Multiyear Filecoin (FIL) Price Breakout Set For 5x Leap

The price of Filecoin (FIL) has surged over 25% in the past seven days, making it one of the best performers among the top 100 cryptocurrencies.

The token dropped to lows of $2.00 during the crypto market crash of early 2024. However, it has staged a remarkable recovery since then.

This breakout has attracted the attention of several analysts, including @WorldOfCharts1. He highlighted the significance of this technical milestone, especially after FIL pierced the $6 level.

The analyst anticipates a mid-term rally that could propel the token toward the $30 price target.

A striking correlation emerged between the Bitcoin and Filecoin price movements in the daily charts, particularly during the pivotal moments of November 2024.

Following Donald Trump’s election victory, Bitcoin and altcoins like FIL experienced a remarkable surge.

FIL peaked at $8.50, while Bitcoin soared to an all-time high of $108K. However, as profit-taking ensued, both assets underwent a retracement in December 2024. They retreated to their strongest support levels.

Despite this temporary decline, the narrative shifted dramatically as 2025 unfolded. Both assets staged a robust recovery, breaking free from the constraints of their prior corrections.

The expectations of pro-crypto policies forged under the new administration have ignited hope and suggested a favorable environment for assets like Filecoin crypto. This was coupled with ongoing positive developments across altcoin ecosystems.

Multiyear Fliecoin Price Breakout Set For 5x Leap

Analyst @WorldOfCharts1 highlighted that the Filecoin price has made a decisive move—it broke out of a multi-year symmetrical triangle.

This key technical pattern often signals the onset of significant price rallies.

This breakout was more than just a technical milestone. Moreover, it represented a pivotal shift in FIL’s market dynamics.

The breakout above the $5.50 – $6.00 resistance zone was followed by a successful retest of the triangle’s breakout level. This retest not only validated the breakout but also established a higher high. That signaled the end of FIL’s prolonged downtrend and the start of a bullish phase.

Such a shift underscored a transition from bearish sentiment to bullish momentum. This sets the stage for a potential mid-term rally toward the $30 mark.

Symmetrical triangles are renowned among traders for their reliability in forecasting price movements. In Filecoin crypto’s case, the breakout aligns with this historical pattern.

This projects an upside move that could shoot a staggering 400 – 500% rally from current levels. Analysts who believe FIL remains significantly undervalued at its current price further supported the bullish projection.

Filecoin’s price technical strength and improved market sentiment presented a tempting picture for investors interested in its long-term potential. The path to $30 could redefine FIL’s position within the crypto landscape.

Rising Open Interest, liquidations, and TVL

Since the starting days of 2025, the Filecoin price has experienced a surge in market activity that reflected growing investor interest and a bullish outlook among traders.

In just a week, open interest in FIL has jumped from $240 million to $365 million, indicating significant capital inflows into the market. This surge showcases the increased confidence in the Filecoin price trajectory.

On Binance, the FIL/USDT long-to-short ratio stood at 3.7551, revealing a strong preference for long positions over short ones. This imbalance underscored traders’ optimism about FIL’s potential for further upside.

Over the past 24 hours, total liquidations reached $1.25 million for longs and $1.41 million for shorts, demonstrating heightened trading activity and volatility.

The bullish sentiment isn’t limited to trading metrics. The Total Value Locked (TVL) within the Filecoin ecosystem has seen impressive growth. It climbed from $67.69 Million to $91.12 Million at the start of the new year.

This uptick in TVL pointed to increased adoption and activity within Filecoin’s network, further solidifying its appeal among market participants.

With rising futures interest, a positive long-short ratio, and rising TVL, Filecoin’s market momentum is set to continue. Traders and investors alike are watching closely as FIL positions itself for potential gains in 2025.