Filecoin slipped 0.2% to $1.37 over the past 24 hours, trailing gains in the broader crypto market.
At publication time, the CoinDesk 20 index was up 3%, highlighting FIL’s relative underperformance.
Despite the modest price decline, Filecoin trading volumes jumped 29% above the seven-day average, according to CoinDesk Research’s technical analysis model. The rise in activity suggested increased institutional participation, with buyers stepping in around key technical levels.
The token climbed to an intraday high of $1.397 before selling pressure emerged in the final hour of the session, the model showed. That move helped establish near-term resistance around $1.40, while support has formed near $1.36.
Technical indicators pointed to resistance at the $1.40 session high, with volume peaking at 5.9 million tokens during the 21:00 hour on Dec. 11 — roughly 68% above 24-hour averages. During the final hour, distribution pressure generated more than 642,000 tokens in volume as prices pulled back.
Higher intraday lows at $1.3577 and $1.3661 suggested underlying accumulation despite broader market headwinds. On the upside, immediate resistance sits near $1.3975 and the $1.40 psychological level, while downside risk extends toward the $1.39 session open, with a key support zone beginning near $1.36, the prior consolidation low.
