Filecoin’s price has surged by 10.35% in the past 24 hours, contributing to a notable 22.82% increase over the week. This upward trend reflects growing investor confidence, especially as the Total Value Locked in Filecoin’s protocols nears 100 million USD. This indicates increased investor interest and potential for further price gains.

Traders on Binance and OKX are showing a strong bullish sentiment towards Filecoin, with Long-to-Short ratios of 2.72 and 2.64, respectively. This indicates a majority of traders expect further price increases. A 21.1% surge in Open Interest also signifies heightened market activity. Breaking the resistance level of 6.97 USD may push Filecoin to 16.79 USD.