Filecoin Jumps 4% as Trading Volume Surges and Institutional Demand Grows
Filecoin (FIL) posted strong gains over the past day, rising by as much as 4% amid signs of increased institutional interest, according to technical analysis from CoinDesk Research.
Trading activity in FIL was significantly elevated, with around 2.65 million tokens changing hands — well above the average daily volume of 1.89 million.
The price maintained a steady upward move from overnight lows, finding resistance near $2.38 and strong support above $2.33 throughout the session.
Filecoin’s rally unfolded alongside broader market strength, as the CoinDesk 20 index advanced 2.7% during the same period.
As of the latest trading, FIL was up approximately 3.5% over the past 24 hours, sitting near $2.36.
Technical Breakdown:
- Over the past 24 hours, FIL traded in a 5% price range between a low of $2.26 and a high of $2.38, narrowing to a tight 0.47% range in the final hour.
- Trading volume spiked to 2.65 million tokens during key support tests — about 40% higher than the average daily level.
- Firm support has developed at $2.29, with resistance forming around $2.38, while the psychologically significant $2.35 level remains in focus.
- Technical charts indicate an overall upward trend, marked by higher lows. However, a bearish divergence appeared late in the session as trading volume began to taper off.
