Market Crash: Filecoin Surges 50%! Decentralized Storage Sparks DePIN Boom

Filecoin (FIL) surged over 50% in the past 24 hours, breaking the $2.00 psychological level and becoming one of the best-performing cryptocurrencies recently. Despite the overall crypto market struggling, the DePIN (Decentralized Physical Infrastructure Networks) sector has defied the trend, rising approximately 11%. Technical indicators suggest that Filecoin’s bullish momentum will continue, with the price breaking above the 100-day exponential moving average (EMA).

DePIN Sector Rises Against the Grain, Led by Filecoin

Filecoin has been the top performer among cryptocurrencies, jumping over 50% in the last 24 hours and reclaiming the critical $2.00 psychological barrier. This decentralized storage coin is now valued at over $2, and its strong rebound has positioned it at the forefront of the DePIN sector, which has gained about 11% overall. Despite the dramatic price swings, the broader crypto market remains weak.

Bitcoin has fallen below $102,000, and Ethereum has dropped to around $3,300. In this bearish environment, Filecoin’s upward move stands out even more. This performance indicates that Filecoin’s rally is driven by its fundamentals rather than market-wide gains. As capital flows out of mainstream assets like Bitcoin and Ethereum, some funds are shifting into narratives with strong long-term potential, such as DePIN.

Meanwhile, the DePIN sector as a whole is bucking the trend. Alongside Filecoin’s surge, Arweave (AR) has gained about 38%. Arweave is another decentralized storage project that offers permanent data storage for a one-time fee. The simultaneous rise of these storage projects signals growing market interest in decentralized storage solutions.

Filecoin’s rally coincides with renewed enthusiasm for decentralized storage and Web3 infrastructure. As centralized cloud providers face issues related to data privacy, censorship, and single points of failure, decentralized storage offers a more secure, censorship-resistant, and cost-effective alternative. As a leading project in this space, Filecoin naturally attracts investor attention.

The rise of the DePIN concept further supports Filecoin’s narrative. DePIN involves using blockchain and token incentives to build physical infrastructure in the real world, including storage, computing power, wireless networks, and sensor networks. As the pioneer in decentralized storage, Filecoin is seen as a key representative of the DePIN movement. Increasing recognition of DePIN’s long-term value is prompting a reevaluation of the sector’s valuation.

Technical Indicators Show Bullish Sentiment, RSI at 66 Not Overbought

(Source: TradingView)

From a technical perspective, Filecoin’s price has broken above the 100-day EMA, approaching the $2.00 level—a significant milestone indicating growing bullish sentiment. Currently, the price is nearing a critical resistance trendline formed by the highs on February 21 and April 4, intersecting with the 200-day EMA around $2.43.

Breaking above the 100-day EMA is a key technical signal. This moving average is considered a mid-term trend indicator; when the price crosses above and holds, it often signals a shift from a downtrend to an uptrend. The fact that FIL has stabilized above $2 and is approaching the 100-day EMA suggests bulls are regaining control.

Momentum indicators on the daily chart reinforce this bullish outlook. The Relative Strength Index (RSI) has risen from near oversold levels to 66, indicating strong buying pressure but not yet overbought. An RSI below 30 suggests oversold conditions, while above 70 indicates overbought. At 66, FIL still has room to run higher.

The Moving Average Convergence Divergence (MACD) has rebounded from its signal line and is approaching a bullish cross above zero. A MACD crossing above zero would confirm a positive trend. When both RSI and MACD show strength, market confidence in further gains increases, attracting more buyers.

However, analysts note that daily indicators and intraday signals may sometimes diverge. Short-term oscillators show overbought conditions, creating tactical trading opportunities. Nonetheless, as long as key support levels hold, the overall momentum favors continued upward movement. Short-term traders might see profit-taking, but long-term holders remain in a favorable position.

Key Levels and Short-Term Targets

If FIL can break and hold above the resistance at $2.43, bulls may target the R1 pivot point at $2.63. Continued strength could push the price toward the R2 pivot at $3.75. At this level, the 200-day moving average and a descending resistance trendline converge, making $2.43 a critical mid-term level for assessing the trend.

Why is $2.43 so important? Multiple technical factors converge here: it aligns with the current position of the descending trendline from February 21 and April 4 highs, representing a major supply zone. The 200-day EMA is also nearby, serving as a key long-term trend indicator. Additionally, volume analysis suggests significant sell orders (stop-loss clusters) around this level, which could create resistance.

Filecoin Key Price Levels

Immediate Support: $2.00 (psychological level + 100-day EMA)

Secondary Support: $1.70 (recent consolidation upper boundary)

Deeper Support: $1.33–$1.61 (major consolidation zone)

Immediate Resistance: $2.43 (200-day EMA + descending trendline)

Short-Term Target: $2.63 (R1 pivot point)

Mid-Term Target: $3.75 (R2 pivot point)

The $2.00 psychological level and the 100-day EMA provide immediate support. If bearish pressure intensifies, the next major support is at $1.70. The zone between $1.33 and $1.61 represents a large consolidation area where many traders have accumulated positions. This zone often acts as a strong support base.

Various forecasts suggest short-term upside potential: 24-hour projections indicate a move toward $2.19, while 7-day forecasts point to around $2.68. These are based on current technical momentum and market sentiment. Successfully holding above $2.19 in the next 24 hours would set the stage for a test of $2.43 resistance, and breaking through that could open the path toward $2.68 and beyond.

Decentralized Storage Narrative and Long-Term Uncertainty

Filecoin’s recent rally coincides with renewed interest in decentralized storage solutions and Web3 infrastructure. While centralized cloud providers like AWS, Google Cloud, and Azure offer convenience, they face fundamental issues. Data sovereignty is compromised, as user data is controlled by providers and susceptible to censorship or deletion. Single points of failure can impact millions of users during outages. Cost structures for large cloud services remain high, especially for long-term storage.

Filecoin offers a decentralized alternative. Its network distributes data across thousands of nodes worldwide, eliminating single entities that can control or censor data. Cryptographic proofs ensure data integrity, and economic incentives motivate honest storage provision. Users can choose multiple providers for redundancy, ensuring data remains accessible even if some nodes go offline.

Market skeptics worry about long-term technical sustainability and volatility, while others see emerging opportunities in this structure. The long-term outlook remains uncertain, emphasizing the importance of monitoring key technical levels and overall sector momentum. Ultimately, Filecoin’s success depends on its ability to attract real-world usage, not just speculative trading.