Filecoin and theta prices have stayed in the dust lately. The FIL and THETA prices have increased by only 6% and 2% respectively in the last 7 days. And while currencies like Dogecoin and Ripple have risen more than 50% and 25% respectively in the past 24 hours, the two have risen less than 2%.
What happened: Theta and Filecoin are relatively similar companies. The two want to decentralize two huge industries that are now dominated by large corporations like Microsoft and Alphabet.
Theta creates a decentralized video sharing platform. The idea is not to replace YouTube. Instead, it wants to make it easier for people to create decentralized video platforms by sharing bandwidth.
Filecoin, on the other hand, aims to decentralize the data storage industry by allowing people to share their unused bandwidth. Today the industry is dominated by companies like Dropbox, Box, Microsoft and Google. People who share their data can then be paid with the digital tokens.
Theta and Filecoin prices have risen lately as people have taken on the role of decentralized solutions and services. In fact, the two have more than doubled this year and are now the 14th and 16th largest digital platforms in the world. However, over the past week, the two lagged as investors focused on other coins such as Bitcoin, Ripple and ETH.
Filecoin price prediction
Filecoin price trades at $ 163.60, which is slightly below the all-time high of $ 237. It trades between the support and resistance levels at $ 134 and $ 188. As a result, the Average True Range (ATR) fell to its lowest level on March 30th. This is a sign that its volatility has decreased significantly. Therefore, in the short term, I suspect that the price will stay at the current level and then break out in both directions.
Theta price prediction
The four-hour chart shows that the theta price is also in a consolidation mode. A symmetrical triangle pattern has formed while the Average True Range (ATR) has also decreased. As the symmetrical triangle approaches its confluence, we should therefore expect a breakout in both directions as well.
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