- Bullish FIL price prediction is $9.71 to $50.33.
- The FIL price will also reach $100 soon.
- Bearish FIL price prediction for 2022 is $4.79.
In Filecoin (FIL) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about FIL to analyze the future movement of the cryptocurrency.
Filecoin (FIL) Current Market Status
According to CoinGecko, the price of Filecoin (FIL) is $5.71 with a 24-hour trading volume of $99,796,272 at the time of writing. However, FIL has decreased to 2.1% in the last 24 hours.
Moreover, Filecoin (FIL) has a circulating spply of 224,645,151 FIL. Currently, FIL trades in cryptocurrency exchanges such as Binance, FMFW.io, BKEX, Digifinex, Coinbase, OKX, WhiteBIT, KuCoin, Huobi global, LBank, and Gate.io.
What is Filecoin (FIL)?
Filecoin (FIL) is the native cryptocurrency of the Filecoin blockchain. Filecoin is an open-source, decentralized storage protocol that exists on top of the InterPlanetary File System (IPFS). Filecoin (FIL) was launched in an ICO in 2017 whereas the Filecoin mainnet went live in October 2020. Filecoin was developed by the Protocol Labs.
Filecoin enables users to store any size of data on multiple hack-proof storage providers or devices. It serves as a better alternative to the existing cloud storage providers such as Dropbox, Google Drive, and Amazon S3. Filecoin deploys proof-of-replication (PoRep) and proof-of-spacetime (PoSt) consensus mechanisms to secure the blockchain.
Miners use these consensus models to verify the data that is being stored on the blockchain. They require only GPUs, CPUs, and hard drives for mining. Filecoin nodes act as storage nodes. Filecoin (FIL) is given out as mining rewards and also as rewards to users for renting out the space for storage.
Filecoin (FIL) Price Prediction 2022
Filecoin (FIL) holds the 46th position on CoinGecko right now. FIL price prediction 2022 is explained below with a daily time frame.
The above chart of Filecoin (FIL) laid out the descending channel pattern, also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market.
Currently, Filecoin (FIL) is at $5.74. If the pattern continues, the price of FIL might reach the resistance level of $6.65, $8.32, and $9.19. If the trend reverses, then the price of FIL may fall to $4.84.
Filecoin (FIL) Support and Resistance Levels
The chart below shows the support and resistance levels of Filecoin (FIL).
From the above daily time frame, it is clear the following are the resistance and support levels of Filecoin (FIL)
| Resistance Level 1 | $9.71 |
| Resistance Level 2 | $16.68 |
| Resistance Level 3 | $29.04 |
| Resistance Level 4 | $50.33 |
| Support Level | $4.79 |
The above chart shows that FIL has performed a bullish trend over the past month. If this trend continues, Filecoin (FIL) might run along with the bulls overtaking its resistance level at $50.33.
Accordingly, if the investors turn against the crypto, the price of the FIL might plummet to almost $4.79, a bearish signal.
Filecoin (FIL) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Filecoin (FIL) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of FIL lies below the cutoff line, indicating weak participants in the current trend.
Moreover, the Moving Average (MA) of Filecoin (FIL) is shown in the above chart. Notably, the FIL price lies below 50 MA (short-term), so it is completely in a downward trend. Currently, FIL is in a bearish state. There is a possibility of a reversal trend of FIL at any time.
Meanwhile, the relative strength index (RSI) of the FIL is at a level of 40.93. This means that FIL is in an oversold state. However, this gives confidence to the traders to trade without any fear.
Filecoin (FIL) Price Prediction 2022 — ADX, RVI
Let us now look Average Directional Index (ADX) of Filecoin (FIL). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Filecoin (FIL). Currently, FIL lies in the range of 33.34, indicating a strong trend.
From the above chart, the Relative Volatility Index (RVI) of Filecoin (FIL). RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of FIL lies just below 50, indicating lower volatility. In fact, FIL’s RSI is at 40.93, thus confirming a potential buy signal.
Comparison of FIL with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Filecoin (FIL).
From the above chart, we can interpret ETH, BTC, and FIL are moving in a similar trend but with slight differences. This indicates that when the price of BTC increases or decreases, the price of ETH and FIL also increase or decrease respectively.
Filecoin (FIL) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, Filecoin (FIL) might probably attain $124 by 2023.
Filecoin (FIL) Price Prediction 2024
With several upgrades in the network, Filecoin (FIL) might enter a bullish trajectory. If the coin grabs the attention of major investors, FIL might rally to hit $143 by 2024.
Filecoin (FIL) Price Prediction 2025
If Filecoin (FIL) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, FIL would rally to hit $161.
Filecoin (FIL) Price Prediction 2026
If Filecoin (FIL) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, FIL would rally to hit $180.
Filecoin (FIL) Price Prediction 2027
If Filecoin (FIL) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, FIL would rally to hit $197.
Filecoin (FIL) Price Prediction 2028
If Filecoin (FIL) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, FIL would hit $221.
Filecoin (FIL) Price Prediction 2029
If investors flock in and continue to place their bets on Filecoin (FIL), it would witness major spikes. FIL might hit $245 by 2029.
Filecoin (FIL) Price Prediction 2030
With greater advancements in the Filecoin ecosystem, the crypto community might continue to invest in Filecoin (FIL) for the next 8 years and drive significant price rallies for the token. Hence, Filecoin (FIL) might hit $280 by 2030.
Conclusion
With continuous improvements in the Filecoin network, we can say that 2022 is a good year for FIL. For this reason, the bullish price prediction of Filecoin (FIL) in 2022 is $50.33. On the other hand, the bearish price prediction of Filecoin (FIL) for 2022 is $4.79.
Furthermore, with the advancements and upgrades in the Filecoin ecosystem, the performance of Filecoin (FIL) might hit $100 gaining investors’ attention. It would also rise to reach above its all-time high (ATH) of $236.84 in the near future.
FAQ
Filecoin (FIL) is the native token of the Filecoin, a decentralized peer-to-peer (P2P) storage protocol that exists on top of the InterPlanetary File System (IPFS). FIL was launched in 2017 ICO.
Filecoin (FIL) has been listed on many crypto exchanges which include Binance, FMFW.io, BKEX, Digifinex, Coinbase, OKX, WhiteBIT, KuCoin, Huobi global, LBank,and Gate.io.
With the ongoing developments and upgrades within the Filecoin platform, Filecoin (FIL) has a high possibility of reaching its ATH soon.
On April 01, 2021, Filecoin (FIL) reached its new all-time high (ATH) of $236.84.
Filecoin (FIL) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Filecoin in the past few months, FIL is considered a good investment in 2022.
Filecoin (FIL) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Filecoin (FIL) will hit $100 soon.
Filecoin (FIL) price is expected to reach $124 by 2023.
Filecoin (FIL) price is expected to reach $143 by 2024.
Filecoin (FIL) price is expected to reach $161 by 2025.
Filecoin (FIL) price is expected to reach $180 by 2026.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Recommended For You
Source: https://thenewscrypto.com/filecoin-fil-price-prediction