Is Filecoin Set for a Rally? Technical Indicators Point to $2.70 Target
- FILs current trading price stands at $2.64, reflecting a 2.55% daily decline.
- Trading volume surged nearly 19%, indicating rising investor attention.
- Technical signals suggest a potential short-term rebound may be underway.
Filecoin (FIL) is going through a bearish period right now, with its price declining 2.55% today, trading at $2.64. FIL lost 2.91% in the last seven days, highlighting the compounded pressure within the market. The bearish trend, which kicked in around $2.90, gathered momentum over three days, with the token dropping as low as $2.610.
A series of successive bearish candles on the 4-hour chart corroborated the intensity of the selling, as intraperiod movements were moderate, with an average of $0.030. Prices have been in a narrow trading channel, trading within $2.582 and $2.920.
Despite such downward pressure, recent trends have hinted at the possibility of a change in direction. Analysts Ali has observed that the TD Sequential indicator flashed its buy signal on the 4-hour chart, usually an indication of bearish trend exhaustion. This is especially noteworthy after the extended decline, hinting at an immediate reversal.
Filecoin TD sequential shows bullish 9 signal
The standout development is the emergence of red 9 on the TD Sequential indicator, which is a potential bullish sign usually associated with reversals in the trend. It is preceded by red count numbers, such as 1, which indicates potential exhaustion of the ongoing bearish phase.
Complementing this argument, the price has begun consolidating around $2.65. The decreasing candle body indicates diminished volatility, typically leading toward a breakout. The presence of a small black arrow rising on the chart further highlights the change in sentiment.
While just a modest 0.08% increase has recently been recorded, such a small rise could be the start of something bigger. Should purchasing support intensify, the move back toward the $2.70 mark is not out of the question in the near term.
Filecoin price outlook based on past trends
Technical experts in their recent long-term price prediction anticipate that Filecoin (FIL) will move in a tight range throughout 2025. Based on projections in its available data, FILs lowest price can settle at $2.59, with an upper price not going over $2.66. The average trading price for 2025 is anticipated to stay around $2.73, a low but unfavorable potential ROI of -1.8%.
For May 2025 directly, experts have projected their predictions based on recent trends in the market as well as historical trends. They predict that Filecoin will range from $2.57 to $2.73, with an average of about $2.65. This translates to modest monthly appreciation with a maximum ROI of just 0.74%, indicating short-term flatness in what otherwise remains volatile cryptocurrency.
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Text source: TronWeekly
