Filecoin Price Prediction 2021 – Will FIL Hit $173 Soon?

Filecoin is one of the most hyped distributed storage protocols of 2017, and it’s currently trading close to $0.70, with a market cap of over $1 billion. The protocol promises to create a decentralized cloud storage market that’s cheaper, more secure, and more reliable than today’s cloud storage market. Filecoin’s native token, FIL, has also seen massive growth this year, gaining over 1,000% in value.

decentralized file storage network platform, Filecoin has been in the news a lot recently. Thoughts on the future of Filecoin have been plentiful. Filecoin is an open source protocol for a decentralized network of storage nodes. Filecoin is a good candidate for a good investment, if you can get a hold of some. This is a bold prediction but if I’m wrong, I’ll eat some crow. [Wrote this in the morning, sent it out to the whole team at 8:30. Immediately, I hit my phone on the table and heard a crash. It hit the tile floor and broke into four pieces, requiring me to buy a new phone. I’m still in shock.]

The range of bullish FIL price predictions is $54.28 to $170.76.
The price of FIL may potentially hit $173 in the near future.
FIL forecasts a negative market price of $40.15 in 2021.

We utilize data, price trends, ADX, and other information about FIL to evaluate the cryptocurrency’s future movement in Filecoin (FIL) price forecast 2021.

The Interplanetary File Storage Protocol underpins Filecoin, a decentralized storage network (IPFS). Its goal is to make use of spare storage space in the worldwide storage market, enabling customers to pay for low-cost storage.

The aim is to offer file storage that is both permanent and distributed. When compared to centralized cloud storage services like Amazon Web Services, Google Cloud, or Dropbox, where data is kept on the servers of these private businesses, there is a significant difference. FIL is also the decentralized storage network’s money.

Filecoin’s Current Market Situation (FIL)

Filecoin (FIL) is now trading at $50.2, with a 24-hour trading volume of $463,477,902, according to CoinGecko. FIL, on the other hand, has risen by 0.6 percent in the past 24 hours.

Furthermore, there are 91,552,350 FIL in circulation. FIL now trades on Binance, Huobi Global, Coinbase Exchange, Gate.io, and Kraken, among other cryptocurrency exchanges.

Price Forecast for Filecoin (FIL) in 2021

Filecoin (FIL) is currently ranked 26th on CoinGecko. The price of FIL in 2021 is forecasted using a daily time period, as shown below.

Pattern of the FIL/USDT Flag (Source: TradingView)

A flag pattern is a chart continuation pattern in which candlesticks are arranged in a tiny parallelogram. It’s an accumulation zone that indicates a counter-trend move following a significant price change. Traders may join the market in the midst of a trend using a flag pattern.

If the bullish trend continues, the FIL may hit $173 on the daily time frame chart. Otherwise, if the FIL price breaks through the $54.2 resistance level, it would fall to the next support level at $40.15. As a result, the FIL’s trend is predicated on the breakout.

Support and Resistance Levels for Filecoin (FIL)

The chart below depicts FIL’s support and resistance levels.

Support and Resistance Levels for FIL/USDT (Source: TradingView)

The resistance and support levels of FIL are clearly visible in the above daily time frame.

$66.72 is the first level of resistance.
Level 2 Resistance – $100
$170.76 is the third level of resistance.
Level 1 Support – $39.5
Level 2 Support – $31

FIL has been on a positive trend for the last month, according to the charts. If the current trend continues, FIL may catch up with the bulls and break over the $170 resistance level.

In the event that investors turn against crypto, the price of FIL may fall to almost $31, indicating a negative warning.

Average Directional Index for Filecoin (FIL) (ADX)

Let’s take a look at FIL’s average directional index (ADX). The ADX indicator aids traders in determining the strength of a trend rather than its exact direction. It may be used to see whether the market is shifting or if a new trend is about to emerge. It does, however, have a connection to the Directional Movement Index.

Furthermore, the oscillators have a range of 0 to 100. A high number also suggests a strong trend, while a low value shows a weak trend. It’s often used in tandem with direction indicators.

ADX FIL/USDT (Source: TradingView)

The ADX of FIL remains above the range of 24.7 in the chart above, indicating a weak trend.

Conclusion

FIL is one of the cryptos that has managed to hold its footing in a negative environment. Our long-term FIL price forecast for 2021 is also positive. This year, it has a good chance of surpassing its current all-time high (ATH) of $236. However, this will only happen if FIL is able to overcome numerous previous psychological barriers.

Furthermore, the FIL ecosystem may have a bright future ahead of it in 2021, because to continuous improvements and enhancements. It may soon hit $100 and even higher levels, but it is more likely to reach $173 if investors believe FIL is a solid investment in 2021.

Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.

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Filecoin is a cryptocurrency with a decentralized storage i.e. blockchain. Filecoin uses the same distributed computing model as Bitcoin to record, store and manage data. Filecoin is based on Ethereum, which means it is an ERC20 token. The token will initially be used for creating data storage services.. Read more about filecoin price prediction tomorrow and let us know what you think.

Filecoin is a cryptocurrency that has been in development for quite some time now. It is designed to be used as an incentive system for decentralized storage, and it will likely be worth more in the future."}},{"@type":"Question","name":"What is Filecoin worth in 2025?","acceptedAnswer":{"@type":"Answer","text":" Filecoin is worth $1,868."}},{"@type":"Question","name":"How much is Filecoin worth?","acceptedAnswer":{"@type":"Answer","text":" Filecoin is currently worth Answer3.0035"}}]}