Key takeaways:
- Filecoin is currently trading at $5.57, and our forecast suggests an average market price of $7.24 by the end of 2024.
- By 2027, the price is projected to reach $15.32
- By 2030, FIL may reach $25.23, supported by increased institutional adoption.
Filecoin is a decentralized storage network designed to securely and efficiently store humanity’s most important information. Launched by Protocol Labs in October 2020, it utilizes blockchain technology to create a peer-to-peer digital storage marketplace. Users can rent unused hard drive space to earn Filecoin tokens (FIL), the network’s native cryptocurrency.
The system operates on a proof-of-replication and proof-of-spacetime consensus mechanism, ensuring that data is reliably stored over time and that storage providers hold the exact copies they claim. This approach incentivizes a robust and distributed network of storage providers, enhancing data retrieval speeds and security compared to traditional centralized servers.
Filecoin aims to reduce the costs of storage services by leveraging the global surplus of storage capacity. As part of the broader Web3 ecosystem, it supports decentralized applications (dApps) and services that require secure, decentralized data storage solutions, which significantly advance decentralized internet infrastructure.
Overview
| Cryptocurrency | Filecoin |
| Token | FIL |
| Price | $5.57 |
| Market Cap | $3.35B |
| Trading Volume | $804.13M |
| Circulating Supply | 602.11M FIL |
| All-time High | $237.24 on Apr 01, 2021 |
| All-time Low | $1.83 on Aug 29, 2019 |
| 24 High | $5.85 |
| 24 Low | $5.23 |
Filecoin price prediction: Technical analysis
| Metric | Value |
| Price Prediction | $ 5.58 (-2.45%) |
| Volatility | 13.63% |
| 50-Day SMA | $ 3.89 |
| 14-Day RSI | 72.21 |
| Sentiment | Bullish |
| Fear & Greed Index | 82 (Extreme Greed) |
| Green Days | 19/30 (63%) |
| 200-Day SMA | $ 4.59 |
FIL price analysis
Filecoin price analysis 1-day chart analysis
On November 25, the 1-day Filecoin (FIL) chart shows a decline from $5.735 to $5.572 (-2.77%). The Bollinger Bands indicate significant volatility, with the upper band at $5.867 and the lower band at $3.338. FIL recently crossed above the midline at $4.450, suggesting bullish momentum earlier in the trend. The RSI stands at 62.15, down from an overbought peak of 69.52, indicating cooling buying pressure but still in the overbought zone. Price retracement from the recent high ($6.500) suggests a potential consolidation phase near the mid-band. FIL must hold above $5.500 to avoid further bearish action toward $5.00.
Filecoin price analysis 4-hour chart analysis
The 4-hour Filecoin (FIL) chart displays a price decline of 2.48%, falling from $5.722 to $5.584. Recent volatility touched a high of $5.806 and a low of $5.370, indicating active market movement. The Balance of Power (BoP) indicator shows bearish momentum at -0.32, reflecting weak buying pressure. Meanwhile, the MACD shows a bearish crossover with the MACD line at -0.008 below the signal line at 0.267, alongside waning histogram strength. Immediate resistance lies at $5.800, while support is $5.500. FIL needs strong bullish volume to reclaim upward momentum; otherwise, further declines are likely.
Filecoin technical indicators: Levels and action
Daily simple moving average (SMA)
| Period | Value | Action |
| SMA 3 | $ 4.85 | BUY |
| SMA 5 | $ 4.75 | BUY |
| SMA 10 | $ 4.55 | BUY |
| SMA 21 | $ 4.28 | BUY |
| SMA 50 | $ 3.89 | BUY |
| SMA 100 | $ 3.80 | BUY |
| SMA 200 | $ 4.59 | BUY |
Daily exponential moving average (EMA)
| Period | Value | Action |
| EMA 3 | $ 4.23 | BUY |
| EMA 5 | $ 4.05 | BUY |
| EMA 10 | $ 3.88 | BUY |
| EMA 21 | $ 3.79 | BUY |
| EMA 50 | $ 3.77 | BUY |
| EMA 100 | $ 3.99 | BUY |
| EMA 200 | $ 4.52 | BUY |
Filecoin technical analysis: Conclusion
Based on both the 1-day and 4-hour Filecoin charts, the price appears to be entering a consolidation phase after a recent bullish rally. The RSI in the daily chart remains above 60, suggesting sustained bullish sentiment, but the cooling momentum indicates potential sideways movement. The 4-hour chart highlights a bearish MACD crossover and negative Balance of Power (-0.32), suggesting short-term selling pressure. Support at $5.5 is critical to prevent further decline, while resistance at $5.8 could limit upward moves. If bulls regain momentum, FIL could challenge $6. Otherwise, a breakdown could target $5.3 in the near term.
Is Filecoin a good investment?
Filecoin is a decentralized storage network aiming to revolutionize data storage. Its investment potential depends on market adoption and competition. Like all cryptocurrencies, it carries significant risks due to volatility. Investors should carefully research and assess their risk tolerance before considering investment.
Why is FIL down?
Filecoin’s decline may be due to market volatility, decreased demand for decentralized storage, increased competition, or broader crypto market downturns. Regulatory changes and negative investor sentiment can also negatively impact its price.
Does Filecoin have a future?
Filecoin’s future appears promising due to its unique position in decentralized data storage, addressing the growing demand for secure alternatives to traditional cloud services. Analysts predict potential price increases, with estimates suggesting it could reach $25 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 $27.23. 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 employs cryptographic security for its decentralized storage network and rebust security protocols, including a cryptographic proof for data integrity, but it is not without risks. Potential issues include market volatility, regulatory uncertainty, and technical vulnerabilities. Users should thoroughly research and exercise caution when using or investing in Filecoin.
Is Filecoin built on Ethereum?
Filecoin is not built on Ethereum; it operates on its 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
Filecoin and IPFS push boundaries as space becomes the new arena for resilient data tech!
Filecoin partners with Bagel Network to elevate AI reasoning, pushing towards LLMs that think smarter!
Filecoin price prediction November 2024
According to experts, Filecoin’s market price in November is predicted to remain stable at $3.37. 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 November 2024 | $3.37 | $3.37 | $3.37 |
Filecoin FIL price forecast 2024
In 2024, Filecoin’s price prediction showcases a steady range, with the minimum price set at $2.99. Experts project an average trading price of $7.24 for the year, while the anticipated peak value could reach $7.42, reflecting a modest growth trajectory.
| Filecoin price prediction | Potential Low | Potential Average | Potential High |
| Filecoin price prediction 2024 | $2.99 | $7.24 | $7.42 |
Filecoin price forecast 2025 – 2030
| Filecoin Price Prediction | Potential Low ($) | Potential Average ($) | Potential High ($) |
| 2025 | $7.23 | $8.23 | $8.71 |
| 2026 | $9.94 | $11.76 | $12.19 |
| 2027 | $12.97 | $14.89 | $15.32 |
| 2028 | $12.97 | $14.89 | $15.32 |
| 2029 | $16.02 | $17.66 | $18.53 |
| 2030 | $22.77 | $24.61 | $25.23 |
Filecoin price prediction 2025
For 2025, Filecoin’s market dynamics are expected to strengthen, with the minimum price forecasted at $7.23. The average price prediction stands at $8.23, while the maximum price may reach up to $8.71, indicating an optimistic trend in the crypto’s valuation
Filecoin price prediction 2026
In 2026, Filecoin’s price projection reflects a continued upward momentum. The minimum FIL price is expected to rise to $9.94, with an average of $11.76 throughout the year. The maximum price could potentially reach $12.19, marking a notable increase from the previous year.
Filecoin (FIL) price prediction 2027
Looking ahead to 2027, Filecoin’s minimum price prediction stands at $12.97, showcasing consistent growth. Analysts forecast an average trading price of $14.89, with a potential peak at $15.32, suggesting growing market confidence in Filecoin’s value proposition.
Filecoin price prediction 2028
In 2028, Filecoin is projected to maintain its minimum price of $12.97, mirroring the previous year’s floor. The average price is also set to remain steady at $14.89, while the maximum price prediction remains at $15.32, indicating market stability.
Filecoin price prediction 2029
For 2029, Filecoin’s anticipated minimum price rises to $16.02, indicating substantial price appreciation. The average price for the year could reach $17.66, with a maximum forecasted price of $18.53, showcasing increasing investor interest and potential returns.
Filecoin (FIL) price prediction 2030
Filecoin prediction by 2030, is projected to have a minimum price of $22.77, reflecting a robust market outlook. The average price prediction is pegged at $24.61, with the maximum price anticipated to hit $25.23, positioning Filecoin as a potential growth leader in the crypto market.
Filecoin market price prediction: Analysts’ Filecoin price forecast
| Firm Name | 2024 | 2025 |
| CoinCodex | $3.74 | $3.44 |
| Priceprediction.net | $4.23 | $6.71 |
| Changelly | $3.84 | $5.54 |
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 $7.42 by 2024. However, traders should also be aware of potential market volatility and increasing competition, which could reduce the price to a minimum of $2.99. The average trading price for FIL is expected to hover around $7.24, 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-hour 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 a $157.63M volume.
- By the end of October 2024, Filecoin traded at $3.4657. As of November 3, its price stood at $3.3743, with a 24-hour trading volume of $80.79 million.
