More Filecoin applications are coming on board for FVM users. DeFi is one of the most popular applications in the Filecoin chain, and FVM encourages developers to take advantage of user programmability to launch new applications on the Filecoin blockchain.
After launching in May 2021, Filet Finance, the company behind the FVM network, remains committed to bringing new decentralized, secure, and user-friendly experiences to Filecoin holders. Currently, the cumulative staking has exceeded 590,000 FIL. Overall, experts predict a bright future for the network.
At the time of writing this post, Filecoin is trading around $4.4, which has been in a downtrend. $5.3 will work as a resistance for the short term, and it will find support around $3, so we think you should wait for a few months and invest in FIL/USD around $3. Other technical indicators such as RSI is below 30, which is in an oversold zone, and candle sticks are forming in lower Bollinger Bands. Overall, the short-term sentiment is bearish.
Based on our algorithmic price prediction, the value of the FIL token will consolidate between $5 and $12 in 2023. In the next two years, it will consolidate around the same level with a maximum price of $16, but if you invest for the long term, it will cross $60 in 2030, so it is the right time to invest for the long term in Filecoin.
