Filecoin (FIL) rose 3% during a volatile trading session before a 2% pullback, reflecting heightened market activity and institutional involvement. Over the past 24 hours, FIL traded near $2.32, marking a 3.4% gain.
Technical data shows the token fluctuated within a $0.15 range (6%), with support at $2.23–$2.24 and resistance at $2.38. Attempts to break the $2.38 level met heavy volume selling, signaling significant short-term pressure.
Price Action Highlights:
- FIL climbed from $2.25 to $2.32, driven by two distinct upward moves: an initial push to $2.28 and a later surge to $2.38.
- Trading volume peaked at 7.23 million FIL, nearly three times the 24-hour average of 2.47 million.
- A late-session decline from $2.36 to $2.32 reflected a 2% retracement, fueled by institutional selling.
- Support at $2.23–$2.24 held firm throughout, maintaining a clear trading floor.
The broader crypto market remained relatively steady, with the CoinDesk 20 Index up just 0.2%. Analysts note that FIL’s short-term outlook depends on its ability to surpass $2.38. Failure to clear this level may extend the current consolidation phase.
