Filecoin (FIL) Price Prediction 2023 — Will FIL Hit $10 Soon?

Filecoin (FIL) Price Prediction 2022 - Will FIL Hit $100 Soon?
  • Bullish FIL price prediction is $3.996 to $16.652.
  • Filecoin (FIL) price might also reach $10 soon.
  • Bearish FIL price prediction for 2023 is $2.476.

In Filecoin (FIL) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about FIL to analyze the future movement of the cryptocurrency. 

Filecoin (FIL) Current Market Status

Current Price $3.16
24 – Hour Trading Volume $85,141,347
24 – Hour Price Change 0.4% down
Circulating Supply 359,805,544
All – Time High $236.84 (On April 01, 2021) 
FIL Current Market Status (Source: CoinGecko)

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). 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 (FIL) Price Prediction 2023

Filecoin (FIL) holds the 37th position on CoinGecko right now. FIL price prediction 2023 is explained below with a daily time frame

FIL /USDT Falling Wedge Pattern (Source: Tradingview)

The above chart of Filecoin (FIL) laid out a Falling Wedge. In a falling wedge pattern, both the upper trend line which connects the highs and the lower trend line which connects the lows converge downwards. The wedge pattern in general indicates a trend reversal. Especially, the falling wedge signals a bullish reversal. This pattern indicates a breakout in the price trend towards an upswing. 

From the above chart, we can interpret that the momentum of the downtrend is slowing down.

Currently, Filecoin (FIL) is in the range of $3.02. If the pattern continues, the price of FIL might reach the resistance levels of $4.476, $6.207, and $11.491. If the trend reverses, then the price of FIL may fall to $2.427.

Filecoin (FIL) Support and Resistance Levels

The chart below shows the support and resistance levels of Filecoin (FIL).

FIL /USDT Support and Resistance Levels (Source: Tradingview)

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Filecoin (FIL). 

Resistance Level 1$3.996
Resistance Level 2$6.314
Resistance Level 3$3.996
Resistance Level 4$16.652
Support Level $2.476
FIL /USDT Support and Resistance Levels

The charts show that Filecoin (FIL) has performed a bullish trend over the past month. If this trend continues, FIL might run along with the bulls overtaking its resistance level at $16.652.

Accordingly, if the investors turn against the crypto, the price of Filecoin (FIL) might plummet to almost $2.476, a bearish signal.

Filecoin (FIL) Price Prediction 2023 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Filecoin (FIL) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of FIL lies below the cutoff line, indicating weak participants in the current trend.

FIL /USDT RVOL, MA, RSI (Source: Tradingview)

Also, the Moving Average (MA) of Filecoin (FIL) is shown in the chart above. Notably, Filecoin (FIL) price lies below 50 MA (short-term), so it is completely in a downtrend. Currently, FIL has entered a bearish state. Therefore, there is a possibility of a reversal trend of FIL at any time.

Meanwhile, the relative strength index (RSI) of the FIL is 37.48. This means that Filecoin (FIL) is nearly oversold. However, this means a major price reversal of FIL may occur in the upcoming days. So, traders need to trade carefully. 

Filecoin (FIL) Price Prediction 2023 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of Filecoin (FIL). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

FIL /USDT ADX, RVI (Source: Tradingview)

The above chart represents the ADX of Filecoin (FIL). Currently, the ADX of FIL lies in the range of 54.383 and thus, it indicates a strong trend. 

The above chart also represents the Relative Volatility Index (RVI) of Filecoin (FIL). RVI measures the constant deviation of price changes over a period of time. The RVI of FIL lies above 50, indicating high volatility. In fact, the RSI of Filecoin (FIL) is at 37.48 thus confirming a potential sell signal.

Comparison of FIL with BTC, ETH

The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and  Filecoin (FIL).

BTC Vs ETH Vs FIL  Price Comparison (Source: Tradingview)

From the above chart, it can be interpreted that ETH, BTC, and FIL are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and FIL also increase or decrease respectively.

Filecoin (FIL) Price Prediction 2024-2030

Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Filecoin (FIL) between 2024 and 2030.

Filecoin (FIL) Price Prediction 2024

If the declining price action completely slows down in momentum and the trend reverses,  Filecoin (FIL) might probably attain $20 by 2024.

Filecoin (FIL) Price Prediction 2025

With several upgrades in the network, Filecoin (FIL) might enter a bullish trajectory. If the coin grabs the attention of major investors, FIL might rally to hit $30 by 2025. 

Filecoin (FIL) Price Prediction 2026

If Filecoin (FIL) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, FIL would rally to hit $40.  

Filecoin (FIL) Price Prediction 2027

If Filecoin (FIL) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, FIL would rally to hit $50. 

Filecoin (FIL) Price Prediction 2028

If Filecoin (FIL) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, FIL would rally to hit $60. 

Filecoin (FIL) Price Prediction 2029

If Filecoin (FIL) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, FIL would hit $70 in 2029.

Filecoin (FIL) Price Prediction 2030

If investors flock in and continue to place their bets on Filecoin (FIL), it would witness major spikes. FIL might hit $80 by 2030.

Conclusion

With continuous improvements in the Filecoin network, we can say that 2023 is a good year for FIL. For this reason, the bullish price prediction of Filecoin (FIL) in 2023 is $16.652. On the other hand, the bearish price prediction of Filecoin (FIL) price prediction for 2023 is $2.476.

Furthermore, with the advancements and upgrades to the Filecoin ecosystem, the performance of FIL would help to reach above its current all-time high (ATH) of $236.84 very soon. But, it might also reach $10 if the investors believe that FIL is a good investment in 2023.

FAQ

1. What is Filecoin (FIL)?

Filecoin (FIL) is the native token of Filecoin, a decentralized peer-to-peer (P2P) storage protocol that exists on top of the InterPlanetary File System (IPFS). FIL was launched in 2017 ICO.

2. Where can you purchase Filecoin (FIL)?


Filecoin (FIL) has been listed on many crypto exchanges which include Binance, Coinbase Exchange, OKX, Gate.io and FMFW.io.

3. Will Filecoin (FIL) reach a new ATH soon?


With the ongoing developments and upgrades within the Filecoin platform, FIL has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Filecoin (FIL)?

On April 01, 2021 Filecoin (FIL) reached its new all-time high (ATH) of $236.84.

5. Is Filecoin (FIL) a good investment in 2023?

Filecoin (FIL) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Filecoin in the past few months, FIL is considered a good investment in 2023.

6. Can Filecoin (FIL) reach $10?

Filecoin (FIL) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Filecoin (FIL) will hit $10 soon.

7. What will be Filecoin (FIL) price by 2024?

Filecoin (FIL) price is expected to reach $20 by 2024.

8. What will be Filecoin (FIL) price by 2025?

 Filecoin (FIL) price is expected to reach $30 by 2025.

9. What will be Filecoin (FIL) price by 2026?

 Filecoin (FIL) price is expected to reach $40 by 2026.

10. What will be Filecoin (FIL) price by 2027?

 Filecoin (FIL) price is expected to reach $50 by 2027.

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.

A dedicated writer who shows her interest in writing all sorts of content about the cryptocurrency market in NewsCrypto. She is an enthusiastic reader and writer with passion for sharing crypto news and trends.