Filecoin (FIL) has experienced a significant rally, surging over 61%, reaching $2.16 as bullish sentiment drives market activity. Trading volume has exploded by over 745%, reflecting strong investor interest. While Bitcoin and Ethereum are attempting to recover past highs, Filecoin’s growth stands out as a key player in the recent crypto surge. 4-hour technical charts show that MACD and signal lines indicate an overall bullish trend. The rising market capitalization of $1.55 billion and skyrocketing daily trading volume ($1.34 billion) further amplify this momentum. Notable, the Coinglass data indicates a significant liquidation of FIL worth $8.45 million in the past 24 hours. Analysts are optimistic about Filecoin’s potential for continued growth but question whether the current bullish momentum will be sustained. If the price gains continue, it may test resistance levels around $2.26 and potentially trigger a ‘golden cross’ scenario. However, the bears could emerge to challenge this ascent, with a possible retracement towards support at $2.06 or even lower. The strong buy pressure indicated by CMF (at 0.20) supports the bullish outlook but remains vigilant about potential pullbacks and corrections as evidenced by the RSI (82.12) approaching overbought levels. A slight reversal could expose the bears, leading to a sharp price decrease.