Filecoin (FIL) Price Must Clear This Key Level to Resume Uptrend

The Filecoin (FIL) price could soon break out from a crucial resistance level, accelerating the rate of increase in the process. FIL is the native token of the Filecoin network, which offers decentralized storage services. The FIL price has decreased below a long-term descending resistance line since March 2021, when it had reached an all-time high of $237.73. The downward movement led to a low of $2.37 in December 2022. Afterward, the price began a bullish reversal that is still ongoing.  While the FIL price was rejected by the resistance line (red icon), it still trades above the $5.55 horizontal