Filecoin Plunges 10% as Key Supports Break Amid Heavy Selling
11/11/2025 — Filecoin (FIL) tumbled 10% to $2.34 over the past 24 hours, falling through critical support levels as strong selling pressure dominated trading, according to CoinDesk Research’s technical analysis.
The technical breakdown was accompanied by a surge in volume, with 21 million FIL changing hands — 137% above the 24-hour average of 8.9 million — signaling significant institutional participation. Consecutive lower highs confirmed the bearish momentum as buyers failed to defend key levels.
FIL first broke through $2.50 and $2.40 support zones, triggering stop-loss cascades and accelerating the decline.
Technical Snapshot:
- Support/Resistance: Immediate support at $2.35, while $2.40 and $2.50 have now flipped to resistance.
- Volume: 21 million tokens traded, confirming the strength of the sell-off.
- Trend Structure: Formation of lower highs from $2.67 highlights continued bearish pressure.
- Next Targets: $2.30 serves as the near-term downside target; recovery depends on reclaiming the broken $2.40 level.
The combination of high volume and structural weakness suggests FIL could continue to face downward pressure unless buyers regain control above previous support.
