Filecoin Surges 9% as Crypto Markets Ignite
Filecoin (FIL) delivered a powerful 9% rally in the past 24 hours, riding a broader wave of gains sweeping through the crypto markets. The CoinDesk 20 Index climbed 7% during the same period, with Bitcoin (BTC) reaching a fresh record high of $118,739.
FIL’s price rose from $2.44 to $2.65, showing particularly strong momentum between 16:00 and 21:00 UTC on July 10. During that time, trading volume spiked to 8.18 million tokens — more than double its usual 24-hour average of 3.67 million, based on data from CoinDesk Research’s technical analysis model.
This surge pushed FIL past critical resistance between $2.60 and $2.61, underpinned by heavy buying activity. On the downside, $2.43 has emerged as a sturdy support level after withstanding several tests throughout the session.
As of the latest trading session, FIL is hovering around $2.62, up 7.3% over the day.
Technical Highlights:
- Resistance Cleared: Broke above $2.60–$2.61 on high volume.
- Volume Spike: 8.18 million tokens traded at 21:00 UTC, far exceeding the daily average.
- Support Level: $2.43 has held firm after multiple retests.
- Uptrend Intact: Higher lows throughout the session confirm bullish structure.
- Accumulation Signs: Notable volume bursts between 09:15 and 09:17 suggest strategic buying.
The combination of strong technicals and market-wide optimism positions Fileco
