- FIL surged over 30% to $3.49 after Upbit listing but corrected to $2.86, facing resistance at $3.40 and support at $2.60-$2.70.
- RSI at 46.68 and a rising MACD suggest mild bullish momentum, but the price has formed a death cross.
- FIL’s April 5 outlook depends on a $3.00 breakout for upside or a drop below $2.60, potentially retesting $2.30 if bearish momentum persists.
Filecoin saw a sharp 30% increase after South Korean exchange Upbit listed new FIL trading pairs. The token briefly surged from $2.71 to $3.49 following the news, showing short term excitement among traders.
However, the price later corrected and is trading at $2.86 at press time. With trading volumes surging and technical indicators shifting, monitoring key support and resistance levels is essential. Filecoin has a market cap of $1.85 billion, while daily volume increased by 171.22% to $486.16 million.
FIL’s Resistance Levels Tighten
The price recently bounced off its support zone between $2.60 and $2.70, rising to $2.86 before facing resistance. A daily high of $3.40 was recorded, followed by rejection around $3.40.
The price remains within a multi-week range of $2.50 to $3.50. A breakout attempt above $3.00 was not sustained, emphasizing the $3.40 level as immediate resistance. Volume for the day stood at 10.02 million FIL, suggesting moderate activity.
Filecoin’s current trend still follows a broader downtrend from a late 2024 high of $8.309. Since mid-December 2024, the token has had a steady decline, followed by ongoing consolidation.
Indicators Show Mixed Momentum
The RSI reading is at 46.68, with a signal line at 44.74, suggesting mild upward momentum. However, it is below the neutral 50 level. The MACD line has begun rising toward the signal line, now at -0.002 versus -0.086.
The narrowing histogram, currently at -0.088, indicates a possible bullish crossover forming. Despite short-term momentum, the longer-term outlook remains bearish.
Filecoin’s 50-day moving average remains well below its 200-day average. The price is also trading under both averages. This “death cross” formation confirms the continuation of bearish pressure in the broader trend.
April 5 price Depends on $3 Breakout or $2.60 Support
Total open interest currently is at $85.07 million. Since January 2025, open interest has fallen substantially, a pullback in leveraged positions. This drop aligns with declining trader confidence.
April 5’s prediction depends heavily on whether FIL can regain strength above $3.00. A breakout could push prices toward $3.40 or higher. However, if sellers regain control, the price may revisit the $2.60 level. A breach below this zone could send FIL down to $2.30 or lower.
