Filecoin eyes $6.77 as FIL breaks major resistance level: What’s ahead? – BitRss

• Filecoin surges past the $4.83 resistance level with a heavy liquidation pool of 283.74K.
• The Long/short Ratio and Funding Rate suggested a continuation of the bullish run.

Filecoin [FIL] has finally broken above the consolidation pattern that it has been confined to for months, a move considered by many analysts as a significant technical breakout. 

The altcoin’s price action is showing clear signs of decisively moving above the resistance level of $4.83, which has limited the upward movements since the 4th of July.

This breakout comes with substantial market validation, as evidenced by the recent price action, which reached $5.727 at press time.

The recent 20.07% surge since breaking past the resistance level in the past 48 hours indicates that the rally is far from over. The rally leaves the altcoin just 16% shy from the …