Filecoin Rallies 6% as Buyers Defend Key Support
Filecoin (FIL) rebounded sharply on Tuesday, climbing 6.4% from a $2.15 low to end the session at $2.31, signaling renewed demand despite weakness across the wider crypto market. The CoinDesk 20 index slipped 2.1% during the same period.
Trading activity in FIL surged to levels 75% above the 30-day average, underscoring strong institutional participation. A breakout above the $2.27 resistance zone late in the session triggered heavy buying, with short bursts of volume exceeding 150,000 tokens, according to CoinDesk Research’s model.
Key levels:
- Support: $2.15 held firm after a sharp drop on Aug. 25.
- Resistance: $2.31 remains the ceiling to watch for continuation.
- Momentum: Accumulation patterns around $2.27 suggest buyers are positioning for a bullish reversal.
At last trade, FIL was up 0.9% on the day, holding near $2.31.
