Filecoin’s 2025 roadmap – How soon before FIL’s price hits $30?

Filecoin gained by over 2.13% in 24 hours after a retest on the weekly timeframe
IO-weighted funding rates and Bid & Ask Delta highlighted FIL’s potential to hit $30

As a seasoned crypto investor with over a decade of experience navigating the volatile digital asset landscape, I must say that the recent performance of Filecoin (FIL) has caught my attention. The 2.13% surge within 24 hours, following a retest on the weekly timeframe, was an encouraging sign for me and other FIL holders.

Despite a significant drop in its daily trading volume exceeding 30%, Filecoin (FIL) remains an appealing investment option as it registered a growth of 2.13% over the past 24 hours.

Indeed, Filecoin (FIL) or USDT witnessed a reversal when it surged beyond a prolonged descending triangle formation, a technical pattern known as a falling wedge. This surge propelled FIL past its brief resistance levels, eventually leading to a retest of the breakout point – a strong indication suggesting bullish sentiment.

In simpler terms, the recent surge in FIL’s price has set a new floor (a level from which it is expected to bounce back), a level that used to act as a barrier for growth during the period of sideways movement within the wedge formation. The $5.60 mark was identified as an ideal moment to enter, given its previous role as a resistance and the price drop since then.

Should the positive trend continue, a potential price of $30 could become achievable. This suggests a substantial increase compared to its current value at the moment.

Furthermore, the strong push behind the breakout indicates that Filecoin (FIL) may go beyond our projected intermediate goal, provided that market circumstances continue to be advantageous.

Open Interest and Bid & Ask Delta

Throughout the year, changes in funding rates based on Open Interest (OI) showed a clear trend. These rates spiked significantly during periods of rising prices, demonstrating that traders were ready to overpay for maintaining long positions.

Despite not always increasing steadily, the Open Interest displayed occasional surges that aligned with market uptrends, suggesting a rising level of trader engagement or commitment.

Based on the Bid & Ask Delta, purchasing activity significantly outweighed selling, although there were instances where the trading landscape was distorted. Interestingly, the recent retest has observed a doubling of buying volume compared to the past fortnight.

Based on these indicators, there appears to be a tentative sense of hope among traders that Filecoin (FIL) might reach the price level of $30.

Even though there aren’t consistently strong signs pointing towards it, the robustness seen in specific timeframes may still drive FIL towards the stated goal.

FIL TVL, volume, market cap and FDV

As an analyst, I noticed a significant increase in the Total Value Locked (TVL) within Filecoin, reaching approximately $425.81 million. This growth suggests heightened protocol usage and a boost in investor trust, signifying potential positive developments for the network.

Although the trading volume was relatively low at approximately $196,122 within a 24-hour period, it indicated significant engagement, even if it fell short in comparison to other cryptocurrencies.

As an analyst, I’ve noticed that the market capitalization of Filecoin (FIL) currently stands at approximately $4.13 billion, underscoring its substantial influence within the cryptocurrency sector. This robust position is further reinforced by a Fully Diluted Valuation (FDV) of around $13.244 billion.

The upward trajectory in the cumulative TVL, despite fluctuations, pointed to growing interest and potential stability in FIL’s ecosystem.

This could mean that if the trend sustains itself, Filecoin might realize further appreciation in value, potentially the $30-level and utility.

2024-12-15 10:15

Open Interest and Bid & Ask Delta

FIL TVL, volume, market cap and FDV

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