Loading...

Filecoin price prediction 2024-2030: What’s the future for FIL?

Key takeaways

  • Filecoin price faces heavy selling pressure, experiencing bearish sentiment in the short term.
  • Our Filecoin price prediction suggests an average market price of $5.65 by the end of 2024.
  • By 2030, FIL might touch $42.22 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, alongside its impressive growth metrics. This has firmly positioned it within the industry. Following its significant success in 2021, where it achieved substantial returns, there’s a growing interest among investors in FIL. 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 present a comprehensive analysis of FIL’s price forecasts for 2024 and beyond.

Overview

CryptocurrencyFilecoin
TokenFIL
Price$5.61
Market Cap$3,093,968,162
Trading Volume$ 80,908,712.6530
Circulating Supply551,091,728.0000
All-time High$237.24
All-time Low$1.83
24 High$ 5.9750
24 Low$ 5.6910

Filecoin price prediction: Technical analysis

MetricValue
Price Prediction$ 18.54
Volatility6.48%
50-Day SMA$ 7.28
50-Day RSI37.82
SentimentBearish
Fear & Greed Index56 (Greed)
Green Days14/30 (47%)
200-Day SMA$ 6.26

Filecoin price analysis

FIL price analysis: FIL value recedes below $4.296 amidst a slump

TL;DR Breakdown

  • Filecoin price analysis confirms a downtrend.
  • Coin value has dropped to a low of $4.296.
  • Support is being provided on the $3.919 end.

The daily and hourly Filecoin price analysis for January 23, 2024, indicates signs of a decreasing trend. The bears remained on the dominant end in the past few weeks, considering the aggravating selling pressure throughout. In the past 24 hours, a further rise in sales activity was observed. The downtrend has devalued the cryptocurrency to $4.298. A further decline in coin value is to be expected pertaining to cryptocurrency’s progression.

Filecoin price analysis 1-day chart: Bearish pressure leads to losses below the $4.298 border

The daily Filecoin price analysis confirms a highly bearish scenario regarding the ongoing market events. The bearish momentum remained on the intense side considering the rising selling activity. In the past 24 hours, the coin value has depreciated to $4.298, which is low considering the downtrend. Similarly, the moving average (MA) indicator shows declining changes in its volatility. Its overall value has deteriorated past $4.627, considering the overall bearish scenario in these weeks.

FIL/USD 1-day price chart. Source: TradingView

If we discuss the volatility in the one-day price chart, then it seems to be on the increasing side. The rising volatility is suggestive of an upcoming bearish turn. The upper and lower values of the Bollinger bands indicator have switched their positions as well. Currently, the upper Bollinger band is available on $6.604 margins, indicating strong resistance. Whereby the lower Bollinger band is occupying the $3.919 end, marking strong support. The Relative Strength Index (RSI) indicator confirms the rising bearish pressure. Its overall value has dropped to 28.03, i.e., below the oversold threshold, which creates an alarming situation for the investors.

Filecoin price analysis 4-hour chart: The bearish rally causes further detriment below $4.296

The hourly Filecoin price analysis is suggestive of a strong downward swing. The bears have been leading the market since the early part of the day. That is because of the strong selling activity, which is aggravating with every passing hour. The overall value of the cryptocurrency has thus dropped to $4.296 as a result of the strong bearish swing. Whereas, the moving average indicator displays a steep bearish slope as well. The indicator’s value has declined to $4.389 as a result of the constant bearish turmoil. 

FIL/USD 4-hour price chart. Source: TradingView

The four-hour price chart dictates a decreasing shift in volatility. This change in volatility signals an upcoming upward swing for the cryptocurrency. If we talk about the Bollinger bands indicator, then its upper value is present at $4.478. Whereas, the lower extreme of the Bollinger bands indicator is currently situated at $4.311, for now. The RSI indicator confirms the recent changes in the coin value. Its value has decreased to 35.40 as a consequence of the persistent bearish progress.

Filecoin technical indicators: Levels and action

Daily simple moving average (SMA)

PeriodValueAction
SMA 3$ 5.99SELL
SMA 5$ 5.87SELL
SMA 10$ 5.95SELL
SMA 21$ 5.98SELL
SMA 50$ 7.28SELL
SMA 100$ 7.52SELL
SMA 200$ 6.26SELL

Daily exponential moving average (EMA)

PeriodValueAction
EMA 3$ 5.99SELL
EMA 5$ 6.00SELL
EMA 10$ 6.00SELL
EMA 21$ 6.26SELL
EMA 50$ 6.96SELL
EMA 100$ 7.05SELL
EMA 200$ 6.50SELL

Filecoin technical analysis: Conclusion

The daily as well as hourly Filecoin price analysis confirms a bearish swing for the cryptocurrency. In the past few weeks, the bearish progress has remained quite steady because of the intense selling pressure. Today, the coin value has been reduced to $4.296 once again, and further loss seems possible. On the other side, the four-hour price analysis presents a similar scenario, as a downturn was recorded in the last few hours of the day.

Recent news/opinion on Filecoin

  • Network Upgrade and Technical Enhancements: Filecoin has successfully integrated with Solana to store the blockchain’s historical data, highlighting a strategic collaboration aimed at leveraging Filecoin’s decentralized storage capabilities for enhancing blockchain data accessibility​.
  • Expansions in Decentralized Storage Solutions: Filecoin’s ecosystem has seen the introduction of new decentralized storage solutions, such as the integration with Swan Multi-Chain Storage. This integration allows for a more seamless user experience in uploading, storing, and retrieving data across the Filecoin network without requiring deep technical expertise. Such collaborations enhance Filecoin’s utility by offering cross-chain compatibility and improved security through distributed storage architecture​.

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 both the technology’s fundamentals and market dynamics, before making investment decisions.

Filecoin price prediction June 2024

Filecoin could experience an uptrend by the end of June, surpassing $5. The minimum price projected for the coin is around $4.95. On average, traders and investors can expect FIL to trade at a maximum price of $5.92.

Filecoin price predictionPotential LowPotential AveragePotential High
Filecoin price prediction June 2024$4.95$5.02$5.65

Filecoin price prediction 2024

The price of FIL is predicted to reach a minimum value of $5.01 by Q4 of 2024. Traders can anticipate a maximum value of $12.41 and an average trading price of $12.11.

Filecoin price predictionPotential LowPotential AveragePotential High
Filecoin price prediction 2024$5.01$12.11$12.41

Filecoin price prediction 2025 – 2030

YearMinimum PriceAverage PriceMaximum Price
2025$12.09$13.77$14.58
2026$16.63$19.67$20.39
2027$21.71$24.92$25.64
2028$21.71$24.92$25.64
2029$26.80$29.55$31.00
2030$38.10$41.18$42.22

Filecoin price prediction 2025

In 2025, FIL’s average price could be about $13.77. Its minimum and maximum prices can be expected at $12.09 and $14.58, respectively.

Filecoin price prediction 2026

The Filecoin forecast for 2026 suggests a price range of $16.63 to $20.39 and an average FIL rate of $19.67.

Filecoin (FIL) price prediction 2027

As per FIL’s Price Prediction 2027, the coin’s price could reach a maximum and minimum price of $25.64 and $21.71, respectively, with a year-round average of $24.92.

Filecoin price prediction 2028

The price of Filecoin is predicted to reach a minimum value of $21.71 in 2028. Traders can expect a maximum value of $25.64 and an average trading price of $24.92.

Filecoin price prediction 2029

In 2029, FIL’s average forecast price could be about $29.55. Its minimum and maximum prices can be expected at $26.80 and $31.00, respectively.

Filecoin (FIL) price prediction 2030

In 2030, the price of FIL is forecasted to be around a minimum value of $38.10, maximum value of $42.22, and an average trading value of $41.18.

Filecoin market price prediction: Analysts’ FIL price forecast

Firm Name20242025
Wallet Investor$8.851$11.165
Priceprediction.net$7.06$8.16
  • CoinCodex predicts the price of FIL could reach a high of $26.00 and a low of $5.56 by 2025.
  • Cryptopredictions.com predicts the price of FIL could reach a high of $16.7 and a low of $11.35 by 2025.

Cryptopolitan’s Filecoin(FIL) price prediction

Continuous improvements and collaborations are expected to increase the value of Filecoin (FIL) significantly. Cryptopolitan projections suggest that the price of FIL could soar to $12.41 by the close of 2024, buoyed by optimistic market trends. However, potential market volatility and growing competition could negatively impact its value. Consequently, there’s a possibility that the price might experience a decline in the near future, potentially dropping to as low as $5.01.

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 factors such as 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 a bit 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.

FAQs

Where can I buy Filecoin (FIL)?

You can buy Filecoin on Coinbase, Binance, Kraken, and Huobi Global.

Where can I safely store Filecoin?

You can safely store Filecoin on your Math wallet. If you are already running your own lotus node, you can also manage FIL wallets from the command line. Filecoin provides support for some of the wallets enumerated here..

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Share link:

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

sui
Cryptopolitan
Subscribe to CryptoPolitan