Filecoin Climbs Nearly 4% Amid Bullish Technical Signals
Filecoin (FIL) gained 3.74% in the past 24 hours, trading around $2.64 as the broader crypto market moved higher, with the CoinDesk 20 index advancing roughly 4%.
Analysis from CoinDesk Research highlights a solid uptrend in Filecoin’s price action, with higher lows pointing to increasing bullish momentum.
FIL established firm support between $2.54 and $2.55, and overcame resistance around $2.62–$2.63 during early Asian trading hours.
Adding to the positive sentiment, Theoriq AI announced on X (formerly Twitter) that it’s working with the Filecoin Foundation to build AI agents leveraging open data from the Filecoin network, offering a potential catalyst for further gains.
Technical Breakdown:
- Trading Range: FIL fluctuated between $2.56 and $2.66, reflecting a 4.75% gain for the session.
- Support Levels: Higher lows formed at $2.54 and $2.55, signaling steady buying interest.
- Resistance Zones: Initial resistance near $2.62–$2.63 was cleared as trading volumes picked up.
- Volume Spike: Trading surged above 5.4 million around 05:00 UTC, nearly double the daily average of 2.8 million, hinting at institutional involvement.
- Volatility: Prices swung within a $0.15 band, ranging from $2.54 to $2.69, indicating a 5.56% volatility spread.
- Reversal Area: A sharp reversal occurred near $2.66–$2.67, supported by significant volume over 150,000 units.
Filecoin’s technical outlook remains positive, suggesting further upside potential if market sentiment stays strong.
