Filecoin’s price exploded more than 60% in 24 hours, reaching around $2.21 on November 7, as the decentralized storage pioneer benefited from a wave of renewed interest in… DePIN infrastructure and enterprise blockchain integrations.
The move represents one of the strongest weekly gains among the top 100 crypto assets, with FIL up 47% over the past seven days and trading volume increasing 740% to $1.33 billion, according to CoinMarketCap data.
The rise also comes at a time when a coordinated hack of the sector is underway via Decentralized Physical Infrastructure (DePIN) networks, with Filecoin remaining one of the most active ecosystems in terms of development activity.
Why Filecoin Is Soaring Today: DePIN and Institutional Adoption
The latest Filecoin news is that the Filecoin Foundation has partnered with the GSR Foundation to fund projects that promote decentralized storage for arts, science, and human rights, with the goal of creating a trusted data infrastructure.
Furthermore, the DePIN sector rose 10.9% on November 7, supported by infrastructure tokens including Filecoin, Arweave, and Render.
The event precedes DePIN Day in Buenos Aires (November 18), where Filecoin partners, including Protocol Labs, will discuss decentralized data infrastructure and enterprise integration.
Filecoin price prediction
Traders also reacted to technical momentum. After weeks of consolidation, FIL broke through the $2.0 resistance level, with analysts noting that “the real rally starts after $2.6,” according to trader CW. High volume and a strong bullish candle confirm renewed investor confidence.
Technical indicators support the bullish sentiment. On TradingView, Filecoin’s RSI is hovering near 66, indicating strong momentum but not in overbought territory yet. The MACD turned positive, and the moving averages across the major time frames turned into buy signals.
Devilama data It shows Filecoin’s DeFi TVL rising 50.6% in 24 hours to $27.5 million, led by protocols like GLIF and Parasail, indicating a revival of staking activity and on-chain liquidity.
In addition, cryptocurrency analysts are increasingly bullish on Filecoin crypto. Trader CryptoBull_360 Informed followers FIL is exiting the downtrend and could rise 150-200% over the next few weeks if trading volume remains strong.
The nearest resistance level is around $2.6. If the buying continues, the next targets could be between $3.2 and $3.5. A daily close above $2.6 may indicate a shift in market direction. However, if it fails to stay above $2.0, it may fall back to the $1.7 support level.
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