Filecoin (FIL) Breaks Below Critical $2.54 Support Level, Bears Gain Momentum
Filecoin’s (FIL) price fell sharply by 4.87% over the last 24 hours, slipping below the crucial support at $2.54 amid mounting selling pressure. The token traded in a range between $2.62 and $2.50, but bearish forces dominated, pushing prices lower.
Volume analysis highlights two significant spikes, at 07:00 and 13:00 UTC, with the latter coinciding with a rejection near $2.55 and a subsequent breakdown below support. Attempts to rally above $2.55 were short-lived as selling intensified, particularly around 13:31 UTC.
FIL’s latest price action points to a fragile technical setup, with immediate resistance now near $2.55 and support levels to watch at $2.48 and $2.45. The bearish momentum may continue if the selling pressure persists, signaling further downside risk.
