Filecoin ($FIL) Price Surge Faces $3 Resistance Amid Upbit Listing and Market Volatility

• Analysts predict resistance at $3 after the recent 11.22% surge.
• Increased liquidity and market interest are expected to drive $FIL’s momentum.

Filecoin ($FIL) has witnessed a dramatic surge recently, with its price climbing by 11.22% on April 4, 2025. This sharp increase came after relative stability, as $FIL jumped from around $2.65 to $3.46, sparking investor interest. However, at the time of writing, the cryptocurrency trades at $2.74, reflecting a 4.16% decrease over the last 24 hours. 

Ali Martinez Highlights Price Surge

Renowned analyst Ali Martinez weighed in on the price action, noting the significant surge in Filecoin’s price. According to Martinez, the price spike from $2.65 to $3.46 marks a key point in Filecoin’s trading history, showing the cryptocurrency’s potential for sharp movements. 

Analyzing the chart, he observed an almost vertical climb, signaling a break from previous downward trends. This sudden rise has raised curiosity among investors, and Martinez’s analysis suggests that market sentiment will be critical in determining whether the momentum will persist.

Santiment Data Signals Strong Market Reaction

Filecoin’s price movement comes from Santiment’s data, which tracks volume. Before April 2, $FIL had been trading in a stable range between $2.65 and $2.80, with moderate volume. However, from April 2 onwards, the price and trading volume sharply increased. By April 5, $FIL reached $2.77, continuing its upward trajectory, with a consistent volume of 264.68 million.

Source: Santiment 

Santiment’s chart indicates that the most significant price spike occurred on April 4, when $FIL surged to its highest level, accompanied by the highest recorded volume. This sharp increase in volume suggests that the market is responding positively, with increased demand likely playing a key role. 

Price Analysis: Upbit Listing and Market Dynamics

Filecoin’s recent surge can also be partially attributed to the listing of the KRW pair on Upbit, a major South Korean exchange. According to analysis by altcoinaction, this listing has triggered a 28%-30% short-term spike, with Filecoin’s price reaching $2.90-$2.91. The surge in volume, which came between $440 million and $463 million, indicates fresh liquidity entering the market, primarily driven by South Korean investors.

FileCoin 1Day Chart | Source: TradingView

Despite the rapid rise, concerns about potential dilution could pose resistance levels for $FIL in the short term. While the market remains positive, especially with the solid fundamentals supporting Filecoin, such as growing storage deals and the Filecoin Virtual Machine (FVM), the retrace from the $3 mark suggests profit-taking may be occurring. The price remains at $2.74, and the market will be closely monitoring for signs of further movement.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.