Filecoin is forming an interesting pattern on the hourly timeframe. The double bottom structure is showing signs of potential reversal, with the overall sentiment leaning bullish. For traders eyeing FIL positions, the price target sits around $1.422, which represents a meaningful upside from current levels. This type of chart formation typically indicates accumulation near support, followed by a breakout move. The pattern suggests buying pressure may be building beneath the surface. Of course, like all trading signals based on technical analysis, confirmation through volume and price action remains crucial before committing capital. Those monitoring altseason movements and looking for DePIN sector opportunities might find this development worth tracking closely on their watchlists.