Filecoin (FIL) experienced a sharp 3% spike during intraday trading before giving up 2%, reflecting heightened volatility and strong participation from traders and institutions. Over the 24-hour period, FIL traded around $2.32, marking a 3.4% increase.
The token moved within a $0.15 trading range (6%), with support solidifying at $2.23–$2.24 and resistance forming near $2.38. Attempts to breach this resistance were met with heavy selling, indicating significant pressure at higher levels.
Technical Summary:
- FIL climbed from $2.25 to $2.32, with two key rally phases: an initial push to $2.28 and a subsequent surge to $2.38.
- Volume surged to 7.23 million FIL, almost three times the 24-hour average of 2.47 million.
- A late-session pullback brought FIL down to $2.32, highlighting continued selling pressure near resistance.
- Support at $2.23–$2.24 held firm, providing a foundation for the token despite intraday swings.
The broader crypto market remained largely stable, with the CoinDesk 20 Index up just 0.2%. Analysts note that FIL’s short-term trajectory will depend on whether it can break above $2.38 convincingly; failure could extend the current consolidation.
