Filecoin Rises 13.6% in 24 Hours Amid Broader Market Gains
Filecoin (FIL) rose from $2.051 to a peak of $2.3478 in 24 hours, reflecting strong relative strength. Current trading shows FIL at approximately $2.35, marking a 13.6% increase, while the broader CoinDesk 20 index is up 8.7%.
Technical Analysis:
- Price formed an uptrend with higher lows and highs; notable breakout above $2.27 occurred at 22:00 on June 23rd with volume of 7.58M.
- Strong support established around $2.24-$2.25, confirmed by multiple bounces.
- 4-hour consolidation between $2.27-$2.30 indicates accumulation; $2.31 is immediate resistance.
- Notable volatility observed in the last hour, with consolidation followed by significant price movements.
- Token traded within $2.29-$2.30 before declining to $2.28, creating a new support level at $2.285.
- Volume increased during correction, with over 112,000 units traded at 15:42, showing strong market activity.
- Final minutes saw recovery, with price rising above $2.29 to a high of $2.301 at 15:52 on volume of 124,097, indicating renewed bullish momentum.