Filecoin Price Prediction – Will FIL Price Hit $300 in 2021 to 2022?

This Filecoin (FIL) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into account upon coming up with our FIL price analysis and prediction.

Filecoin (FIL) so far has become one of the most impressive cryptocurrencies this year. Specifically, the crypto was able to record an all-time-high price of $237.24 last April. This aggressive performance of the crypto attracts the attention of investors around the world.

Regarding Filecoin’s technology, the network uses blockchain technology to run its operations. Mainly, the crypto uses blockchain for the storage of its users’ files on the storage miners. These storage miners are the ones responsible for keeping the files on track and their authenticity. With this, users of the network can be sure that their files are stored reliably and correctly over time.

In this FIL price analysis and price prediction, we take a look at the performance of FIL if it will reach $300. But before that, let us learn more about what Filecoin (FIL) is and its current position in the crypto market.

What is Filecoin (FIL)?

Filecoin is a storage network based on blockchain technology that turns cloud storage into an algorithmic market. It aims to provide all its users worldwide with a safe place to store common and sensitive data or information. Best of all, FIL is designed to be user-friendly in a way that it has special software that enables its users to store data on a PC’s hardware.

The Filecoin network was launched in 2014 and was designed by the Protocol labs. It is built on top of the Interplanetary File System, allowing users to rent unused hard drive spaces. On the other hand, the miners that facilitate or provide data storage or retrieval of files are rewarded by the network.

To be specific, there are many types of data and files that the Filecoin network supports. For example, company files, private data, websites, video, personal files, public databases, podcast data, contract data, and security archives to name a few.

Now that we have an idea about FIL, do you think FIL will be profitable crypto in 2021? Join me and let us see the charts in this FIL price prediction.

Filecoin (FIL) Current Market Status

As of the time of writing this Filecoin technical analysis, FIL trades at $67.00 with a 24-hour trading volume of $1,455,360,834. The price of FIL has increased by 2.52% in the last 24-hours.

Furthermore, FIL has a current circulating supply of 121,881,285.00 FIL. Currently, the top crypto asset trading platforms for FIL are Gemini, Kraken, and Huobi Global.

Now, let’s proceed to the next part of this FIL price analysis for 2021.

Filecoin (FIL) Price Analysis 2021

Currently, FIL holds the 22nd place on CoinMarketCap. But will the latest upgrades, developments, and changes in the FIL blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this FIL price prediction article.

In the chart above, which is set in a daily time frame, we can see the Descending Triangle pattern. This is an important indicator since FIL has been showing bearish over the past month. Consequently, the descending triangle pattern hints that FIL will finally go bearish

In the foreseeable future, we can say that FIL has a higher chance of going bearish than bullish. As shown above, at the beginning of this month, FIL turned from its bear to bull trend. This is the result of the high trade volume that occurred in that period.

The Relative Strength Index (RSI) is close to 63.86, which means that FIL is in nearly overbought state. Hence, this may lead to a price reversal at any given time. 

Therefore, traders must trade crypto carefully and must not be affected by the market hype. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of FIL.

Since the start of 2021, FIL’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, FIL has a competitive market this 2021.

Filecoin (FIL) Price Prediction 2021

The chart below shows that FIL has performed great over the past few days. Moreover, the FIL price over 30% in the last 10 days. If this trend continues, FIL might run along with the bulls, overtaking its $156 resistance level and reach higher.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone FIL from its uptrend position. In simpler terms, the price of FIL might drop to almost $70.75, a bearish signal.

Meanwhile, our long-term FIL price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $237.24. However, it is impossible for FIL to reach this level within this year.

Filecoin (FIL) Price Prediction 2022

If this bullish trend continues, FIL will reach $400 by the end of 2022. Moreover, the first half of 2022 is going to show rapid growth, up to $450. Then the rise will slow down, but no major falls are expected. With upcoming, partnership, and developments reaching $400 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Filecoin (FIL) Price Prediction 2023

If FIL holds the support level around 200-MA which is the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $700, making it not plummet but play consistently.

Filecoin (FIL) Price Prediction 2024

As per the latest upgrades, developments, FIL price prediction, and new project forecasts of the platform, FIL investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of FIL in the crypto market, and it will be the best investment as the price can spike and reach around $850.

Filecoin (FIL) Price Prediction 2025

In the next four years, FIL prices could rise up to $1050. More so, reaching this level could not be so difficult for FIL as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that FIL has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

Filecoin (FIL) has a bright future ahead of it in 2021. With the ongoing developments happening within the FIL ecosystem, as well as in the overall crypto market, we may see FIL reach new heights.

Bullish FIL price prediction 2021 is $156. As said above, it may even reach $300 if investors have decided that FIL is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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