BTC price rises to $65,000, but short-term gains trigger weak declines. For crypto investors, the key point is maintaining closures above $65,000 in the short term. Meanwhile, some altcoins are showing positive divergence.
Filecoin (FIL)
One of the positively diverging altcoins is FIL Coin, announced by Grayscale. FIL Coin faced significant challenges with lawsuits and security accusations. However, Grayscale’s recent step helped its rise by categorizing it among AI-focused altcoins. Filecoin (FIL) reached $4.8 with its latest rise, hitting a 30-day high.
Grayscale launched a product with its Decentralized AI Fund, allowing collective investment in several cryptocurrencies, including FIL Coin. With the new Trust, investors can invest in a basket containing Filecoin (FIL), Near (NEAR), Render (RNDR), Livepeer (LPT), and Bittensor (TAO) in one go. This good news means an increase in FIL Coin reserves in Grayscale as the excitement in the AI and crypto space remains alive.
FIL Coin Price Prediction
After reaching $4.8 with the announcement, the price fell to $4.54 due to BTC fluctuations. Despite the decline, BTC is still fighting to reclaim $65,000. FIL Coin remains above EMA20, indicating a continued short-term upward trend. The upward trend persists, and there is no data flow or news expected to reverse it. However, crypto is always full of surprises.
RSI is above the neutral zone at 62, and investor demand is alive. The positive funding rate indicates that the bullish sentiment among futures investors continues. If the upward trend continues, $4.8 could be reclaimed soon, and new highs might be targeted above it.
What if things turn around? A new test at the $3.25 level is possible. However, this would require a new wave of selling, pushing altcoins to deeper lows, driven by BTC. ETH targeting the $3,500 level again could ease the pressure on altcoins.
