Filecoin Continues Steady Bullish Momentum with Strong Volume Support

Filecoin (FIL) 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.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.