Filecoin has broken out of a falling wedge after weeks of slow, steady declines, a pattern traders often associate with the end of a correction.
It may be early, but this move has already sparked new optimism, and some analysts now believe a fresh rally could be forming.
The FIL price is currently trading near $1.65, and for the first time in a while, the chart doesn’t look like it’s drifting aimlessly. Buyers are beginning to step back in, and momentum feels like it’s shifting.
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FIL Breaks Out of a Falling Wedge, and Traders Are Noticing
Analyst CW pointed out that FIL’s breakout from the wedge is the key development here. Throughout November, the FIL price kept sliding but did so within narrowing trendlines, almost like pressure was building.
Once FIL finally pushed through the upper boundary, sellers lost control, and the market flipped slightly in favor of buyers.
A breakout alone doesn’t guarantee a massive rally, but historically, this pattern often leads to trend reversals, especially if volume increases over the next few days. For now, it’s enough to make traders show interest again.
Could Filecoin Become a Surprise Winner?
Some analysts are far more bullish than others. StephisCrypto shared a weekly chart showing the FIL price sitting inside what he considers a long-term “buy zone.”
According to him, this could be the kind of setup that turns early buyers into millionaires over the next three months. It’s obviously a bold take, and no one can guarantee that outcome, but it reflects growing sentiment that FIL may be undervalued.
Despite its long downtrend, Filecoin remains one of the most recognized decentralized storage networks in the industry, and supporters argue its fundamentals haven’t disappeared, even if the price has.
Read Also: Filecoin (FIL) Forms Rare Bullish Setup: Could This Be the Final Turning Point?
The Next Crucial Test for FIL
For this breakout to grow into a sustained rally, FIL will likely need to reclaim levels like $2.00 and later $2.60 and $3.00.
Those zones acted as resistance before, and breaking above them would strengthen the bullish case. If momentum continues building, analysts indicate $4.00–$5.00 could come back into play.
But nothing is confirmed yet. If the FIL price slips back into the failing wedge or loses the current support, then the bullish narrative is weakened, and the correction can continue.
What’s Next for FIL?
After months of trending lower, something positive is finally happening on the Filecoin chart.
That will depend on follow-through, volume, and broader market conditions as to whether this becomes a large reversal or just a temporary bounce.
For the moment, the price of FIL has regained momentum, and traders remain very attentive to where it will go next.
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