FIL price rises after Upbit lists the altcoin —bullish or just a temporary spike?
Filecoin (FIL) Surges 10% After Upbit Listing — New All-Time Low Averted
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Key Takeaways
Filecoin’s price avoided hitting a new low following its listing announcement on South Korea’s binance exchange.
Trading volume soared from $124 million to over $300 million, a sign of rising market interest.
FIL’s market value may consolidate between $2.75 and $3.45 unless volume and momentum improve.
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Filecoin’s (FIL) price has surged by 10% today following Upbit’s announcement that it will list the cryptocurrency. This uptick comes 24 days after FIL hit an all-time low of $2.48.
Before the listing, Filecoin’s price hovered around $2.70, with indicators showing signs that it could slide lower. However, that did not happen.
But the question is: Will FIL continue to climb and avoid retesting another all-time low? Let’s find out in this analysis.
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Filecoin Volume Spikes
According to South Korea’s leading cryptocurrency exchange, FIL, will be listed with a Korean Won (KRW) trading pair only. Trading is scheduled to begin at 4:30 PM local time.
Following the development, Filecoin’s trading volume surged from $124 million to over $300 million, indicating renewed interest in the altcoin. The surge in volume aligns with previous binance listings.
For instance, on previous occasions, CCN had reported how the volume skyrocketed after the exchange listed Compound (COMP).