FIL/USDT — Bearish Continuation vs Potential Reversal?Currently, Filecoin (FIL) is trading at a critical decision point on the daily timeframe. The chart shows a clear descending triangle pattern, formed by a downtrend resistance line and a horizontal support zone around $1.96 – $2.28.
This pattern is typically seen as a bearish continuation, but it can also trigger a strong reversal breakout if price breaks above resistance with significant volume. In short, the market is now at a make-or-break zone — either a breakdown to new lows or a bullish breakout that could spark a strong rally.
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🔎 Pattern Details & Key Levels
Pattern: Descending Triangle (lower highs + flat support)
Major Support Zone: $1.96 – $2.28 (strong demand zone, price has bounced multiple times)
Dynamic Resistance: descending trendline pressing since early 2025
Static Resistance Levels: $2.737 – $3.094 – $3.537 – $4.832
Psychological Levels above: $6.0 – $8.0
Measured Move Targets (triangle height):
Upside breakout = ≈ $3.51
Downside breakdown = ≈ $1.19
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✅ Bullish Scenario
Trigger: Daily close above the descending trendline + confirmed breakout above $2.737 with strong volume.
Additional confirmation: Successful retest of trendline / $2.737 as new support.
Targets:
Short-term: $3.09
Primary measured move: $3.51
Extended targets: $3.53 – $4.83 (if momentum continues)
Upside potential: From $2.28 → $3.51 = +53.6%
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❌ Bearish Scenario
Trigger: Daily close below $1.964 with convincing volume.
Additional confirmation: Failed retest of $1.96 as resistance.
Targets:
Primary measured move: ≈ $1.19
Psychological area: $1.00 (potential liquidity zone)
Downside risk: From $2.28 → $1.19 = -47.8%
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📌 Conclusion
FIL/USDT is at a major crossroad.
Holding the $1.96–$2.28 support + breakout above the trendline opens the door to $3.51 and potentially $4.83.
Losing this support would confirm a bearish breakdown towards $1.19.
Best approach: Wait for daily close + volume confirmation to avoid false breakouts/breakdowns.
⚠️ Disclaimer: This analysis is for educational purposes only, not financial advice. Always apply proper risk management.
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> FIL/USDT is now testing a decision zone with a descending triangle pattern on the daily chart.
Bullish case: Breakout above $2.737 → targets $3.09 to $3.51
Bearish case: Breakdown below $1.964 → target $1.19
$1.96 – $2.28 remains the critical support — either the last defense before a deeper drop, or the launchpad for the next rally.
🚨 Watch for daily close & volume to confirm the move!
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