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11 months ago
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ARTICLE AD BOX
- Bullish FIL price prediction for 2024 is $8.148 to $11.502.
- Filecoin (FIL) price might reach $15 soon.
- Bearish (FIL) price prediction for 2024 is $4.393.
In this Filecoin (FIL) price prediction 2024, 2025-2030, we will analyze the price patterns of FIL by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
TABLE OF CONTENTS |
INTRODUCTION |
|
FILECOIN (FIL) PRICE PREDICTION 2024 |
|
| FILECOIN (FIL) PRICE PREDICTION 2024, 2025, 2026-2030 |
| CONCLUSION |
| FAQ |
Filecoin (FIL) Current Market Status
| Current Price | $7.32 | 24 – Hour Price Change | 5.24% down |
| 24 – Hour Trading Volume | $693,736,666 |
| Market Cap | />$3,593,075,473 |
| Circulating Supply | 490,708,271 FIL | All – Time High | $236.84 (On April 01, 2021) |
| All – Time Low | $1.83 (On Aug 03, 2019) |
What is Filecoin (FIL)
| TICKER | FIL |
| BLOCKCHAIN | Filecoin |
| CATEGORY | Decentralized Storage Network |
| LAUNCHED ON | July 2014 |
| UTILITIES | Governance, security, gas fees & rewards |
Filecoin (FIL) is the native cryptocurrency of the Filecoin blockchain. Filecoin is an open-source, decentralized storage protocol that exists on top of the InterPlanetary File System (IPFS). Filecoin (FIL) was launched in an ICO in 2017 whereas the Filecoin mainnet went live in October 2020. Filecoin was developed by Protocol Labs.
Filecoin enables users to store any size of data on multiple hack-proof storage providers or devices. It serves as a better alternative to the existing cloud storage providers such as Dropbox, Google Drive, and Amazon S3. Filecoin deploys proof-of-replication (PoRep) and proof-of-spacetime (PoSt) consensus mechanisms to secure the blockchain.
Miners use these consensus models to verify the data that is being stored on the blockchain. They require only GPUs, CPUs, and hard drives for mining. Filecoin nodes act as storage nodes. Filecoin (FIL) is given out as mining rewards and also as rewards to users for renting out the space for storage.
Filecoin 24H Technicals
(Source: TradingView)
Filecoin (FIL) Price Prediction 2024
Filecoin (FIL) ranks 31st on CoinMarketCap in terms of its market capitalization. The overview of the Filecoin price prediction for 2024 is explained below with a daily time frame.
FIL/USDT Horizontal Channel Pattern (Source: TradingView)
In the above chart, Filecoin (FIL) laid out a horizontal channel pattern. Horizontal channel also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, line which connects the lows, run horizontally parallel and the price action is contained within it.
A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation.
At the time of analysis, the price of Filecoin (FIL) was recorded at $7.32. If the pattern continues, the price of FIL might reach the resistance levels of $9.659, and $31.743. If the trend reverses, then the price of FIL may fall to $5.380, and $2.939.
Filecoin (FIL) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Filecoin (FIL) in 2024.
FIL/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Filecoin (FIL) for 2024.
| Resistance Level 1 | $8.148 |
| Resistance Level 2 | $11.502 |
| Support Level 1 | $6.329 |
| Support Level 2 | $4.393 |
FIL Resistance & Support Levels
Filecoin (FIL) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Filecoin (FIL) are shown in the chart below.
FIL/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Filecoin (FIL) market in 2024.
| INDICATOR | PURPOSE | READING | INFERENCE |
| 50-Day Moving Average (50MA) | Nature of the current trend by comparing the average price over 50 days | 50 MA = $5.186Price = $7.595 (50MA< Price) | Bullish(Uptrend) |
| Relative Strength Index (RSI) | Magnitude of price change;Analyzing oversold & overbought conditions | 77.533 <30 = Oversold 50-70 = Neutral>70 = Overbought | Overbought |
| Relative Volume (RVOL) | Asset’s trading volume in relation to its recent average volumes | Below cutoff line | Weak Volume |
Filecoin (FIL) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of Filecoin (FIL) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
FIL/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Filecoin (FIL).
| INDICATOR | PURPOSE | READING | INFERENCE |
| Average Directional Index (ADX) | Strength of the trend momentum | 37.749 | Strong Trend |
| Relative Volatility Index (RVI) | Volatility over a specific period | 87.28 <50 = Low >50 = High | High Volatility |
Comparison of FIL with BTC, ETH
Let us now compare the price movements of Filecoin (FIL) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs FIL Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of FIL is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of FIL also increases or decreases respectively.
Filecoin (FIL) Price Prediction 2025, 2026 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Filecoin (FIL) between 2025, 2026, 2027, 2028, 2029, and 2030.
| Year | Bullish Price | Bearish Price |
| Filecoin (FIL) Price Prediction 2025 | $25 | $3.5 |
| Filecoin (FIL) Price Prediction 2026 | $30 | $3 |
| Filecoin (FIL) Price Prediction 2027 | $35 | $2.5 |
| Filecoin (FIL) Price Prediction 2028 | $40 | $2 |
| Filecoin (FIL) Price Prediction 2029 | $45 | $1.5 |
| Filecoin (FIL) Price Prediction 2030 | $50 | $1 |
Conclusion
If Filecoin (FIL) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Filecoin (FIL) price prediction for 2024 is $11.502. Comparatively, the bearish Filecoin (FIL) price prediction for 2024 is $4.393
If there is a positive elevation in the market momentum and investors’ sentiment, then Filecoin (FIL) might hit $15. Furthermore, with future upgrades and advancements in the Filecoin ecosystem, FIL might surpass its current all-time high (ATH) of $236.84 and mark its
FAQ
1. What is Filecoin (FIL)?
Filecoin (FIL) is the native cryptocurrency of the Filecoin blockchain. Filecoin is an open-source, decentralized storage protocol that exists on top of the InterPlanetary File System (IPFS).
2. Where can you buy Filecoin (FIL)?
Traders can trade Filecoin (FIL) on the following cryptocurrency exchanges such as Binance, OKX, Bybit, DigiFinex, and Cointr Pro.
3. Will Filecoin (FIL) record a new ATH soon?
With the ongoing developments and upgrades within the Filecoin platform, Filecoin (FIL) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Filecoin (FIL)?
Filecoin (FIL) hit its current all-time high (ATH) of $236.84 on April 01, 2021.
5. What is the lowest price of Filecoin (FIL)?
According to CoinMarketCap, FIL hit its all-time low (ATL) of $1.83 on Aug 03, 2019.
6. Will Filecoin (FIL) hit $15?
If Filecoin (FIL) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $15 soon.
7. What will be the Filecoin (FIL) price by 2025?
Filecoin (FIL) price might reach $25 by 2025.
8. What will be the Filecoin (FIL) price by 2026?
Filecoin (FIL) price might reach $30 by 2026.
9. What will be the Filecoin (FIL) price by 2027?
Filecoin (FIL) price might reach $35 by 2027.
10. What will be the Filecoin (FIL) price by 2028?
Filecoin (FIL) price might reach $40 by 2028.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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