Filecoin (FIL) price sits near $1.47 and the chart feels like it is replaying a story that long-time followers remember. Altcoin Pioneer on X points toward something striking on the 3-week timeframe. Price hovers around the same descending channel support that has guided every major cycle low since 2018. A clean, slanted boundary stretches from early trading years into 2025 and candles are once again touching that line.
A similar interaction with this support happened before the explosive run that carried FIL toward a +1,000% move during the 2020 cycle. The chart mirrors this structure. A clear Bottom 1 formed around $2.50 back in 2022. Another low, Bottom 2, is developing almost exactly along the same channel support now. These two points build a classic double-bottom shape. Altcoin Pioneer notes that this zone only appears when sellers are exhausted and when price action is compressing inside a wide macro channel.
FIL Token Sitting On Double Bottom Setup That Traders Watch Closely
Filecoin price behavior here leans on a pattern that could be considered one of the most reliable reversal signals. Volume sits around 2023 lows, which Altcoin Pioneer interprets as a sign of dwindling momentum from the downside. The neckline for this structure rests near $3.20. A sustained move through that level would complete the pattern and point toward the upper portion of the long descending channel.
FIL token history supports this type of compression. During the previous cycle, a similar squeeze produced a surge through the mid-range of the macro channel before shifting into a multi-month rally. RSI on the chart also lands near 28. This area previously marked conditions where longer-term holders re-entered. MACD histogram shows a soft curl upward, creating early divergence that typically forms at broader cycle lows.
Filecoin Token Testing The Same Conditions That Fueled Its Big 2020 Expansion
The chart from Altcoin Pioneer captures more than pattern recognition. It reflects how markets behave when a strong technical structure meets improving fundamentals. Filecoin advances in storage usage support that idea. Active deals grew more than +220% year-to-date and total value locked circles around $600M. These developments often strengthen a token’s base whenever price trades at multi-year support.
FIL token traded through prolonged compression phases before delivering its standout breakout in the past cycle. The current structure recreates the same blend of oversold readings, declining volume, and long-term support interaction that preceded that run. A break through $3.20 would target the mid-channel region between $4.50 and $8 during early movement. A stronger shift could open room for larger mid-cycle levels between $12 and $20 over time. Altcoin Pioneer mentions $1.40 as the key invalidation area for this idea. A monthly close below that point breaks the structure and voids the current double bottom narrative.
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Filecoin price movement rests inside a technical setup that previously signaled major trend shifts. The double bottom along a multi-year channel does not guarantee a repeat. It simply recreates an environment that once produced a powerful rally. FILl token traders often watch these moments closely because they blend structure, exhaustion, and history in one place.
Filecoin stands at a level where markets often decide on multi-month direction. The coming weeks reveal whether this setup transforms into a breakout or fades into another reset. The chart tells a compelling story either way, and the comparison to the 2020 structure gives this moment extra weight. Curiosity remains the strongest companion here as FIL approaches a technical crossroads once again.
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