Filecoin Price at $59.89 after 6.6% Gains – How to Buy FIL

The crypto market is again trading in a green zone, and the bullish momentum has picked up again after a slight disruption during the week. The majority of altcoins are still making significant gains and creating new weekly highs. Filecoin is among the altcoins showing strong bullish signals.

Filecoin is trading at $59.89 at the time of writing after a 6.6% gain in 24 hours.

Filecoin Price Analysis

Source: Tradingview

Filecoin’s steady rise started in late July, as the rest of the market entered a bullish zone. Because of this market support, FIL has created new highs in August and is progressing to even higher ground.

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On the higher side, the resistance lies at $68 and $79. Stronger market support needs to kick in for FIL to reach these levels because shows dependence on this support for the uptrend. Buying support attributed to traders speculating an even stronger uptrend could also result in price gains.

On the lower side, the support lies at $54 and $48. If selloffs push the token to this low level, we could see it reenter the July lows of $40. Lack of market support at this level could erase most of the bullish gains made by FIL in recent months.

Filecoin’s demand and popularity in Australia are bound to increase because of the recent partnership between Gemini Exchange and Holon Global Investments, an asset management firm based in Sydney. Through the partnership, Holon will develop a fund that will give them exposure to the FIL cryptocurrency.

The asset management firm also wants to raise $25 million in three months to purchase FIL tokens for lending and collateral purposes. With this development, we could see FIL’s demand and value increase in the coming months.

Where to Buy Filecoin

To buy filecoin, you can create an account on the following exchanges:

  • eToro

eToro is a leading social trading platform that is highly recommended for traders who want to increase their chances of making profits. eToro supports a vast range of cryptocurrencies and trading pairs. Its trading fees are also friendly.

  • Coinbase Pro

You can buy filecoin from Coinbase Pro. This platform is known for supporting a wide range of small altcoins, hence making it ideal if you want to diversify your portfolio. Coinbase Pro is also available for use in different countries, and its trading features are also friendly.

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