The price of Filecoin (FIL) is near $1.47 and the chart feels like it's retelling a story that long-time followers remember well. A leading altcoin on X points out something notable in a 3-week timeframe. The price is hovering around the same support of the descending channel that has guided every major drop since 2018. A clean angled limit extends from early trading years to 2025, and the candles touch that line again.
A similar interaction occurred with this support before the explosive surge that carried FIL towards a +1,000% movement during the 2020 cycle. The chart reflects this structure. A clear bottom 1 formed around $2.50 in 2022. Another bottom, bottom 2, is developing nearly along the same channel support now. These two points build a classic double bottom shape. The altcoin leader indicates that this area only appears when sellers are exhausted and when the price action is compressed within a wide macro channel.
The FIL token sits on a double bottom setup that traders are closely watching
Filecoin's price behavior here tends to pattern that can be considered one of the most reliable reversal signals. Volume is hovering around the lows of 2023, which Altcoin Pioneer interprets as a sign of waning momentum from the downside. The neckline for this structure is near $3.20. Sustained movement through that level will pattern and direct towards the upper part of the long-term descending channel.
@AltcoinPiooners / X
The historical performance of the FIL token supports this type of pressure. During the previous cycle, similar pressure led to a surge through the middle range of the total channel before moving to a high over several months. Also, the RSI on the chart is nearing 28. This area has previously indicated conditions where long-term holders re-entered.
Testing the Filecoin token under the same conditions that fueled its significant expansion in 2020
The chart from Altcoin Pioneer captures more than just pattern recognition. It reflects how markets behave when a strong technical structure meets improving fundamentals. Filecoin's advancement in storage usage supports this idea. Active trades have grown by over +220% since the beginning of the year, and the total value locked hovers around $600 million. These developments often strengthen the token's base whenever the price trades at multi-year support.
The FIL token traded through prolonged pressure phases before presenting a notable explosion in the last cycle. The current structure recreates the same mix of overbought readings, reduced volume, and long-term support interaction that preceded it. Breaking the $3.20 level will target the mid-channel area between $4.50 and $8 during the early movement. A stronger shift may open the field for larger levels in mid-cycle between $12 and $20 over time. Altcoin Pioneer mentions $1.40 as the key invalidation area for this idea. A monthly close below that point breaks the structure and nullifies the current narrative of the double bottom.
Read also: The price pattern of Cardano ($ADA) indicates an explosion in the first quarter of 2026
The price movement of Filecoin is within a technical setup that previously indicated significant directional changes. The double bottom along a multi-year channel does not guarantee a repeat. It merely recreates an environment that once produced a strong rally. Traders of the FIL token often watch these moments closely as they combine structure, exhaustion, and history in one place.
Filecoin stands at a level where markets often decide the direction over several months. The coming weeks will reveal whether this setup will lead to an explosion or fade into another reset. The chart tells an exciting story regardless of the direction, and the comparison to the structure in 2020 adds additional weight to this moment. Curiosity remains the strongest force here as FIL approaches another technical crossover.
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The FIL Price Post Is Flashing The Same Signal That Triggered a 1,000% Rally: Will Filecoin Do It Again? First appeared on CaptainAltcoin.$FIL