Filecoin Gains 2% After Holding Key Support at $2.38
Filecoin (FIL) experienced a 2% increase over the last 24 hours, maintaining support at $2.38. The token traded within a range of $2.38 to $2.55, reflecting an intraday volatility of 6.7%. Trading volume surged to 13.11 million tokens on July 30 at 19:00, four times the daily average of 2.29 million, prompting a rebound from the $2.38 low.
The upcoming Filecoin Orbit community program will discuss updates and new roles. Concurrently, the broader crypto market saw a 1.7% rise, with FIL trading around $2.505, marking a 1.2% increase in recent trading.
Technical Analysis:
- $0.16 trading range shows 6.7% spread between $2.55 peak and $2.38 trough.
- Volume surge to 13.1 million tokens represents 4x the normal daily average.
- Support at $2.38 triggered a bounce, establishing a key technical floor.
- Rally sustained from $2.47 base to $2.55 ceiling post-volatility washout.
- Late-session selling peaked with 75,000+ token blocks indicating institutional flows.
- Price stabilized near the $2.53 support zone at session close.