This Popular Altcoin is Poised for a 1000% Jump to Hit $100 in 2024

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Written By Pinang Driod

The crypto markets entered a standstill position without displaying any major price action after the recent recovery. It indicates the tokens could be preparing for a healthy upswing and, hence, accumulating gains before the next upswing. Bitcoin is, however, maintaining a similar price action but this popular altcoin is expected to go long throughout 2024. 

Filecoin (FIL) has maintained its volatility since the 2022 bear market and displayed significant price variations, being indifferent to the other major altcoins. The volume also remained within a decent level that spiked enormously as the price rebounded from the lows around $3. The FIL price soared by nearly 280% but failed to soar beyond the first target, which attracted an inverse price action. 

Regardless of this, the altcoin appears to be extremely poised to surpass the higher targets. Moreover, the upcoming bull run is also expected to trigger a 10x rally to hit $100, as predicted by a popular analyst, Captain Faibik. 

The weekly price chart of Filecoin displays a breakout from the descending resistance, which has turned out to be a strong support in times of a retest. The FIL price appears to have triggered a healthy upswing after a retest, which suggests the bullish trajectory has come into action. Hence, the analyst believes the FIL price could maintain a healthy upswing for the rest of the year and eventually hit a three-digit figure before the end of the year.

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The FIL price holds its ATH above $237 during the 2021 bull run and from a longer perspective, the token continues to trade within a consolidation zone. To trigger a fine bull run, the price is required to surpass three major target areas at $11.46, $14.52 and $15.64. Rising above these levels may enable the token to encounter the major resistance zone between $17 and $20. Once the Filecoin price reaches and surpasses these levels, it suggests a rise above bearish influence. By this time, the markets could have turned optimistic, which may propel prices higher for the rest of the year.

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