• BitMEX founder expects Filecoin to achieve $100 on the again of the AI ​​growth.
• FIL is overbought, indicating a potential retracement under $7.
• If FIL falls sharply to $5.43, it may rebound even tougher to $19.33.

BitMEX co-founder Arthur Hayes posted that the worth of Filecoin (FIL) may attain $100. Based on Hayes' submit on X, the rationale behind it lies within the budding of his AI story in a bull market.

Filecoin has the fundamentals of decentralized storage and capitalizes on the current elevated curiosity in AI tokens. On the time of writing, CoinMarketCap confirmed that FIL was top-of-the-line performing cryptocurrencies over the previous 24 hours.

FIL/USD 4 hour worth evaluation

FIL rose 11.78% up to now 24 hours. Nonetheless, indicators from the 4-hour chart indicated that the cryptocurrency could also be shedding its bullish momentum. On the time of writing, the worth of FIL was $8.17.

Furthermore, the relative energy index confirmed that the measured worth decreased to 64.92. This decline suggests that purchasing momentum has slowed and FIL could not attain $9 within the close to time period.

This was additionally evident from the sign proven by the Bollinger Bands (BB). BB confirmed excessive volatility, however the higher band tapped his FIL round $8. This means that FIL is overbought, leading to a worth retrace.

In a really bearish situation, the token may attain $6.96 resulting from revenue taking. Nonetheless, if the bulls proceed to push the worth larger, FIL may attain $10 inside the subsequent few days.

FIL/USD 4-hour chart (Supply: TradingView)

FIL/USD Every day Worth Evaluation

On the day by day timeframe, the Cash Circulation Index (MFI) was above 80.00, reinforcing the view that the token is overbought. This enhance was additionally proof of heavy capital inflows that contributed to the worth enhance.

If issues proceed as they’re, capital inflows to FIL could decline. On this case, the worth could reverse within the quick time period. The goal worth of the cryptocurrency on this case might be between $6.45 and $7.50.

Nonetheless, the Fibonacci retracement indicator confirmed that FIL may prolong its good points in the long run. For instance, the 0.618 Fib stage was $6.77. If FIL falls to this stage after which rebounds, the worth may rise to $17.19.

If FIL plummets to $5.43, the 4.236 Fib stage indicated {that a} rebound may grow to be much more troublesome. On this case, FIL's worth may bounce to $19.33 within the medium to long run.

FIL/USD day by day chart (Supply: TradingView)

As for the $100 prediction, it appears potential. Nonetheless, this may require a big influx of liquidity and shopping for strain from the market.

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