- Filecoin’s long-term descending trendline breakout is signaling a potential sustained bullish momentum in the coming sessions.
- The current bullish flag formation indicates a continuation pattern above $2.7 and resistance forming around $3.4.
- Liquidity data shows strong accumulation between $1.8 and $2.1 supporting a renewed upward rally if $3.9 resistance breaks.
FIL recorded a 20.98% dip in 24 hours and is traded at $2.61 as of press.Despite this the token is up 52.87% this week, and seems to be building strength above the key trendline for a breakout towards $64.
Filecoin Maintains Strength Above Trendline
Filecoin’s price is holding above a long-term descending trendline on the daily chart. Trader EliZ described the phase as a “control structure” where the market consolidates before the next major move.
On lower timeframes a bull flag pattern with contracting volatility continuous absorption of selling pressure.This structure often precedes strong breakouts.
The recent breakout above indicates a shift from bearish to bullish conditions. The current trading zone near $2.79 is viewed as a crucial retest level.
Maintaining this zone could support a move toward $3.7 and possibly $6 in the coming sessions.Analysts however are cautioning that a close below $2.4 could negate the breakout and trigger renewed selling pressure toward $1.9.
Despite this risk, momentum remains on the buyers’ side as long as the price stays above the broken resistance level.
Short-Term Setup Indicates Bullish Continuation
The lower boundary near $2.7 serves as short-term support and a breakout above $3.3 could continue the bullish trend, and potentially send FIL toward $4.5 or $5.0. Conversely, losing $2.7 may result in a pullback toward $2.2–$2.4.
Overall, the chart structure resembles a bullish flag pattern, a formation often linked to trend continuation in strong markets. Traders are observing this consolidation for signs of accumulation before the next upward impulse.
Liquidity Data and Long-Term Outlook
The order book heatmap for FIL/USDT shows notable buy liquidity between $1.8 and $2.1, where previous rallies began. Bright orange zones on the chart indicate heavy concentrations of buy orders, suggesting solid demand in that area.
Resistance remains visible between $3.8 and $4.0, marking previous profit-taking zones.Analysts believe that maintaining liquidity in this range could support a recovery toward $3.0–$3.3.
If buying activity weakens, a deeper retest near $2.0 could occur before another major advance.Growing demand for decentralized data storage and AI infrastructure continues to strengthen Filecoin’s long-term market position.
