Filecoin Navigates Chart Pattern, Potential Breakout Looms

Filecoin (FIL) is currently trading within a clear descending channel on the 4-hour chart. The price oscillates between strong resistance and support levels, showcasing persistent selling pressure since early July. While its market cap rebounded from $1.45B to $1.65B, suggesting renewed investor interest amidst declining trends. Traders are closely watching for a potential breakout that could shape FIL’s future trajectory.