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- FIL coin is an open-source digital payment and a public cryptocurrency based on Data Retrieval Method and Cooperative digital storage.
- FIL coin was initially released on 15 July, 2014 but it came into the market in 2017. It was founded by Juan Benet.
Overall, the coin is down by 71.21%. In 2021, it performed well as it crossed the $100 mark. However, it could not continue along this trajectory and came down very quickly. It is currently facing a lot of selling pressure in the short-term period.
Price Forecast of FIL (2024-2030)
| Year | Minimum | Maximum |
| 2024 | $ 3.12 | $ 25.96 |
| 2025 | $ 9.48 | $ 22.50 |
| 2026 | $ 6.94 | $ 11.70 |
| 2027 | $ 7.52 | $ 18.47 |
| 2028 | $ 16.08 | $ 18.17 |
| 2029 | $ 17.35 | $ 32.71 |
| 2030 | $ 18.48 | $ 23.39 |
Allocation of FIL
- 5% is allocated to the Filecoin Foundation.
- 10.50% is allocated to the Protocol Labs.
- 4.50% is allocated to the PL team and Contributors.
- 2.50% is allocated to the fundraiser remainder.
- 7.50% is allocated to the SAFT 2017.
- 15% is allocated to the Mining Reserve.
- 55% is allocated to the Storage Mining Allocation.
Technical Analysis of FIL
Based on the chart analysis, the coin is moving in a range between a strong support level and a strong resistance level. The current price of the coin is near the green line. So, it might take support from the support level and move in the upward direction.
The chances of breakout are less as the coin is in a range. It is up by 2.01% in the one-day time frame.
As of the latest data, the Fear & Greed Index (F&I Index), for the FIL token stands at 46, categorizing the current market sentiment as “Fear.” This suggests that there is a cautious or bearish sentiment prevailing among FIL investors and traders. Additionally, over the past 30 days, FIL has experienced 17 out of 30 days with positive price movements. This indicates a somewhat bullish trend during this period. However, it’s important to note that the F&I Index takes into account a broader range of factors beyond recent price changes, such as social media sentiment, trading volumes, and market volatility.
In the 7-day time frame, the coin is in a bearish rally which means that it is continuously falling. The “Bearish Candlestick Pattern” appeared two times in a row. This indicates that the price might continue to fall in the future.
Its all-time high of $237 was formed on 1 April, 2021. Its all-time low of $2 was formed on 16 March, 2020.
Market information about FIL
The market capitalization of FIL is $1,490,523,782. Its market cap increased by 2.20%. The volume in 24 hours has decreased by 25.62% and the percentage is fluctuating. Its trading volume in the last 24 hours was $54,607,467. It is ranked 32nd out of the total 9,066 active cryptocurrencies in the world.
The liquidity percentage of FIL is 3.82%. Its total market supply is 1,961,339,080 FIL. The current circulating market supply is 451,623,532 FIL.
Live chart
Summary
The technical analysis assessment shows that the coin is in a downtrend.
A recovery is not likely because of its bearish momentum.
Technical Levels
Resistance Level- $4.7
Support Level- $3.2
Disclaimer
This is a general article that does not provide any financial or investment information. Investors should focus on both technical analysis as well as fundamental analysis. The analysis is done to provide information to readers. To make them aware of investments.
