Key takeaways:
- Our Filecoin price prediction suggests an average market price of $5.97 by the end of 2024.
- By 2030, FIL might touch $25.31 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 and impressive growth metrics. This has firmly positioned it within the industry.
Following its significant success in 2021, where it achieved substantial returns, investors’ interest in FIL is growing. 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 comprehensively analyze FIL’s price forecasts for 2024 and beyond.
Overview
| Cryptocurrency | Filecoin |
| Token | FIL |
| Price | $3.68 |
| Market Cap | $2,153,989,618 |
| Trading Volume | $97,338,580 |
| Circulating Supply | 585,924,450 FIL |
| All-time High | $237.24 on Apr 01, 2021 |
| All-time Low | $1.83 on Aug 29, 2019 |
| 24 High | $3.76 |
| 24 Low | $3.63 |
Filecoin price prediction: Technical analysis
| Metric | Value |
| Price Prediction | $ 9.80 (165.74%) |
| Volatility | 6.69% |
| 50-Day SMA | $ 3.76 |
| 14-Day RSI | 54.25 |
| Sentiment | Neutral |
| Fear & Greed Index | 50 (Neutral) |
| Green Days | 15/30 (50%) |
| 200-Day SMA | $ 5.63 |
FIL price analysis: FIL on a bear run
- Resistance at 3.9
- Support is being provided at $3.2
Filecoin price analysis 1-day chart analysis
On September 14, the 1-day chart for Filecoin (FIL/USD) shows it trades at $3.683. The Bollinger Bands indicate reduced volatility, with the price hovering near the lower band at $3.220, suggesting potential oversold conditions. The Relative Strength Index (RSI) is at 52.18, indicating neutral momentum. The price is below the 20-day Simple Moving Average (SMA) at $3.553, signaling a bearish sentiment. A close above $3.886, the upper Bollinger Band, could indicate a reversal, while a drop below $3.220 might lead to further downside pressure. Traders should watch for breakout signals.
Filecoin price analysis 4-hour chart analysis
The Balance of Power (BoP) indicator at -0.67 suggests bearish dominance. The Moving Average Convergence Divergence (MACD) shows a negative histogram, with the MACD line at -0.002 below the signal line at 0.050, indicating weakening bullish momentum. The price is oscillating near recent highs at $3.697 but faces resistance. A breakout above this level could signal further upside potential, while a move below $3.673 may confirm continued bearish pressure. Traders should watch for further confirmations from MACD and BoP trends.
Filecoin technical indicators: Levels and action
Daily simple moving average (SMA)
| Period | Value | Action |
| SMA 3 | $ 3.59 | BUY |
| SMA 5 | $ 3.57 | BUY |
| SMA 10 | $ 3.50 | BUY |
| SMA 21 | $ 3.65 | BUY |
| SMA 50 | $ 3.76 | SELL |
| SMA 100 | $ 4.20 | SELL |
| SMA 200 | $ 5.63 | SELL |
Daily exponential moving average (EMA)
| Period | Value | Action |
| EMA 3 | $ 3.60 | BUY |
| EMA 5 | $ 3.61 | BUY |
| EMA 10 | $ 3.63 | BUY |
| EMA 21 | $ 3.72 | SELL |
| EMA 50 | $ 4.04 | SELL |
| EMA 100 | $ 4.61 | SELL |
| EMA 200 | $ 5.18 | SELL |
Filecoin technical analysis: Conclusion
Based on the 1-day and 4-hour charts, Filecoin (FIL) is in a consolidation phase with bearish tendencies. The 4-hour chart’s Balance of Power at -0.67 and a weak MACD crossover indicate continued bearish pressure. The price needs to break above $3.886 (1-day upper Bollinger Band) for bullish momentum, while failure to hold above $3.553 (20-day SMA) may result in further declines. Traders should be cautious of a potential breakdown or wait for a confirmed breakout signal.
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 the technology’s fundamentals and market dynamics, before making investment decisions.
Recent news / Opinions on Filecoin
Filecoin announced that it is revolutionizing how DataDAOs manage and monetize data.
Messari reports show Filecoin’s Q2 storage utilization was up 26%. According to the report, about 518 clients onboarded large datasets less than 1000TIB. Also, FIL’s TVL reached an all-time high of 63m FIL ($273M), driven by staking and leading.
- Expansions in Decentralized Storage Solutions: Filecoin’s ecosystem has introduced new decentralized storage solutions, such as integrating 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.
Filecoin price prediction September 2024
According to experts, Filecoin’s market price in September will remain stable at $3.39. 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 September 2024 | $3.39 | $3.39 | $3.39 |
Filecoin price prediction 2024
The Market price for FIL is expected to reach a Maximum of $7.44 by the fourth quarter of 2024. However, traders can expect a minimum trading price of $3.00 and an average price of $7.26.
| Filecoin price prediction | Potential Low | Potential Average | Potential High |
| Filecoin price prediction 2024 | $3.00 | $7.26 | $7.44 |
Filecoin price prediction 2025 – 2030
| Filecoin Price Prediction | Potential Low ($) | Potential Average ($) | Potential High ($) |
| 2025 | $7.25 | $8.26 | $8.74 |
| 2026 | $9.97 | $11.80 | $12.23 |
| 2027 | $13.01 | $14.94 | $15.37 |
| 2028 | $13.01 | $14.94 | $15.37 |
| 2029 | $16.07 | $17.72 | $18.59 |
| 2030 | $22.85 | $24.69 | $25.31 |
Filecoin price prediction 2025
The Filecoin’s price forecast for 2025 suggests a price range of $7.25 to $8.74, with an average fil rate of $8.26.
Filecoin price prediction 2026
In 2026, FIL’s Average price is expected to be $11.80. its minimum and maximum trading prices are predicted to be $9.97 to $12.23, respectively.
Filecoin (FIL) price prediction 2027
The price for Filecoin is predicted to reach a maximum value of $15.37 in 2027. On the lower end, FIL is expected to trade at $13.01, with an average of $14.94.
Filecoin price prediction 2028
Traders can expect an average trading price of $14.94, with a minimum and maximum prices of $13.01 and $15.37, respectively in 2028
Filecoin price prediction 2029
For 2029, the price prediction for FIL is expected to be around a minimum value of $16.07, with an average value of $17.72. Nonetheless, FIL is expected to trade at a Maximum value of $18.59.
Filecoin (FIL) price prediction 2030
In 2030, FIL’s average forecast price could be $24.69. Its minimum and maximum trading price is expected to be $22.85 and $25.31, respectively.
Filecoin market price prediction: Analysts’ Filecoin price forecast
| Firm Name | 2024 | 2025 |
| CoinCodex | $8.90 | $15.79 |
| Changelly | $5.03 | $10.02 |
Cryptopolitan’s Filecoin(FIL) price prediction
Filecoin (FIL) is projected to reach a maximum price of $7.44 by the fourth quarter of 2024, with a minimum price of $3.00 and an average of $7.26. Looking further ahead to 2030, FIL’s price could range from $22.85 to $25.31, with an average forecast of $24.69, reflecting potential long-term growth based on market trends and expectations.
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 hours trading volume of $95.24 million.
