- Filecoin’s surge over the past 24 hours may be tied to its TVL, which has neared $100 million in the last seven days.
- Traders on Binance and OKX appear highly optimistic about FIL, opening numerous long positions in anticipation of price increases.
In the past 24 hours alone, Filecoin’s [FIL] price has climbed by 10.35%, adding to its impressive 22.82% gain over the last week.
Market analysis indicated that current sentiment favored additional growth. However, FIL will need to break through a key resistance level to sustain its upward trajectory.
Growing TVL could drive further growth
Filecoin’s Total Value Locked (TVL) has seen a significant increase over the past week, rising from $67.17 million on the 31st of December 2024, to $92.91 million at press time.
TVL represents the total amount of tokens deposited, staked, or locked into Filecoin’s protocols. When TVL experiences a notable surge, it often leads to positive price movement for the asset—in this case, a potential rise.
Source: DeFiLlama
As FIL approaches the psychological $100 million TVL threshold, surpassing this milestone could trigger a major capital infusion, potentially driving significant gains in the asset’s price.
Meanwhile, AMBCrypto’s analysis of current trader sentiment revealed a bullish outlook for FIL.
Binance and OKX traders fuel FIL’s rally
Data from Coinglass shows that Binance and OKX traders are strongly bullish on FIL, as evidenced by a significant increase in the number of accounts placing bets on the asset, according to the Long-to-Short ratio.
The Long-to-Short ratio measures the proportion of long positions (bets that an asset’s price will rise) to short positions (bets that its price will fall).
A ratio greater than 1 suggests a bullish market sentiment, while a ratio below 1 indicates a bearish outlook.
At the time of writing, the Long-to-Short ratio for accounts on Binance and OKX were 2.72 and 2.64, respectively, signaling that a majority of these traders expected FIL’s price to continue trending upward.
This has played a role in the current price hike, and will could act as momentum to keep prices up, and prevent market decline.
Will more long bets follow?
The Open Interest, which measures the number of unsettled contracts on an asset, has surged by 21.1% in the past 24 hours.
Source: Coinglass
A surge in Open Interest typically indicates that more contracts are being opened.
However, the recent jump in volume—surging over 200% to reach $732.45 million—alongside the corresponding rise in price, suggests an increasingly bullish market sentiment.
So, traders are not only opening more positions but also driving the price upward, reinforcing the bullish outlook.
If Open Interest continues to climb, FIL’s price is likely to follow suit, potentially sparking a sustained upward rally in the coming days, overcoming a major resistance.
Source: TradingView
Read Filecoin’s [FIL] Price Prediction 2025–2026
On the 1-week chart, FIL shows signs of a bullish continuation.
If these bullish metrics continue to rise and the asset breaks through the $6.97 resistance level—marking the upper boundary of its year-long consolidation—FIL could potentially gain 143.37% and trade back to $16.79.
