Filecoin Rebounds 2% After Defending Key $2.38 Support Level
Filecoin (FIL) rose as much as 2% over the past 24 hours after bulls successfully defended the $2.38 support zone, helping establish a firm technical base, according to CoinDesk Research’s analysis.
The token fluctuated within a $0.16 trading range between $2.38 and $2.55—equivalent to 6.7% intraday volatility. A volume spike to 13.11 million FIL at 19:00 UTC on July 30, nearly four times the daily average, signaled heavy accumulation at session lows. That activity triggered an immediate reversal and sustained recovery toward the upper end of the range.
Momentum was further bolstered by a broader crypto market uptick, with the CoinDesk 20 Index gaining 1.7%.
Meanwhile, the Filecoin Foundation is hosting its Orbit All Hands event today, where updates on community engagement and new program roles are expected.
FIL was last seen trading around $2.505, up 1.2% on the day.
Technical Summary:
- Support Held: $2.38
- Resistance Zone: $2.55
- Range: $0.16 (6.7%)
- Volume Surge: 13.11M tokens at key support
- Institutional Activity: Detected near $2.53 close
- Outlook: Consolidation near top of range signals buyer control
