Filecoin (FIL) Price Prediction 2022 — Will FIL Hit $55 Soon?

Filecoin (FIL) Price Prediction 2022 - Will FIL Hit $100 Soon?
  • Bullish FIL price prediction is $8.55 to $51.20.
  • Filecoin (FIL) price might also reach $55 soon.
  • Bearish FIL price prediction for 2022 is $4.83.

In Filecoin (FIL) price prediction 2022, 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

According to CoinGecko, the price of Filecoin (FIL) is $5.66 with a 24-hour trading volume of $129,743,587 at the time of writing. However, FIL has decreased by nearly 2.7% in the last 24 hours.

Moreover, Filecoin (FIL) has a circulating supply of 270,713,654 FIL. Currently, Filecoin (FIL) trades in cryptocurrency exchanges such as Binance, Coinbase Exchange, OKX, Gate.io and FMFW.io.

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 the 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 2022

Filecoin (FIL) holds the 37th position on CoinGecko right now. FIL price prediction 2022 is explained below with a daily time frame.

FIL/USDT Descending Channel Pattern (Source: Tradingview)

The above chart of Filecoin (FIL) laid out the Descending Channel. Descending channel also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market.

Currently, Filecoin (FIL) is in the range of $5.82. If the pattern continues, the price of FIL might reach the resistance levels of $8.01, $11.17, $16.64 and $27.03. If the trend reverses, then the price of FIL may fall to $4.97.

Filecoin (FIL) Support and Resistance Levels

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

FIL/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support levels of Filecoin (FIL)

Resistance Level 1$8.55
Resistance Level 2$16.69
Resistance Level 3$29.19
Resistance Level 4$51.20
Support Level $4.83
FIL Resistance & Support Level

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 $51.20.

Accordingly, if the investors turn against the crypto, the price of Filecoin (FIL) might plummet to almost $4.83, a bearish signal.

Filecoin (FIL) Price Prediction 2022 — 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 35.60. This means that Filecoin (FIL) is in an oversold state. 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 2022 — ADX, RVI

Let us now look 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 46.31 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 below 50, indicating low volatility. In fact, the RSI of Filecoin (FIL) is at 35.60 thus confirming a potential buy signal.

Comparison of FIL with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, 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 2023

If the declining price action completely slows down in momentum and the trend reverses, Filecoin (FIL) might probably attain $58 by 2023.

Filecoin (FIL) Price Prediction 2024

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 $61 by 2024. 

Filecoin (FIL) Price Prediction 2025

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 $64.  

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 4 years, FIL would rally to hit $67. 

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 5 years, FIL would rally to hit $70. 

Filecoin (FIL) Price Prediction 2028

If Filecoin (FIL) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, FIL would hit $73.

Filecoin (FIL) Price Prediction 2029

If investors flock in and continue to place their bets on Filecoin (FIL), it would witness major spikes. FIL might hit $76 by 2029.

Filecoin (FIL) Price Prediction 2030

With greater advancements in the Filecoin ecosystem, the crypto community might continue to invest in Filecoin (FIL) for the next 8 years and drive significant price rallies for the token. Hence, Filecoin (FIL) might hit $79 by 2030.

Conclusion

With continuous improvements in the Filecoin network, we can say that 2022 is a good year for FIL. For this reason, the bullish price prediction of Filecoin (FIL) in 2022 is $51.20. On the other hand, the bearish price prediction of Filecoin (FIL) price prediction for 2022 is $4.83.

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 $55 if the investors believe that FIL is a good investment in 2022.

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, Filecoin (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 2022?

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 2022.

6. Can Filecoin (FIL) reach $55?

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 $55 soon.

7. What will be Filecoin (FIL) price by 2023?

Filecoin (FIL) price is expected to reach $58 by 2023.

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

Filecoin (FIL) price is expected to reach $61 by 2024.

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

Filecoin (FIL) price is expected to reach $64 by 2025.

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

Filecoin (FIL) price is expected to reach $67 by 2026.

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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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.