- Filecoin trades at $2.37 while testing a year-long descending trendline that has capped every major recovery attempt since late 2024.
- A breakout above the descending trendline could drive Filecoin toward $4.50, marking a potential 104% increase from current trading levels.
- Trader sentiment is bullish as Binance and OKX long/short ratios exceed 2.3, reflecting strong buying activity around critical resistance levels.
Filecoin (FIL) is testing a crucial descending trendline on daily chart, which has previously and with resilience acted as resistance on price movement for nearly a year. If FIL was to break above this level it would indicate the potential for a more bullish stage for the crypto asset.
Testing a Year-Long Trendline
According to analysis shared by Clifton Fx, FIL is approaching a decisive stage on the daily timeframe. The chart reveals that the descending trendline has acted as resistance since late 2024, blocking every recovery attempt. This persistent barrier has kept the asset in a prolonged downward cycle.
As we reach September 2025, FIL is testing this level again after a recent move higher. It looks like momentum is building for the upward move, and traders are assessing if this level of resistance will break this time. If it does, FIL could see a transformation in the current market structure.
At the time of this writing, the price of Filecoin is $2.37 with a 24-hour volume of $120,923,325. Filecoin has experienced a 24 hour price increase of 2.35% and a week’s price increase of 3.07%. Gradual increases in price continue to signal participating in the market,
Potential Price Targets if Resistance Breaks
If FIL manages to break above the descending trendline and sustain trading higher, analysts see room for upward extension. The chart shows a projected target of $4.50, which would represent an increase of about 104% from current levels.
This projection stems from the repeated rejections observed in the past, where the trendline served as a major ceiling. A clean break above such a long-standing resistance could encourage traders to position for stronger moves. Sustaining higher prices would also suggest a shift in market behavior from bearish to more constructive.
Market participants are therefore watching this level as a possible start of a broader recovery phase. Failure to break through could mean further consolidation, while success could confirm a new directional move for FIL.
Sentiment Indicators Show Strong Buying Interest
Trader positioning data reflects growing optimism around Filecoin as it approaches this technical barrier. On Binance, the long/short ratio stands at 2.31, showing a clear tilt toward long positions. Among top traders, this ratio climbs to 2.58, reinforcing the expectation of an upward breakout.
OKX similarly has a ratio of 2.99 showing an even more bullish interest from its market participants. These ratios suggest that traders anticipate something positive as the asset continues to test pre-covid trendline.
Such sentiment, combined with rising trading activity, supports the possibility of increased volatility around current levels. If the trendline finally gives way, these positions could accelerate upward momentum toward projected targets.
