After a notable rebound in recent weeks, the crypto market has experienced volatility. Ethereum (ETH) is down around $2,400 after rising to a high of $2,700 earlier this month. This decline is now affecting other major altcoins. 📈 📉 🌎 👨🎤 Filecoin (FIL), which performed well during the recent bullish run, shows signs of potential recovery. Its latest technical analysis suggests a breakout in price. 📈 💻 💵 📈 On the daily chart, FIL has formed an Elliott Impulse pattern indicating potential upside. The third wave of this 5-wave pattern peaked around $3.30 before a healthy correction occurred. This led to a pullback of about 17% from Wave 3 highs. Currently, FIL is trading at around $2.78 after a slight rebound. 📈 📊 The bullish projection forecasts a potential upside of more than 36%, leading to a price surge towards $3.79. ⬆️ This aligns with the 1.27 Fibonacci extension measured from the Wave 2–3–4 sequence, which is often used as a target zone for wave 5 in Elliott Wave theory. 📈 📚 🔑 Additionally, the 50-day moving average (MA) provides strong support while the 100-day MA acts as resistance. If FIL breaks above the 100-day MA, it could validate this bullish projection and signal stronger upward momentum. ⬆️ ⬆️ 📈 The key short-term support for FIL is $2.73 along with the 50-day MA. Maintaining these levels will be crucial to keep hopes of a further rally alive. 💪 At the same time, traders should watch the behavior of Ethereum at the $2,400 level. A strong rebound in ETH could reignite broader market confidence and give other altcoins like FIL the green light to regain momentum. 📈 Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions in cryptocurrencies. 🤓