- FIL must hold above $2.90 to avoid a deeper bearish trend; a rebound could target $3.70 – $4.50, with potential for $6 – $11.
- RSI at 47.88 suggests mild bullish pressure, while MACD shows weak momentum, making FIL’s next move highly dependent on external factors.
- The February 19 event could drive further price action, as Web3 infrastructure discussions may boost investor sentiment.
Filecoin and Lava play key roles in Web3 by providing decentralized solutions for data storage and retrieval. Filecoin offers a blockchain-based system for storing digital information securely and transparently.The event, set for February 19, will examine how these technologies are shaping Web3 infrastructure. Industry experts will highlight how developers and decentralized applications (dApps) benefit from these innovations.
FIL Key Levels To Watch
This event has seen Filecoin price surge. At press time, FIL was trading at $3.39 , a 2.1% increase in the past 24 hours. Ali , a crypto analyst on X, forecasts that Filecoin could reach between $6 and $11 as long as it holds above $2.90.
Historically, this area has provided strong buying interest, making it a pivotal level for potential reversal. The recent downtrend, which saw FIL decline from around $6.50 to the current price, indicates increased selling pressure. However, if buyers step in and defend the $2.90 – $3.00 range, FIL could see a relief rally targeting $3.70 – $4.50 initially, with a possible breakout towards $6.00 in the medium term. A more extended bullish run could even push prices to $11.00, aligning with past resistance levels.
On the other hand, if FIL fails to hold $2.90, the next support levels lie around $2.50 and $1.60, which would signal a continuation of the bearish trend. Given the recent price structure, FIL is currently in a critical decision zone, where either a strong rebound or a breakdown could occur.
Technical Indicators
Filecoin’s RSI is at 47.88, below the neutral 50 mark, suggesting mild bullish momentum. The MACD indicates weak bullish pressure, with the histogram showing minimal divergence between the MACD and signal lines.
With key resistance and support levels identified, FIL’s price movement may depend on market events. Positive regulatory developments could also provide the momentum needed for a decisive breakout or breakdown.
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