Filecoin bullish bounce: Fibonacci signal potential move to $1.17

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.