Key takeaways:
- The current filecoin price is trading at $3.54 and our Filecoin price prediction suggests an average market price of $6.38 by the end of 2024.
- By 2030, FIL might touch $27.03 following increased institutional adoption.
The crypto industry has been consistently introducing innovative and groundbreaking projects. Among these, Filecoin (FIL) has captured attention with its unique features, particularly its decentralized file storage system and impressive growth metrics. This has firmly positioned it within the industry.
Following its significant success in 2021, where it achieved substantial returns, investors’ interest in FIL is growing. If you’re considering investing in FIL but are uncertain about its future outlook and long-term potential, we’ve got you covered! Here, we comprehensively analyze FIL’s price forecasts for 2024 and beyond.
Overview
| Cryptocurrency | Filecoin |
| Token | FIL |
| Price | $3.54 |
| Market Cap | $2,088,396,086 |
| Trading Volume | $152,478,383 |
| Circulating Supply | 590,238,089 FIL |
| All-time High | $237.24 on Apr 01, 2021 |
| All-time Low | $1.83 on Aug 29, 2019 |
| 24 High | $3.68 |
| 24 Low | $3.52 |
Filecoin price prediction: Technical analysis
| Metric | Value |
| Price Prediction | $ 9.72 (167.28%) |
| Volatility | 6.71% |
| 50-Day SMA | $ 3.72 |
| 14-Day RSI | 41.78 |
| Sentiment | Bearish |
| Fear & Greed Index | 42 (Fear) |
| Green Days | 18/30 (60%) |
| 200-Day SMA | $ 5.43 |
FIL price analysis
Filecoin price analysis 1-day chart analysis
On October 02, the 1-day chart for Filecoin (FIL/USD) shows a current price of $3.49, reflecting a decline of 1.94%. The candlesticks indicate a recent bearish trend, with the price dropping below the middle Bollinger Band ($3.76), signaling potential further downside. The RSI is at 40.83, moving towards oversold territory, suggesting weakening momentum. Filecoin has support near $3.30, which could hold as a key level. Resistance lies around $3.76 and $4.22, per the Bollinger Bands. A break below $3.30 may trigger more sell pressure, while a recovery above $3.76 could signal reversal potential.
Filecoin price analysis 4-hour chart analysis
The 4-hour chart for Filecoin (FIL/USD) indicates a current price of $3.486, down by 3.68%. The chart reflects a bearish momentum, with the Balance of Power (BoP) at -0.78, highlighting the dominance of sellers. The MACD shows a bearish crossover, with the MACD line at -0.094 below the signal line at -0.126, confirming downward momentum. The price recently broke below $3.50, with immediate support seen at $3.48. Resistance stands around $3.65. The negative sentiment suggests further downside pressure unless there is a reversal in the short-term momentum.
Filecoin technical indicators: Levels and action
Daily simple moving average (SMA)
| Period | Value | Action |
| SMA 3 | $ 3.73 | SELL |
| SMA 5 | $ 3.86 | SELL |
| SMA 10 | $ 3.93 | SELL |
| SMA 21 | $ 3.83 | SELL |
| SMA 50 | $ 3.72 | SELL |
| SMA 100 | $ 3.96 | SELL |
| SMA 200 | $ 5.43 | SELL |
Daily exponential moving average (EMA)
| Period | Value | Action |
| EMA 3 | $ 3.77 | SELL |
| EMA 5 | $ 3.72 | SELL |
| EMA 10 | $ 3.68 | SELL |
| EMA 21 | $ 3.74 | SELL |
| EMA 50 | $ 4.03 | SELL |
| EMA 100 | $ 4.58 | SELL |
| EMA 200 | $ 5.16 | SELL |
Filecoin technical analysis: Conclusion
Based on both the 1-day and 4-hour charts for Filecoin (FIL/USD), bearish momentum is dominant. On the 1-day chart, the price hovers around $3.49, with the RSI nearing oversold territory at 40.83. This indicates potential downside unless buying pressure increases. On the 4-hour chart, the MACD remains bearish, with a negative crossover, and the Balance of Power (BoP) at -0.78, highlighting strong seller activity. Support near $3.30 could offer some relief, but a further breakdown below this level may accelerate losses. Any upward reversal would need to break resistance at $3.76 to regain bullish sentiment.
Is Filecoin a good investment?
Filecoin’s value proposition lies in its utility as a decentralized storage network, which could see increased demand with the growth of data storage needs and decentralization trends. Its investment potential is subject to the usual risks of cryptocurrency volatility, market sentiment, and regulatory changes. Long-term viability would depend on adoption rates, technological robustness, and the competitive landscape. Investors should weigh these factors and perform due diligence, considering the technology’s fundamentals and market dynamics, before making investment decisions.
Why is FIL down?
Filecoin’s cryptocurrency is currently down, trading at $3.54, due to a combination of factors, including market volatility. Additionally, investor sentiment has been affected by broader trends in the crypto market, leading to decreased demand and lower trading volumes for FIL
Does Filecoin have a future?
Filecoin’s future appears promising due to its unique position in decentralized data storage, addressing growing demand for secure alternatives to traditional cloud services. Analysts predict potential price increases, with estimates suggesting it could reach $27 by 2030, contingent on market conditions and adoption rates
Can Filecoin reach $50?
Based on our current price predictions, Filecoin is unlikely to reach $50 by 2030. The projected high for 2030 stands at $27.03. Achieving $ 50 would require significant market or technological developments beyond current trends, making it an optimistic expectation.
Is it worth investing in Filecoin?
Investing in Filecoin may be worthwhile due to its innovative approach to decentralized data storage, which meets growing demand in the tech sector. However, potential investors should consider market volatility and conduct thorough research, as price predictions vary widely, reflecting both optimism and caution among analysts
Is Filecoin safe?
Filecoin is generally considered safe due to its decentralized storage model and robust security protocols, including cryptographic proofs for data integrity. However, like all cryptocurrencies, it carries inherent risks related to market volatility and regulatory scrutiny that investors should consider before participating.
Is Filecoin built on Ethereum?
Filecoin is not built on Ethereum; it operates on its own blockchain. However, it has integrated with Ethereum to enhance functionality, enabling smart contracts and facilitating interactions between the two ecosystems. This collaboration allows developers to leverage both platforms for decentralized storage and applications
Recent news / Opinions on Filecoin
The Filecoin community is excited to launch @FILRetroPGF Round 2, a grants initiative to reward impactful contributions made to the Filecoin ecosystem.
Filecoin price prediction October 2024
According to experts, Filecoin’s market price in October is predicted to remain stable at $3.61. Nonetheless, due to the speculative nature of the market, traders can expect variations in trading prices across the month.
| Filecoin price prediction | Potential Low | Potential Average | Potential High |
| Filecoin price prediction October 2024 | $3.61 | $3.61 | $3.61 |
Filecoin price prediction 2024
The Market price for FIL is expected to reach a Maximum price of $7.64 by the fourth quarter of 2024. However, traders can expect a minimum trading price of $3.03, with an average price of $6.38.
| Filecoin price prediction | Potential Low | Potential Average | Potential High |
| Filecoin price prediction 2024 | $3.03 | $6.38 | $7.64 |
Filecoin price forecast 2025 – 2030
| Filecoin Price Prediction | Potential Low ($) | Potential Average ($) | Potential High ($) |
| 2025 | $7.74 | $8.82 | $9.33 |
| 2026 | $10.65 | $12.59 | $13.05 |
| 2027 | $13.90 | $15.95 | $16.41 |
| 2028 | $13.90 | $15.95 | $16.41 |
| 2029 | $17.16 | $18.92 | $19.84 |
| 2030 | $24.39 | $26.36 | $27.03 |
Filecoin price prediction 2025
The Filecoin forecast for 2025 suggests a price range of $7.74 to $9.33, with an average fil price of $8.82.
Filecoin price prediction 2026
In 2026, FIL’s Average price is expected to be $12.59. its minimum and maximum trading prices are predicted to be $10.65 to $13.05, respectively.
Filecoin (FIL) price prediction 2027
The price for Filecoin is predicted to reach a maximum value of $16.41 in 2027. On the lower end, FIL is expected to trade at $13.90, with an average of $15.95.
Filecoin price prediction 2028
Traders can expect an average trading price of $15.95, with a minimum and maximum prices of $13.90 and $16.41, respectively in 2028
Filecoin price prediction 2029
For 2029, the price prediction for FIL is expected to be around a minimum value of $17.16, with an average value of $18.92. Nonetheless, FIL is expected to trade at a Maximum value of $19.84.
Filecoin (FIL) price prediction 2030
In 2030, FIL’s average forecast price could be $26.36. Its minimum and maximum trading price is expected to be $24.39 and $27.03, respectively.
Filecoin market price prediction: Analysts’ Filecoin price forecast
| Firm Name | 2024 | 2025 |
| CoinCodex | $9.72 | $17.25 |
| Priceprediction.net | $ 4.57 | $7.09 |
| Changelly | $4.27 | $9.97 |
Cryptopolitan’s Filecoin(FIL) price prediction
The Filecoin (FIL) market promises significant growth due to continuous improvements and strategic collaborations. According to Cryptopolitan projections, the price of FIL could reach a maximum of $7.64 by the fourth quarter of 2024. However, traders should also be aware of potential market volatility and increasing competition, which could reduce the price to a minimum of $3.03. The average trading price for FIL is expected to hover around $6.38, indicating both optimistic market trends and the risks of potential declines.
Filecoin historic price sentiment
- Filecoin (FIL) started trading in December 2017, a short period after conducting its ICO. Trading started long before the Filecoin mainnet was released.
- Between December 2017 and May 2020, FIL traded below $30. Then, starting mid-May, the Filecoin price started rising, and the bull trend continued until 01st April 2021, when it hit its highest price of $237.24.
- After hitting its all-time high in mid-May 2021, Filecoin took a bearish turn, which continued until mid-July when the market turned bullish again.
- Filecoin (FIL) experienced notable price fluctuations between 2022 and 2023. Starting 2022 at a higher value, FIL’s price declined amidst the broader crypto market downturn.
- The price fluctuated throughout 2022, influenced by market sentiment, technological developments, and broader economic conditions.
- Entering 2023, Filecoin (FIL) exhibited a dynamic price trajectory. The year commenced with FIL at $3 in January, experiencing a gradual ascent amid market fluctuations. By mid-year, it surged slightly to $4.32.
- At the beginning of January 2024, Filecoin prices varied, starting the year at $7.65 and peaking at $7.18 the following day. There was a significant drop in the subsequent days, with prices dipping to a low of $5.83 on January 14th.
- Throughout the following months, the price of Filecoin generally trended downward, from the highs of early January to more moderate levels. By March, the prices showed more stability, fluctuating between $5.60 and $6.15.
- Filecoin (FIL) began April with a high of $6.58, experienced a mid-month low of $5.14, and closed around $6.14 towards the end of the month.
- May 2024: The price opened at $6.03, dipped to a low of $5.42 by mid-May, and stabilized around this lower value by May 13th, indicating continued volatility.
- June 2024: FIL is trading between $4.18 – $6.73.
- On July 30, Filecoin price traded at $4.33, but it dropped to $3.57 by August 31, showing a decrease over the month despite a marginal increase in 24 hours trading volume of $95.24 million.
- On September 28, FIL traded at $4.13.
- On October 02, the price of FIL traded at $3.50 with $157.63M volume.
