Filecoin is a decentralized storage network that turns cloud storage into an algorithmic market. The market runs on a blockchain with a native protocol token (also called"Filecoin"), which miners earn by providing storage to clients.
The Network consensus is achieved using the Expected Consensus (EC) algorithm, a probabilistic Byzantine fault-tolerant consensus protocol. It uses Proof-of-Storage and Proof-of-Spacetime.
Transaction per second- 30 tps
Block time- 30 seconds
FILUSD performed well in the past two weeks.
Any daily close above $10 confirms further bullishness.
FILUSD gained more than 60% in the past two weeks. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $8 and is currently trading around $7.56.
The bullish invalidation can happen if the pair closes below $4.50. On the lower side, the near-term support is $6.80. Any break below targets $6/$5/$4.50.
The immediate resistance stands at around $8. Any breach above confirms bullish continuation. A jump to $10 is possible. A surge past $10 will take it to $20/$28.
It is good to buy on dips around $6.80 with SL around $5 for TP of $15/$20.
