Filecoin Continues Steady Bullish Momentum with Strong Volume Support

Filecoin FIL$2.4464 showed strong upward momentum throughout the last 24 hours, climbing from $2.38 to $2.44, according to CoinDesk Research’s technical analysis model.

The model showed that the digital asset carved out strong support foundations within the $2.38-$2.39 corridor, backed by substantial volume validation that became particularly pronounced during the 6:00 AM ET trading hour when transaction volume exploded to 7 million units, dramatically exceeding the session’s 2.35 million average while perfectly aligning with a powerful rebound from the $2.398 level.

Technical resistance materialized near the $2.46 threshold, where price discovery encountered meaningful rejection during the identical high-volume window, establishing a definitive technical barrier for the trading session, according to the model.

Filecoin is hosting a discussion on Spaces tomorrow about the future of AI, according to an earlier post on X.

In recent trading FIL was 2.8% higher over 24 hours, trading around $2.44.

The wider crypto market was also higher, with the broad market gauge, the CoinDesk 20, up 2.7%.

Technical Analysid

• FIL progressed decisively from $2.38 to $2.44 during the last 24-hours
• Strong support established around the $2.38-$2.39 zone with high-volume confirmation, particularly evident during the 6:00 hour when volume surged to 7 million units.
• Volume significantly exceeded the 24-hour average of 2.35 million units, coinciding with a decisive bounce from $2.40.
• Resistance emerged near $2.46, where price action showed rejection during the high-volume period, creating a clear technical ceiling for the session.
• Sustained upward momentum supported by consistent volume above average levels during key advances suggests institutional accumulation.

Source