Filecoin Flips Key Resistance to Support, Poised for Bullish Continuation

Filecoin effectively reversed the $3.05–$3.15 resistance area into an area of support, reflecting good bullish sentiment and clearing the way for a potential breakout.

Both the 9-day EMA and the 50-day SMA are trending upwards, both verifying the bullish setup and strengthening the anticipation of prices going up further.

Binance top traders' long position ratio on $FIL is 81.48%, indicating growing institutional confidence and strong market sentiment for future gains.

Filecoin (FIL) is consolidating above former resistance levels, forming a technical structure that suggests growing bullish momentum in the near term.

Key Resistance Flipped Into Support

Filecoin has shifted sentiment after breaking through the $3.05–$3.15 resistance range, now acting as a solid support zone. According to Alpha crypto signal, the horizontal level has been successfully flipped, with $FIL consolidating just above it. This price action often reflects a transition from selling pressure to active accumulation.

The intraday chart is depicting steady action above the breakout level and confirms that buyers are still in control. Both the 50-day SMA and the 9-day EMA are supported by the consolidation and are moving up. The 9-day EMA is in close proximity with the current price and forms the dynamic support. Gradually rising volume suggests accumulation by market participants rather than distribution.

Technical Structure Points to Potential Upside

The structure on the daily timeframe reflects a classic continuation pattern. The price action shows a sequence of higher lows, tight consolidation, and steady closes above support. Traders view such setups as constructive for a potential breakout move if market interest remains steady.

Price action remains above both moving averages, strengthening the bullish trend. The current focus is on a possible move above the $3.28–$3.30 range. A close above this level may indicate a fresh rally leg, especially if supported by increasing volume and buyer strength.

Despite a 2.04% intraday decline, Filecoin maintains a 20.92% gain over the past 7 days. The current price stands at $3.08 with a 24-hour trading volume of $211.08 million.

Traders Show Confidence in Bullish Continuation

Trader sentiment also supports the current structure. CW (@CW8900) noted that Binance top traders hold an 81.48% long position ratio in $FIL. This suggests strong market expectation for price appreciation and increased demand.

The rising trend in long positions reflects growing confidence among informed traders. If current support holds, Filecoin could soon test the upper range, offering a breakout setup for momentum participants.

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