The Filecoin price prediction may lack short-term and medium-term support, but if the price rises above the channel, the coin may face the upside.
Filecoin Prediction Statistics Data:
Filecoin price now – $4.11
Filecoin market cap – $2.42 billion
Filecoin circulating supply – 588.9 million
Filecoin total supply – 1.9 billion
Filecoin Coinmarketcap ranking – #39
Investing early in crypto projects can lead to significant returns, as seen with Filecoin (FIL), which has surged by 127.29% since its all-time low of $1.83 in August 2019. However, the token has also experienced sharp volatility, having dropped -98.25% from its all-time high of $237.24 in April 2021. Currently trading between $4.03 and $4.22, the token’s price history highlights both the potential gains and risks of the crypto market.
FIL/USD Market
Key Levels:
Resistance levels: $5.20, $5.40, $5.60
Support levels: $3.20, $3.00, $2.80
FILUSD – Daily Chart
FIL/USD has shown significant bullish potential recently, breaking out of key technical patterns on the daily chart. The cryptocurrency has been in a long-term downtrend, but it has now broken out of a descending channel on the daily time frame, which is a strong signal of a potential trend reversal. This breakout indicates that bearish pressure has eased, opening the door for further upward movement.
Filecoin Price Analysis: Filecoin (FIL) May Go Bullish
As revealed by the daily chart, Filecoin is showing strong technical signs of a bullish reversal. With both short-term and long-term breakouts in play, the cryptocurrency has the potential for significant price gains, though key resistance levels need to be watched closely. Meanwhile, if the bears step back into the market, any strong selling pressure may drag the price toward the lower boundary of the channel.
However, the Filecoin market keeps rebounding from the daily low of $4.02, any bearish movement below the daily low could lead the coin to a serious downtrend toward the lower boundary of the channel. The support levels for the coin may be located at $3.20, $3.00, and $2.80, while the resistance levels lie at $5.20, $5.40, and $5.60 respectively.
FIL/BTC Keeps Ranging
Against Bitcoin, the Filecoin price is heading to the downside as the bears return to the market. The resistance is set at 650 SAT because the market price remains above the 9-day and 21-day moving averages. Technically, the price may spike to the north as the 9-day MA crosses above the 21-day MA.
FILBTC – Daily Chart
However, if the Filecoin price slides below the moving averages, FIL/BTC may likely hit the support level at 560 SAT and below. Moreover, any bullish cross above the upper boundary of the channel may allow the market to form a new upward trend and could reach the potential resistance at 700 SAT and above.
Nevertheless, @AlexSoul09 updated his followers on X (formerly Twitter), reflecting on his previous $FIL analysis, which is unfolding exactly as anticipated. He emphasized that this is just the start of a massive wave – get ready.
Zooming out on my last $FIL post, and it’s playing out beautifully as predicted. This is just the beginning of a tsunami wave—buckle up! 🌊🚀 #Filecoin #Crypto #Bullish pic.twitter.com/JLtMgwpyJX
— Future Trader (@AlexSoul09) September 24, 2024
Alternatives to Filecoin
Filecoin (FIL) is showing early signs of bullish momentum after breaking out of a long-term downtrend on the daily chart, with a short-term price target of $4.20. However, it must first overcome a critical resistance zone between $4.30 and $4.50. If it successfully breaks through this barrier, further gains could be on the horizon, with a longer-term target around the $5.00 mark. On the other hand, Pepe Unchained, a meme coin currently in its presale phase, offers investors the potential for significant profits due to programmed price increases leading up to its official launch. With the presale raising over $15.7 million so far, the project has garnered strong investor confidence and growing interest within its community, as reflected in its robust social media presence.
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