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MainNewsFilecoin Pri...

Filecoin Price Skyrockets amid Upbit Listing Announcement: What’s Next for FIL?


Apr, 04, 2025
3 min read
by Parth Dubey
for Coinspeaker
Filecoin Price Skyrockets amid Upbit Listing Announcement: What’s Next for FIL?

Coinspeaker
Filecoin Price Skyrockets amid Upbit Listing Announcement: What’s Next for FIL?

Filecoin FIL $2.79 24h volatility: 2.7% Market cap: $1.83 B Vol. 24h: $517.66 M saw an immediate 7.11% spike after Upbit, South Korea’s largest cryptocurrency exchange, listed the token on its platform. At the time of writing, FIL has stabilized around $2.88.

The listing, which occurred on April 4 at 16:30 KST, introduced FIL trading pairs against the Korean won (KRW). This opened the token to a larger base of South Korean investors.

Notably, the exchange has imposed several trading restrictions to prevent market manipulation. For the first five minutes after the listing, new buy orders were limited. Additionally, sell orders with prices 10% lower than the previous closing price would be restricted.

For an hour after launch, traders were only able to place basic orders, as more complex trading strategies remained temporarily disabled. The exchange has also restricted deposits to the Filecoin network.

FIL Price Outlook

Following the listing announcement, FIL’s market capitalization increased by 5% to $1.86 billion, as per the data by CoinMarketCap. On the 4-hour price chart, the MACD indicator shows signs of a potential trend reversal.

The MACD line has just crossed above the signal line, suggesting that upward momentum could continue. However, traders should keep an eye on histogram as FIL may face resistance if it turns negative.

The Bollinger Bands reveal massive volatility. FIL’s price spiked above the upper band, suggesting overbought conditions that often lead to retracements. If the price stabilizes near the mid band (20-day SMA), it could indicate a period of consolidation before the next move.

Meanwhile, the RSI currently hovers around 56, signaling moderate bullish strength. This suggests that FIL can still move upwards. However, a major spike in RSI indicate an overbought scenario, potentially leading to a pullback.

FIL is currently facing resistance at $3.00, a psychological level that has proven difficult to break. If FIL breaks this level sustainably, it could aim for the next resistance at $3.20.

On the other hand, in the short-term, support is forming around $2.75. A breakdown below this could result in a deeper retracement toward $2.50.

Filecoin’s Growing Adoption

Beyond price action, Filecoin’s fundamentals remain strong. According to Chain Broker, Filecoin saw a 305% surge in development activity, ranking it among the top projects in the Decentralized Physical Infrastructure Network (DePIN) sector.

Moreover, crypto investor Ucan noted that FIL was among the most mentioned DePIN projects on social media in March, alongside Internet Computer (ICP) and Render (RNDR).

Filecoin Price Skyrockets amid Upbit Listing Announcement: What’s Next for FIL?

Read the article at Coinspeaker

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Filecoin Price Skyrockets amid Upbit Listing Announcement: What’s Next for FIL?


Apr, 04, 2025
3 min read
by Parth Dubey
for Coinspeaker
Filecoin Price Skyrockets amid Upbit Listing Announcement: What’s Next for FIL?

Coinspeaker
Filecoin Price Skyrockets amid Upbit Listing Announcement: What’s Next for FIL?

Filecoin FIL $2.79 24h volatility: 2.7% Market cap: $1.83 B Vol. 24h: $517.66 M saw an immediate 7.11% spike after Upbit, South Korea’s largest cryptocurrency exchange, listed the token on its platform. At the time of writing, FIL has stabilized around $2.88.

The listing, which occurred on April 4 at 16:30 KST, introduced FIL trading pairs against the Korean won (KRW). This opened the token to a larger base of South Korean investors.

Notably, the exchange has imposed several trading restrictions to prevent market manipulation. For the first five minutes after the listing, new buy orders were limited. Additionally, sell orders with prices 10% lower than the previous closing price would be restricted.

For an hour after launch, traders were only able to place basic orders, as more complex trading strategies remained temporarily disabled. The exchange has also restricted deposits to the Filecoin network.

FIL Price Outlook

Following the listing announcement, FIL’s market capitalization increased by 5% to $1.86 billion, as per the data by CoinMarketCap. On the 4-hour price chart, the MACD indicator shows signs of a potential trend reversal.

The MACD line has just crossed above the signal line, suggesting that upward momentum could continue. However, traders should keep an eye on histogram as FIL may face resistance if it turns negative.

The Bollinger Bands reveal massive volatility. FIL’s price spiked above the upper band, suggesting overbought conditions that often lead to retracements. If the price stabilizes near the mid band (20-day SMA), it could indicate a period of consolidation before the next move.

Meanwhile, the RSI currently hovers around 56, signaling moderate bullish strength. This suggests that FIL can still move upwards. However, a major spike in RSI indicate an overbought scenario, potentially leading to a pullback.

FIL is currently facing resistance at $3.00, a psychological level that has proven difficult to break. If FIL breaks this level sustainably, it could aim for the next resistance at $3.20.

On the other hand, in the short-term, support is forming around $2.75. A breakdown below this could result in a deeper retracement toward $2.50.

Filecoin’s Growing Adoption

Beyond price action, Filecoin’s fundamentals remain strong. According to Chain Broker, Filecoin saw a 305% surge in development activity, ranking it among the top projects in the Decentralized Physical Infrastructure Network (DePIN) sector.

Moreover, crypto investor Ucan noted that FIL was among the most mentioned DePIN projects on social media in March, alongside Internet Computer (ICP) and Render (RNDR).

Filecoin Price Skyrockets amid Upbit Listing Announcement: What’s Next for FIL?

Read the article at Coinspeaker

Read More

Is Korea Propping Up The XRP Price? Pundit Explains What’s Happening

Is Korea Propping Up The XRP Price? Pundit Explains What’s Happening

A crypto analyst has shared insights into the recent strength in the XRP price, sugge...
Apr, 05, 2025
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New Insights Suggest Bitcoin Dominance May Influence Altcoin Trends

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Bitcoin dominance changes may signal a new altcoin season. The 71% threshold is cruci...
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