Filecoin (FIL) exhibited robust upward momentum over the past 24 hours, rising from $2.38 to $2.44, as revealed by CoinDesk Research’s technical analysis model. The asset established a strong support foundation within the $2.38-$2.39 corridor. This support was validated by a notable spike in trading volume, particularly during the 6:00 AM ET hour when transaction volume surged to 7 million units. This figure significantly surpassed the session’s average of 2.35 million units and coincided with a bullish rebound from the $2.398 level.
On the other hand, technical resistance emerged near the $2.46 mark, where the price faced meaningful rejection during the same high-volume period. This reaction established a clear ceiling for the trading session, according to the analysis model.
Additionally, Filecoin is scheduled to hold a discussion on Spaces tomorrow, centering around the future of artificial intelligence, as expressed in an earlier announcement on X. During recent trading, FIL was up 2.8% over the past 24 hours, trading around $2.44. This positive momentum further aligns with the broader cryptocurrency market trend, with the CoinDesk 20 index also reflecting gains, climbing 2.7%.
The technical analysis indicates that Filecoin’s ascent from $2.38 to $2.44 is underpinned by sustained upward momentum, supported by consistent trading volume above average levels, particularly during critical advances. This suggests a potential trend of institutional accumulation in the digital asset.
