FIL at 0.794u, up nearly 14% in a day and hitting a new monthly high.
It bottomed at 0.63 on 8/19 and had barely moved for the past ten days. Today it suddenly took off. I couldn’t find any specific news today; it’s moving with the broader market.
One bit of background worth mentioning: a large token unlock is due in October, when early investors’ locked-up holdings are released. That amounts to nearly 20% of annual inflation, so there could be selling pressure then.
Chasing it at these levels isn’t ideal—it’s already risen quite a bit. A pullback to around 0.7 would be a steadier entry.
If it drops below 0.63, this rally is over. The upside target is 1.28, the six-month high from early May.#FIL $FIL
It bottomed at 0.63 on 8/19 and had barely moved for the past ten days. Today it suddenly took off. I couldn’t find any specific news today; it’s moving with the broader market.
One bit of background worth mentioning: a large token unlock is due in October, when early investors’ locked-up holdings are released. That amounts to nearly 20% of annual inflation, so there could be selling pressure then.
Chasing it at these levels isn’t ideal—it’s already risen quite a bit. A pullback to around 0.7 would be a steadier entry.
If it drops below 0.63, this rally is over. The upside target is 1.28, the six-month high from early May.#FIL $FIL
