• Filecoin prices are hyperbolic in the case of scarce trading volume.

• Everyone is worried about the application of the platform.

Although the effect risk of Filecoin continues to rise, its price still rose to the highest value since December 16. It rose to the highest point of $3.31, far higher than the bottom of $2.3 so far this year. Other dynamic passwords, such asAlawa coinsStorj also bounced back.

Filecoin utility test

Document currencyIt is the world's largest storage blockchain technology platform. Like other storage platforms, its use cases are easy to grasp. Unlike centralized storage platforms such as Google Cloud and Windows Azure, it applies blockchain technology to storage platforms.

All people with electronic computers, smart machines or data cores can store them on their platforms, and then receive rewards when they use them. This data is quickly stored in his network in a highly encrypted file format.

The advantage of applying the blockchain technology platform lies in its high scalability. For the person in Nairobi, he will browse the data from the storage service provider there. Similarly, for people in Washington, the United States, he will store and browse his data from some people in the city.

According to its data computer browser, 19.069 EiB will be given to 3920 active miners on the platform. This is a very large data, exceeding 21.9 million TB.

Even so, Filecoin still faces many key tests. First of all, the Internet has already competed with well-known brands such as Microsoft and Google. This centralized platform operates well and has a long safety record.

Second, it is very obvious that it has a very large volume and is difficult to apply. One of its biggest use cases is the active partnership with OpenSea to store non bacterial dynamic passwords (NFT). However, in the near future, NFT turnover has dropped sharply every month. Therefore, without a clear use case, Filecoin must be a miracle to become a successful platform.

Filecoin price forecast

FILLUSD data chart by TradingView

The k-line chart of the stock market shows that the FIL price rose sharply on Tuesday, and investors bought this token. When the relative strength index (RSI) moves to the overbought level, the index value is slightly higher than the 25 day and 50 day moving average systems. It also forms a head and shoulders design that looks like it's upside down.

Therefore, although there is an H&S approach, Filecoin is likely to repair the bullish development trend as the stock fundamentals disappoint. A rise of $3.50 in frictional resistance would invalidate the bullish view.

How to purchase Filecoin

Binance

Binance is one of the world's largest cryptocurrency exchanges. It is more suitable for more experienced investors, and provides a lot of digital currency options, more than 600. Binance is also famous for its low transaction fees and various trading options from which users can profit, such as:; Equivalence trading, margin trading and spot market.

Buy FIL with Binance today

Coinbase

Coinbase is a worldwide cryptocurrency exchange. Its platform is customized for novices. It brings a wide variety of coins, with more than 100 kinds of coins for selection. The Coinbase platform is embedded with a high level of safety factor, has a series of different functions available, and provides consumers with the option of storing digital currency, for example, coins can also be stored in the Coinbase exchange.

Then use Coinbase to purchase FILDisclaimer Agreement