Filecoin (FIL) Price Prediction 2023-2030: Will FIL Price Hit $20 Soon?

• Bullish FIL’s price prediction ranges from $8.077 to $8.940.
• Analysis suggests that the FIL price might reach $10.867 soon.
• FIL’s bearish market price prediction for 2023 is $2.721.

Filecoin is a decentralized storage system with the goal of “storing humanity’s most important information.” Filecoin is an open system supported by a blockchain that records network participants’ promises, with FIL serving as the blockchain’s native currency. With these unique features, FIL has become one of the altcoins in many investors’ watchlists.

If you are interested in the future of Filecoin and would want to know the price analysis and price prediction of FIL for 2023, 2024, 2025, 2026, and up to 2050, keep reading this Coin Edition article.

Filecoin (FIL) Market Overview

What Is Filecoin (FIL)?

Filecoin is a decentralized storage system with the goal of “storing humanity’s most important information.” Filecoin is an open system supported by a blockchain that records network participants’ promises, with FIL serving as the blockchain’s native currency. Proof-of-replication and proof-of-spacetime are the two fundamental building blocks of the blockchain.

Juan Benet, who also designed the InterPlanetary File System, founded Filecoin. Filecoin seeks to store data in a decentralized manner. In contrast to cloud storage providers like Amazon Web Services or Cloudflare, which are susceptible to centralization problems, Filecoin uses its decentralized nature to safeguard the integrity of a data’s location—making it retrievable and difficult to censor.

Decentralized storage systems, such as Filecoin, enable users to be the sole custodians of their data and increase global online accessibility. Since participation in the Filecoin network by mining and storing is directly proportional to earning additional block rewards, Filecoin incentivizes players to act honestly and save as much data as possible.

Proof-of-replication and proof-of-spacetime are utilized to protect Filecoin. In the Filecoin network, nodes also known as retrieval miners compete to deliver data to clients as rapidly as possible. They are subsequently compensated with FIL fees, which promote a network of nodes to replicate and preserve files.

Storage miner nodes are in constant competition for contracts to offer customers storage for a predetermined period. When a storage miner and a client reach an agreement, the storage miner stores the client’s data in a sector and “seals” it to generate a unique copy of the sector’s contents. Clients compensate storage miners with FIL as transaction fees, and these miners can also mine blocks to earn a block reward.

Filecoin (FIL) Current Market Status

With 457,799,067 FIL in circulation, Filecoin (FIL) trades at $3.20 at the time of writing. FIL has a 24-hour trading volume of $53,108,872, and during the previous 24 hours, the price of FIL has increased by 1.37%.

At the moment, the most popular crypto exchanges to trade Filecoin (FIL) are Binance, Coinbase, OKX, Kucoin, Kraken, Bybit, and Bitrue. Let’s continue with our FIL price research for 2023.

Filecoin (FIL) Price Analysis 2023

Currently, FIL ranks 31 on CoinMarketCap. Will the FIL blockchain’s most recent improvements, additions, and modifications help the price of cryptocurrencies rise? Now, let’s focus on the charts in this article’s FIL price forecast first.

Filecoin (FIL) Price Analysis – Bollinger Bands

The Bollinger Bands is a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilizes the time period and the stand deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean.

The candlesticks are currently trading sideways as it is hitting both the upper and lower band of the Bollinger Band indicator. The next upcoming price actions could decide the upcoming sentiment of the price action. The current position of the altcoin could have been caused by the retracement process as a response to the candlesticks. Even before that, the candlesticks were swinging up and down wildly as the upper and the lower bands expanded massively, reporting the presence of high volatility sentiment in the market.

Filecoin (FIL) Price Analysis – Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is considered as the overbought region, and traders expect the price could fall soon.

The RSI is currently valued at 44.78 which is a level less than 50 and is often viewed as a neutral zone by a few traders. In order for the altcoin to confirm a bull run, the RSI needs to make a bullish crossover and reach the region which is between 60 and 70. Currently, the RSI and the price action show that the asset is consolidating.

Filecoin (FIL) Price Analysis – Moving Average Convergence Divergence (MACD)

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will make the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data. MACD plays an important role as it can confirm the trends and identify potential reversals.

The MACD indicator currently highlights that there are red candles forming which is often seen as bearish sentiment. The MACD made a bearish crossover, as well as the MACD line, fell below the signal line. However, it should be noted that the signals the MACD provides are usually set for the short-term period. 

Filecoin (FIL) Price Prediction 2023 – 2030 Overview

Filecoin (FIL) Price Prediction 2023

Looking at the chart, the candlesticks seem to have formed a descending triangle pattern as the candlestick made an entry into the bear market. Currently, the candlesticks are moving sideways, hence, it is hard to determine its current trend in the market. However, any early indications from the indicator could motivate the traders to make a significant action ultimately contributing to its sentiment. The right decision the traders could make right now is to closely observe the charts and wait for any significant changes in the market.

Meanwhile, the price prediction of FIL for 2023 remains to be bullish and is expected to reach beyond the level of $8.077. The bearish price prediction range for FIL is between $2.721 to $2.161. FIL’s price could also reach $10.867 if it experiences an extremely bullish sentiment.

Filecoin (FIL) Price Prediction – Resistance and Support Levels

FIL recently touched the Support, however, started trading above the support zone. If FIL continues to maintain this bullish trend, then, it could soon reach the Resistance 1 level and trade even beyond $30.59. If FIL breaks the Resistance 1 level, then, it could also reach the Resistance 2 level over time, which is considered bullish. However, if FIL faces a bearish trend over time, then, it could fall to the Support and could trade even below the Support region. 

Filecoin (FIL) Price Prediction 2024 

Filecoin (FIL) price can rise to incredible heights, peaking at $16.6. This is only feasible if the market continues its upward path and only if FIL breaks through the past psychological resistance levels.

Filecoin (FIL) Price Prediction 2025

FIL prices might grow to $24 during the next three years. Furthermore, hitting this level may not be so tough for FIL because the new medium, short-term and long-term price objectives for purchase or sell orders, may be discovered.

Filecoin (FIL) Price Prediction 2026

FIL prices might grow to $38 during the next four years. Furthermore, hitting this level may not be so tough for FIL because the new medium, short-term and long-term price objectives for purchase or sell orders, may be discovered.

Filecoin (FIL) Price Prediction 2027

FIL prices might soar to $53.94 in the next five years. Furthermore, hitting this level may not be so tough for FIL as other mediums, short-term and long-term price objectives for purchase or sell orders, may be discovered. 

Filecoin (FIL) Price Prediction 2028

In the next six years, FIL prices could rise to $77. 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. According to the forecast, FIL has a strong chance of reaching the previous ATH.

Filecoin (FIL) Price Prediction 2029

In the next seven years, FIL prices could rise to $103. 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. According to the forecast, FIL has a strong chance of reaching the previous ATH.

Filecoin (FIL) Price Prediction 2030

In the next eight years, FIL prices could rise to $619.06. 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. According to the forecast, FIL has a strong chance of reaching the previous ATH.

Filecoin (FIL) Price Prediction 2040

According to our long-term FIL price estimate, FIL prices could reach a new all-time high this year. If the current growth rate continues, we could anticipate an average price of $308.7624 by 2040. If the market becomes bullish, the price of FIL may increase beyond our 2040 forecast.

Filecoin (FIL) Price Prediction 2050

According to our FIL forecast, the average price of Filecoin in 2050 might be above $679.2720. If more investors are drawn to FIL between these years, the price of FIL in 2050 could be far higher than our projection.

Conclusion

FIL has been part of the watch-out list for many investors as it aims to make its mark in the blockchain industry. If investors continue to show interest in FIL and add these tokens to their portfolio, then, it could continue to rise up. FIL’s bullish price prediction shows that it could pass beyond the $8.940 level. Moreover, FIL could surpass the $706.4429 level by the end of 2050. 

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. CoinEdition and its affiliates will not be held liable for any direct or indirect damage or loss.

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