Filecoin price surges to $34 from $29.7, after Coinbase listed its inbound transfers on its platform. The firm has announced on Monday, December 07, 2020, however, trading will start from Wednesday, December 09, 2020. While announcing this, the firm has also specified that they will be adding more assets to the platform, in the future. All those assets that will be able to meet the standards of the exchange, will be added to the platform in the coming months and years.
4-Hour Uptrend Established as Filecoin Price Surges
Coinbase has also announced that Filecoin will be having four different trading pairs while trading on the platform. These trading pairs include USD, BTC, GBP, and ERU. Before getting listed on Coinbase, Filecoin was trading at the downtrend at the 4-hour chart.
However, as soon as Coinbase announced the listing, the Filecoin price surges above the resistance level and reached $34. With such a great surge in price, Filecoin has managed to establish a 4-hour uptrend. Not only uptrend, but Filecoin has also regained all three moving averages and they have been turned into support levels.
The next Price Target Is at $35.31
According to recent predictions, the next price target for bull has been set to $35.31. The token has managed to gain this high on November 25, 2020. Even though the token is showing some extremely bullish outlook, there is a need to be a little careful. The reason being that RSI is at the level of overextension, which has been shown on the 4-hour chart. It is not only Filecoin that is showing this bullish outlook as different cryptocurrencies are on the same track. Bitcoin, the largest cryptocurrency, is at the highly bullish chart and is looking to reach higher. After getting listed on Coinbase, there are huge chances that Filecoin will be able to reach its all-time high because it is more visible to the customers.