Key Insights
- Filecoin’s price surged from $1.8 to $3.9, marking a sharp reversal after months of decline and setting new technical support at $3.2.
- The 50-day moving average is nearing a golden cross, signaling improving market momentum and potential for a sustained bullish phase.
- Grayscale’s Filecoin holdings reached 2.2 million tokens, reflecting robust institutional demand and growing confidence in decentralized storage.
Filecoin continued its steep recovery on November 8, rising over 51% in 24 hours and building on the previous day’s 110% surge. The rapid ascent lifted the token from $1.8 to $3.9 before stabilizing around $3.26. This sharp rebound ended a multi-month downtrend that had limited momentum since early 2025, signaling renewed optimism among market participants.
The latest breakout transformed the $3.2 level from a firm resistance into a key support zone. Buyers have stepped back in with increasing confidence, absorbing selling pressure and laying a base for the next advance. The price range between $3.2 and $3.3 now appears critical for potential accumulation, while the $3.9 mark remains the next significant hurdle for bullish traders. If buying volume continues to rise within this range, analysts expect the token could move toward the $5 mark before the end of the year.
Technical Indicators Suggest Strengthening Trend
Market indicators point to a steadily improving structure. The 50-day moving average has begun approaching the 200-day line, forming a setup for a golden cross — a widely watched signal of trend reversal. The narrowing distance between the two averages indicates strengthening momentum. Additionally, consistent trading above $3.25 reflects growing investor confidence and reinforces short-term bullish sentiment.
Grayscale Investments has expanded its Filecoin holdings to a record 2.2 million tokens, underscoring growing institutional interest in decentralized storage assets. Its Filecoin Trust now trades at a premium above the spot price, suggesting that investors see long-term value in the project. Furthermore, the recent improvement in global trade sentiment and easing economic uncertainty have supported risk assets, further benefiting cryptocurrencies like Filecoin.
Outlook
With technical and institutional factors aligning, Filecoin’s current momentum reflects a notable shift in sentiment. The recovery beyond key resistance levels and sustained accumulation point to a potential continuation of the uptrend. As liquidity returns to the broader market, Filecoin may remain supported above $3, maintaining its upward trajectory in the coming weeks.
