• Filecoin breaks above major moving averages (20-week SMA and 50-week SMA), confirming bullish momentum.
• RSI at 60.98 and MACD positive crossover show strong momentum, suggesting room for further growth.
• Analysts project a $64 target, indicating a potential 1,800% upside from current levels.

Filecoin (FIL) is showing strong upward momentum, with its price steadily gaining significant ground in the market. In the past 24 hours alone, FIL has climbed nearly 61.67%, and over the past week, it has surged an impressive 105.47%, reflecting renewed investor confidence.

Currently, FIL is trading at $3.33, with a 24-hour trading volume of $3.86 billion, which represents a 110.08% surge in activity during the same period. Its market capitalization stands at $2.45 billion, highlighting growing investor interest and optimism.

Source: CoinMarketCap

Also Read: Filecoin Price Prediction 2025: Expert Targets $3.52 After 12% Drop

Filecoin Technical Outlook Shows Strong Bullish Momentum

The price chart for Filecoin (FIL) shows a strong bullish surge, with the price jumping from $1.66 to $3.43. FIL has moved above key short-term moving averages, the 20-week SMA ($2.34) and 50-week SMA ($3.17), signaling strong upward momentum. The price is now approaching the 100-week SMA ($4.31), which may act as the next resistance.

Source: Tradingview

Technically, the RSI has moved to 60.98, which indicates a strong bullish trend without being overbought. The MACD has moved above the signal line, turning positive. The indicators imply a further rise; however, it would be important to note the resistance areas of the 100-week SMA and the RSI.

Filecoin (FIL) Falling Wedge Signals Breakout to $64

Moreover, the crypto analyst, Captain Faibik, highlighted that in the FIL weekly chart, a descending wedge formation can be observed. Since the all-time high in 2021, a series of lower highs and lower lows has been formed, creating a convergence of two trend lines. The top line connects a series of lower highs, while the bottom line denotes a series of lower supports.

During the past years, the price has been steadily converging within this formation, marking a decrease in volatility, hence a possible period of accumulation. All these are common positive reversal indicators within the context of technical analysis. The converging formation indicates a readiness for a breakout.

Source: X

Recently, the price has broken well above the top edge of the wedge, a strong indication of a possible breakout. The target price ranging close to $64, from the current price of $3.60, indicates a strong positive direction. The strong momentum, which has intensified along this direction, indicates a strong buying level.

Also Read: Filecoin (FIL) Price Surges as AI Demand Grows and DePIN Adoption Accelerates Rapidly