Filecoin (FIL) to $100? Exchange Founder Gives His ‘Two Cents’

• BitMEX founder expects Filecoin to hit $100 on the back of the AI boom.
• FIL was overbought, suggesting a possible retracement below $7.
• If FIL nosedives to $5.43, a harder rebound to $19.33 could be possible.

Arthur Hayes, the co-founder of BitMex posted that Filecoin (FIL) price could hit $100. According to Hayes’ post on X, the reason behind this is the budding AI narrative in the bull market.

With its decentralized storage fundamentals, Filecoin has been capitalizing on the growing attention AI tokens have had in recent times.  At press time, CoinMarketCap showed that FIL has been one of the best-performing cryptocurrencies in the last 24 hours.

FIL/USD 4-Hour Price Analysis

FIL has gained 11.78% in the last 24 hours. However, indications from the 4-hour chart showed that the cryptocurrency could be losing hold of the bullish momentum. At press time, FIL’s price was $8.17.

Furthermore, indications from the Relative Strength Index showed that the reading had dropped to 64.92. The de…

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