Filecoin Rebounds 6% as Institutional Flows Lift Token
Filecoin (FIL) posted a sharp recovery Tuesday, climbing 6.4% from a $2.15 low to close at $2.31, according to CoinDesk Research’s technical model. The rebound came on trading activity that was 75% above the 30-day average, highlighting stronger institutional participation.
The move contrasted with the broader market, where the CoinDesk 20 index fell 2.1% over the same period. FIL’s recovery was aided by a breakout above $2.27 resistance, sparking sustained buying pressure and reinforcing $2.15 as a key support zone.
Analysts noted that volume spikes and consolidation around $2.27 resemble accumulation patterns, with potential for further upside if resistance near $2.31 is cleared. FIL was last up 0.9% on the day, trading around $2.31.
