FIL price looks bullish and momentum supported by volume and open interest

FIL price was trading at $1.17 with an intraday gain of 10%. Its 24-hour trading volume has increased by 200% which indicates traders’ interest in this coin is high. Open interest (OI) has increased by 13% to $102.023M and funding rate has turned positive (+0.0036%) which shows that longs are dominating. This data suggests that it could remain bullish further but OI can play a crucial role here. If OI starts falling, profit booking can be observed. Filecoin (FIL) price has been rising by forming new higher highs. FIL price has departed from the higher low and is heading for a higher high. If the trading volume and OI supports the momentum, the price could surge by 20% to form a new higher high.