Filecoin Price Outlook: Can FIL Surge 100% in March? 🚀📈

Filecoin, which is now among the top 20 cryptocurrencies with a market capitalization of $5.274 billion, has recently shown promising signs of bullish momentum, ranking as the 22nd largest crypto asset. The current bullish trend suggests a possible change in the price trajectory of FIL, generating optimism among investors.

Having surpassed the $10 mark, Filecoin appears poised for further gains as bullish sentiment strengthens. As the market continues its upward trend, the question arises: how high can FIL go? Dive into our FIL price prediction to learn.

The FIL's change of fortune

A recent rounded bottom reversal signals the end of Filecoin's prolonged sideways movement during the crypto winter. With the overall market heating up, the start of the next altcoin season fuels a resurgence in Filecoin value.

Priced at $10.11, Filecoin has broken through the 23.60% Fibonacci level, reaching a high of $10.90. Despite a small intraday drop of 3.76%, which serves as a retest of the psychological threshold of $10, the coin is pointing to a solid recovery, indicating a reversal of the uptrend on the weekly chart.

Key technical indicators

The daily RSI line enters overbought territory, reflecting a notable increase in demand along with the price jump.

Can FIL reach $20?

With a steady growth of 29% over the past fortnights and a series of bullish engulfing candles on the weekly chart, Filecoin's momentum remains strong. Furthermore, a substantial 71% increase in trading volume reinforces the bullish case for a continued upward move.

Optimistically, Filecoin could target the 78.60% Fibonacci level at $20