10/">Filecoin Within Pennant Eyes Breakout Rally In FIL Price To $10&nbsp;</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
As the crypto market regains bullish momentum, the altcoins are planning a long-term trend reversal with increasing investors’ confidence. In this recovering market, the FIL price trend aims to overcome the bearish influence.&nbsp; 
With a positive cycle in Filecoin, will the bullish trend in the FIL price surpass the overhead resistance to reach $10? As the buyers resurface, is it the best time to buy the Filecoin before the breakout? Read our <a href="https://coinpedia.org/price-prediction/dogecoin-price-analysis/">FIL price prediction</a> NOW to find out.&nbsp; 
<h2 class="wp-block-heading" id="h-buyers-challenge-the-deathcross">Buyers Challenge The Deathcross</h2> 
With a $3.37 billion market cap, the Filecoin price trend has been sideways over the past few weeks. The contracting volatility and the sideways shift after a 50% bearish fall led to a bearish pennant pattern.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXc16HdpstGcm6kj46aI6VmUvZ82CdzyHrkPlr69do3lvZZmaG90SwOaEcI__XuSllPvzxGvC7iw5xDvnden3wb8uMztxdkriUz9i8YXjSguerKeyDe-CsoIx8ZSKAuwXUhEbbKE1NTNTLUqTbRID8obmWi0?key=dAGpq1Dg1OBdu0X47wUpIw" alt="">
</figure> 
<a href="https://www.tradingview.com/x/SfYCb2t0/">Tradingview</a> 
Currently, the FIL price shows a bullish comeback in the pennant pattern, teasing a breakout rally for a trend reversal. The overnight jump challenges the overhead resistance trendline and the 50D EMA. 
Currently, the FIL price trades at $6.026 following the 6.80% jump within 48 hours. However, the intraday pullback of 0.89% warns of a bearish reversal from the trendline.&nbsp; 
Technical Indicators: 
RSI: The daily RSI line shows a bullish divergence and crosses above the halfway line.&nbsp; 
EMA: The death cross in the 50D and 200D EMA leads to a bearish trajectory and acts as the dynamic resistance.&nbsp; 
<h2 class="wp-block-heading" id="h-will-the-fil-price-cross-10">Will The FIL Price Cross $10?</h2> 
As per the Fibonacci levels, the FIL price shows an upside move ready to challenge the 61.80% level. With the broader market recovery, the Filecoin bulls anticipate a breakout rally in the coming days. 
With a breakout, the Filecoin token price could reach the 50% Fibonacci level at the $7.331 mark, with a potential 21% jump. Optimistically, the uptrend could reach the 23.60% Fib level at $9.524. Conversely, a dump under the support trendline could test the $5 mark.&nbsp;

Filecoin Within Pennant Eyes Breakout Rally In FIL Price To $10

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