Technical analysis by HaydenOtto about Symbol FIL: Buy recommendation (2/19/2024)

Filecoin just closed within the weekly cloud which signals an E2E trade entry. The conservative cloud target is $36, but could also hit the $63 area this year if it goes up fast. Price is currently consolidating within a multi-year symmetrical triangle, which I anticpate will soon come to an end. Upon breakout the measured move, based upon the fibonacci extension, would be about $16.Breakout from symmetrical triangle confirmed. Next stop $16.