Filecoin (FIL) is showing signs of renewed strength after a recent pullback in its price.
The token is currently trading around $1.02, bouncing off key support levels that have historically attracted buyers.
This move comes after FIL experienced a short-term correction, which many analysts now view as a healthy retracement after surging to an intraday high of $1.10.
These Fibonacci levels offer key insight
Technical charts reveal that FIL has respected important Fibonacci retracement levels during this correction.
The 0.5 and 0.618 retracements, sitting at $0.986 and $0.958, form a critical zone where buyers often step in.
FIL briefly dipped toward this cluster and immediately showed buying pressure, suggesting that investors see value in the token at these levels.
The 0.382 retracement at $1.00 acted as a secondary support, while the deeper 0.786 level at $0.910 provided a floor during the pullback.
These levels together create a clear retracement structure, and the fact that FIL has held above the 0.5–0.618 zone indicates that the market still favours upward momentum.
Price action around these levels is encouraging because it shows buyers defending the structure, preventing FIL from sliding further.
When such retracement levels hold, it often signals a continuation of the previous trend, in this case, a bullish recovery.
Filecoin price outlook
FIL’s market data supports this technical perspective.
The trading volume in the last 24 hours has jumped to around $273 million, reflecting strong liquidity and ongoing interest from investors.
Also, despite being down significantly from its all-time high of $236.84, FIL has shown resilience in recent weeks, with a seven-day gain of 8.7%.
This price movement aligns with the technical setup, indicating that the token may continue climbing in the near term.
The immediate upside target for FIL is around $1.17, representing the next major resistance level.
A sustained hold above the $0.958–$0.986 retracement zone would confirm that buyers are confident, making the move toward $1.17 more likely.
If momentum continues to build, analysts believe that Filecoin’s price could reclaim further gains, testing psychological levels and longer-term resistance levels like $1.98.
Traders should watch the $0.958–$0.986 price range closely, as it serves as a pivot for bullish strength and a potential entry point for those looking to participate in the rally.
The combination of solid buying interest, a clearly defined Fibonacci structure, and strong trading activity sets the stage for a meaningful move higher.
If the key support levels hold firm, the path toward $1.17 appears realistic, offering optimism for short-term gains in the market, especially as other altcoins including Bittensor rebound.
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