The last 7 days or so have been quite brilliant for Filecoin (FIL) investors. The coin has surged but in the last few days, it looks like it has slowed. In the last 24 hours, the coin was largely trading sideways. But there are a lot of upsides. Here are some facts:

• A bull flag has appeared on the daily chart that suggests a strong uptrend

• FIL could surge past $32 or even higher in the near term.

• Filecoin has also crossed a major resistance zone over the last 24 hours.

Data Source: Tradingview 

Filecoin (FIL) – Is $32 likely?

The stagnation we saw in Filecoin’s price action appears to be nothing more than consolidation. In fact, during this period, the token managed to cross above $26. This means that the price is now above the crucial resistance zone of $25.9. It will be interesting to see if bulls can sustain this in the days ahead.

However, if we close today’s trading above $26, then FIL is headed for a major upswing. Besides, the bull flag that has appeared on the chart also suggests a strong uptrend. The coin could surge towards $32 before it encounters major resistance. 

If indeed bulls are able to push further above the $32 mark, it is likely that more gains will follow, with FIL hitting $40 in the long run. This will represent gains of nearly 60% from the current price.

Is it time to buy Filecoin (FIL)?

The simple answer is yes. However, it would be best to wait until the end of trading today to see if bulls can keep the $25.9 support. Right now, the price is slightly above that, but it’s consolidating.

If indeed we start tomorrow’s trading above $26, then FIL will be a great buy. You can expect it to hit at least $32 in a worst-case scenario or $40 in the best-case scenario.

Cardano’s Hard Fork Combinator [HFC] event will be taking place towards the end of August, as per the latest update provided by Founder Charles Hoskinson. In his latest vlog, Hoskinson provided the community with more updates and the timeline that can be expected for the HFC rollout.

Countdown to Alonzo has begun

During his previous interaction with the community, Hoskinson had pointed out several things that need to be worked on before launching the HFC. Although the team has acquired a fully functional node, Hoskinson claimed that the team is seeking its stability and are waiting for “everything to come together” for Version 1.4 of the node.

The team is also working on the Daedalus wallet integration and it is expected to be wrapped up by Thursday. With wallet integration reaching completion, the network will move forward with onboarding more exchanges. These exchanges, with the infrastructure providers, will provide feedback.

He noted,

“Based on the feedback the exchanges are giving and the other infrastructure people are giving-they come together for a consolidated opinion of what is the best date of delivery based on the upgrade time.”

On the basis of this feedback, the Cardano team will determine the date for the Hard fork combinator event.

Hoskinson added,

“Looks like everything is looking good. We are going to do a mid-month update and the mid-month update will announce the date of the HFC event.”

Contingency plans

This announcement will involve two different dates. One will provide the primary date for the HFC event, and the other, an Abort fallback date. The latter will be used to fix any issues that may arise from the deployment.

Since the HFC event has to be triggered five days in advance of the actual deployment, Hoskinson predicted this to be close to the end of August and the beginning of September. The tentative date for the Primary rollout of the HFC event could be between 31 August and 7 September, with the Abort fallback date following.

This HFC event is in line to enable smart contracts capabilities on the Cardano network. Thus, it is also the most-awaited update for the Cardano community.