Filecoin (FIL) experienced an immediate 7.11% price surge following its listing on South Korea’s largest cryptocurrency exchange, Upbit, on April 4, 2025. At the time of writing, FIL has stabilized around $2.88, up from its initial spike to $2.79. The listing introduced FIL trading pairs against the Korean won (KRW), making it accessible to a larger base of South Korean investors.
Upbit’s listing of FIL came with several trading restrictions aimed at preventing market manipulation. For the first five minutes, new buy orders were limited, while sell orders that were 10% lower than the previous closing price were restricted. For an hour following the listing, only basic orders were allowed, and more complex trading strategies remained disabled. Additionally, deposits to the Filecoin network were restricted, ensuring a smooth trading environment during the initial launch.
FIL Price Outlook: Potential for Upward Momentum
Following the listing announcement, FIL’s market capitalization rose by 5%, reaching $1.86 billion, according to CoinMarketCap. Technical indicators on the 4-hour chart show promising signs of upward momentum. The MACD line has crossed above the signal line, hinting at a potential trend reversal to the upside. However, traders should watch for any negative movement in the histogram, which could signal resistance ahead.
The Bollinger Bands show heightened volatility, with FIL’s price spiking above the upper band, indicating overbought conditions. If FIL stabilizes near the 20-day SMA (mid-band), it could undergo a period of consolidation before the next move. The RSI stands at 56, suggesting moderate bullish strength, but an overbought scenario could lead to a pullback.
FIL faces resistance at $3.00, a crucial psychological level. Breaking this level could push FIL towards $3.20. Conversely, support is forming around $2.75, with a breakdown potentially leading to a retracement toward $2.50.
Filecoin’s Growing Adoption
Beyond price fluctuations, Filecoin’s fundamentals remain strong. The project has seen a 305% surge in development activity, positioning it among the top decentralized projects in the DePIN sector. Additionally, FIL was one of the most discussed DePIN tokens on social media in March, further solidifying its growing adoption.
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— Chain Broker 🇺🇦 (@chain_broker) April 2, 2025
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Filecoin (FIL) Set for 3,500% Surge: Analysts Predict 36x Growth to $190 in 2025
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
