FIL Gains 3% as Trading Volatility and Volume Increase
Filecoin (FIL) experienced volatile trading, initially gaining 3% before a 2% decline. As of recent trading, FIL was up 3.4% over 24 hours at approximately $2.32.
The trading range was $0.15 (6%), with a low of $2.23 and a high of $2.38. Critical resistance formed at $2.38, marked by high-volume rejection during peak activity. The broader crypto market saw minimal changes, with the Coindesk 20 index rising 0.2%.
Technical Analysis:
- FIL increased from $2.25 to $2.32, reflecting a 3% gain in the last 24 hours
- Trading range was $0.15 (6%) between $2.23 and $2.38
- Two rally phases were noted: an initial rise to $2.28 and another on September 5
- Price peaked at $2.38 with a volume of 7.23 million, surpassing the average of 2.47 million
- Resistance established at $2.38 with significant volume rejection
- Support levels ranged from $2.23 to $2.24 during early trading
- Subsequent decline from $2.36 to $2.32 represented a 2% contraction
- Notable volume spikes reached 425,701, indicating institutional selling pressure
- Institutional selling volume peaked at nearly double the session average in the last hour