- Filecoin has broken its bearish pattern, retested strong support, and is now targeting higher resistance levels in the coming weeks.
- The $2.50–$2.70 zone has held as a reliable accumulation range, attracting buyers during retracements and maintaining bullish market momentum.
- Technical setup shows a potential Golden Cross forming, with $3.40 resistance as the breakout point for further upward price movement.
Filecoin (FIL) went from bearish to potentially bullish after breaking key downtrend resistance and retesting support. The breakout indicates that the token could now move higher, aiming for at least a couple of higher price region levels over the following weeks.
Breakout From Bearish Pattern and Support Retest
Crypto analyst Marcus Corvinus stated on X that the bearish setup in FIL has broken, followed by a pullback confirming support. The $2.50–$2.70 area, acting as an accumulation range, has held firmly. This support has consistently attracted buyers during past retracements.
The recent breakout above a descending resistance line on the daily chart shows that the selling pressure is getting weaker. The price can now aim for higher levels, with $3.40 as a quick target. If the price can hold above this level, momentum to $6.28, $8.41, and $11.88 could develop.
Technical Indicators Signal Bullish Momentum
The daily chart shows repeated rounded bottoms near $2.00–$2.10, where buyers have stepped in. These formations often precede price recoveries. The breakout from the short-term descending channel has further shifted control toward buyers.
The 50-day moving average is flattening upward and approaching a potential crossover with the 200-day moving average. This “Golden Cross” pattern, if confirmed, could attract further buying interest. The $3.60 resistance remains the key level to beat for an extended rally.
Market Conditions and Price Outlook
As of writing, Filecoin trades at $2.47, down 4.76% in 24 hours but up 3.35% in the past week. Market volume stands at $218.16 million in the same period.
The current price action suggests a reset phase after the breakout attempt. Historical reaction points align with the projected resistance zones, reinforcing the bullish case if momentum continues. Analysts note that holding above the established support zone keeps the upward potential intact.
Market participants will closely watch the $3.40–$3.60 area as a breakout trigger that could lead to accelerated gains toward the next resistance bands.
