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First-ever Decentralized Wallet for Filecoin Ecosystem: Introducing Fox Wallet

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Fox Wallet releases pioneering endpoint to Web3 for Filecoin miners and FIL holders.

Fox Wallet is an all-in-one solution for cryptocurrency storage and exchange designed for the users of various blockchains. At the same time, its primary focus is to provide the Filecoin (FIL) ecosystem and community with a reliable wallet for digital assets.

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Despite being the only mainstream endpoint to Interplanetary File System (IPFS), Filecoin (FIL) still lacks a user-friendly infrastructure that is able to boost its massive adoption. Developed by a clutch of high-profile blockchain engineers, Fox Wallet attempts to solve this inconvenience.

Fox Wallet is 100% decentralized and noncustodial: it sends the keys of this or that account to the user’s browser and avoids storing it on a centralized platform. Its team adheres to a “one-stop” approach to funds management across different blockchains, so different coins are displayed via a single interface.

At the same time, easy-to-use backup tools will not let crypto newbies lose their key and forget the mnemonics that are necessary to restore the account on a third-party device in case of emergency.

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Besides storage and sending crypto assets, Fox Wallet is tailored for data monitoring. It seamlessly integrates the Filfox Explorer, a browser of the Filecoin ecosystem.

As such, Fox Wallet can track all crucial metrics of Filecoin blockchain, including but not limited to the volume of effective storage of the entire network, rewards per block, output statistics, new computing power pledge cost, gas price dynamics and so on.

End-user apps for smartphones are on the way to marketplaces

That said, Fox Wallet established itself as a viable and convenient solution for Filecoin miners. It allows users to easily manage miners’ information, to search for the miner by this or that piece of data, etc.

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Its toolkit boasts a notification service: it will send an alert to the owner if the balance becomes insufficient or computing power drops. Also, Filecoin (FIL) network participants can send requests for funds withdrawal events or about sector termination.

On Nov. 15, the FoxWallet application will be uploaded to the App Store and Google Play simultaneously. The team is planning to have both apps listed starting from 12:00 a.m. UTC.

To keep its community informed about the product’s progress and the latest updates, the Fox Wallet team launched its official Telegram and Twitter accounts.

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Filecoin Price Analysis: FIL/USD is bullish for the next 24 hours

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  • Filecoin price analysis is bullish today.
  • FIL/USD saw bearish momentum return overnight.
  • $55 support tested again.

The Filecoin price analysis is presently bullish, anticipating that bears will be exhausted following a powerful rejection for downside yesterday. As a result, a higher low was formed, implying that the FIL/USD pair may move higher; bulls should be able to push prices higher as a result, as the market should approach the psychologically significant $50.00 price point.

The Filecoin marketplace continues its steady climb towards new peaks, although there was a slight dip towards a descending channel resistance, which was met with strong purchasing interest yesterday. This resulted in a bounce from this level to continue an uptrend that has been ongoing since late last week. A new high for the month is yet to be seen as early August, indicating that momentum will remain strong.

The daily chart demonstrates how the Filecoin market is currently testing the $52.00 resistance point, having already achieved a new high for the year at $49.87 earlier this week. Further gains may be possible as price activity above this mark would indicate that bears are exhausted, and bullish momentum remains intact.

On the other hand, it would be unwise to enter a position right now as there is still bearish pressure within the market. $55 should hold for the time being, and it should ideally provide support should any losses occur after long positions have been established. If this level fails, we may see several days of declines on the lower end, possibly retesting the support at $48.

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For now, we should be patient and let buyers and sellers play out their games before we make any bullish or bearish bets for this market. We will look to short-term charts and higher timeframes for more actionable trading opportunities soon.

FIL/USD 4-hour chart: FIL ready to reverse?

The $55 support level on the 4-hour chart has remained sturdy, suggesting that this will be a significant barrier. The market may now attempt to break past it over the next 24 hours.

Filecoin Price Analysis: FIL/USD is bullish for the next 24 hours 1FIL/USD 4-hour chart. Source: TradingView

The Filecoin price appreciated significantly on November 1. On November 2, a retest of the swing high took place after peaking at $66 on October 31.

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Following a swing high at $70, the FIL/USD pair fell below its previous low and recovered. Despite this, the decline was only brief, as the pair swiftly retraced to form a higher low near $58 before unleashing another strong push toward $69. Filecoin was subsequently driven back up to around $59 by an abrupt reversal of positions.

On the hourly chart, Filecoin is presently trading at $62. The following significant resistance is near $70, with support around $57 and $55. On both timeframes, both price levels are crucial. Price has created a fresh swing high of $67 in the last 24 hours, reaching an intraday high on November 3 at $67.

The next few hours will be crucial for Filecoin, with the market testing swing highs and lows to determine whether it may advance further or if bears will take control. We anticipate bulls to triumph since the MACD is in favor of a rise.

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Filecoin Price Analysis: Conclusion 

Following a stunning sell-off yesterday, the Filecoin price is bullish since bears have run out of steam. As a result, FIL/USD will most likely reverse following today’s retreat.

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Filecoin Price Analysis: FIL still holds above $55, swift reversal to follow?

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  • Filecoin price analysis is bullish today.
  • FIL/USD saw bearish momentum return overnight.
  • $55 support tested again.

Filecoin price analysis is bullish today as we expect bears to be exhausted after a strong rejection for downside yesterday. Therefore, FIL/USD is likely will start moving higher after a higher low is set.

Filecoin Price Analysis: FIL still holds above $55, swift reversal to follow? 1
Cryptocurrency heat map. Source: Coin360

The cryptocurrency market traded in the red over the last 24 hours. Bitcoin lost 1.8 percent, while Ethereum 2.91 percent. Meanwhile, Avalanche (AVAX) is the top performer, with a gain of over 13 percent.

Filecoin price movement in the last 24 hours: Filecoin slowly tests downside again, the $55 support still holds

FIL/USD traded in a range of $54.38 – $57.61, indicating a moderate amount of volatility over the last 24 hours. Trading volume has declined by 36.62 percent, totaling $839.37 billion, while the total market cap trades around $6.8 billion, ranking the coin in 28th place overall.

FIL/USD 4-hour chart: FIL ready to reverse?

On the 4-hour chart, we can see the $55 mark still holding, likely offering enough support to reverse the market higher over the next 24 hours.

Filecoin Price Analysis: FIL still holds above $55, reversal to follow?
FIL/USD 4-hour chart. Source: TradingView

Filecoin price saw a strong advance over the first days of November. After initially reaching $66 at the end of October, a retest of the swing high followed on the 2nd of November.

From there, FIL/USD retraced to set a higher low at $58 before making another strong push higher, this time to the $69 mark. Another sharp reversal followed, leading Filecoin to $59 in a couple of hours.

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After a slight recovery, Filecoin price action consolidated above $61 for several days until more downside followed yesterday. FIL spiked to $52 this time, with a reaction higher to $57 seen the same day.

Since then, FIL/USD has slowly moved lower again, testing the $55 mark, which could reverse Filecoin higher as bears are likely exhausted.

Filecoin Price Analysis: Conclusion 

Filecoin price analysis is bullish today as bears are exhausted after a sharp rejection for downside yesterday. Therefore, FIL/USD is expected to reverse after the current slow retracement.

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While waiting for Filecoin to move further, read our guides on eToro vs Coinbase, How to mine Filecoin Classic, and Filecoin vs Cardano.

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Filecoin Price Analysis: FIL breaking above $66, ready to finally set a higher high?

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  • Filecoin price analysis is bullish today.
  • FIL/USD rallied higher over the last 24 hours.
  • Resistance at $66 broken.

Filecoin price analysis is bullish today as the $66 previous high currently gets broken after a slight rejection this morning. Likely we will see FIL/USD continue heading higher after a strong higher low set last week.

Filecoin Price Analysis: FIL breaking above $66,  ready to finally set a higher high? 1
Cryptocurrency heat map. Source: Coin360

The cryptocurrency market traded mostly with bullish momentum over the last 24 hours. Bitcoin gained 3.72 percent, while Ethereum 1.85 percent. Meanwhile, Litecoin (LTC) is the top performer from the major altcoins, with a gain of over 23 percent.

Filecoin price movement in the last 24 hours: Filecoin moves to $66, breaks out after a brief rejection at first

FIL/USD traded in a range of $62.36 – $66.88, indicating strong volatility over the last 24 hours. Trading volume has increased by 67.17 percent and totals $879.8 million, while the total market cap trades around $8.1 billion, ranking the coin in 30th place overall.

FIL/USD 4-hour chart: FIl looks to break above $66

On the 4-hour chart, we can see strong buying pressure at the moment as the $66 resistance can not hold anymore.

Filecoin Price Analysis: FIL breaking above $66,  ready to finally set a higher high?
FIL/USD 4-hour chart. Source: TradingView

Filecoin price action has seen a steady decline over the past weeks. After peaking at $81 as the last major swing high, more downside followed. 

By the end of October, support at $55 was briefly broken, with a spike to $52. However, a quick recovery followed, leading FIL/USD back towards previous highs around $66.

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From there, the Filecoin price action set a strong higher low at $58 after a quick spike lower on the 6th of November. Since then, FIL/USD has steadily advanced back to the $66 mark. After a slight rejection earlier today, bulls finally breached the resistance over the past hours, indicating more upside should follow today.

Filecoin Price Analysis: Conclusion 

Filecoin price analysis is bullish today as the $66 resistance has been broken after a brief rejection at first. Therefore, FIL/USD will likely continue higher late today and set an even stronger higher high.

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