This week has been challenging for the cryptocurrency market. Bitcoin (BTC) initially dropped sharply to $92,000 on December 17 and then began trading above $96,000. Key altcoins like Filecoin (FIL) and Internet Computer (ICP) also followed, trading close to critical support levels.
Bitcoin Situation
Bitcoin is experiencing significant price fluctuations. After dropping to $92,000, it managed to rise and is now trading above $96,000, sparking interest in its future price movements.
Filecoin Technical Analysis
According to @JohncyCrypto, Filecoin is testing its broken descending triangle pattern on the weekly chart, indicating a potential rebound. Targets for such a move are $8.30, $11.80, and $28.00.
Internet Computer Analysis
Internet Computer has found support around the $10 level. As per forecasts, a breakout above $11.50 might signal a bullish scenario with targets of $13.75, $15.50, and $18.80.
Both tokens, Filecoin and Internet Computer, are at critical support levels with a possible rebound. However, the overall market sentiment remains mixed, and the trajectory of these altcoins heavily depends on Bitcoin's behavior. Traders should remain cautious and attentive to market conditions.
