Filecoin Climbs 6% on Heavy Volume as Investor Demand Rises
Filecoin (FIL) advanced 6% over 24 hours, outpacing the broader crypto market, as trading activity more than doubled its 30-day average, signaling heightened investor participation. The CoinDesk 20 (CD20) index rose 4.6% during the same period.
According to CoinDesk Research, FIL traded in a $0.19 range, reaching $1.68 before settling into a $1.56–$1.60 band. The token formed a series of higher lows from $1.55, with momentum easing as volume declined, suggesting early institutional accumulation followed by waning retail activity.
The analysis noted that Filecoin is currently moving in line with overall market trends rather than reacting to token-specific developments. Key technical levels now stand at $1.55 support and $1.68 resistance, guiding traders amid elevated volume.
Technical Snapshot:
- Immediate support: $1.57, then $1.55
- 24-hour volume: 109% above 30-day average
- Higher-low pattern indicates constructive uptrend
- Short-term upside target: $1.59–$1.595
- Extended target: $1.68 if momentum continues
- Technical structure suggests base-building for a push toward the $1.60 psychological level
