FIL Climbs 2% as Bulls Defend Key $2.38 Support Zone
Filecoin Climbs 2% as Bulls Defend $2.38 Support, Volume Spikes
Filecoin (FIL) advanced nearly 2% over the past 24 hours after sharply rebounding from a key support level at $2.38, according to CoinDesk Research’s technical data.
The token traded within a $0.16 band between $2.38 and $2.55, posting 6.7% intraday volatility. A notable surge in trading volume to 13.11 million tokens—roughly four times the daily average of 2.29 million—occurred at 19:00 UTC on July 30 as price touched its session low. Buyers quickly stepped in, reversing the downtrend and helping to confirm $2.38 as a technical floor.
FIL’s upward move was further supported by a modest recovery across the broader crypto market, with the CoinDesk 20 Index rising 1.7%.
In community news, the Filecoin Foundation is set to host its latest Orbit All Hands meeting today, with updates expected on new roles and initiatives under the program.
As of the latest reading, FIL was trading near $2.505, up 1.2% on the session.
Technical Snapshot:
- Support: $2.38 confirmed on high-volume rebound
- Resistance: $2.55 remains the near-term cap
- Range: $0.16 spread between low and high
- Volume: Spiked to 13.11M FIL at 19:00 UTC, 4x daily average
- Institutional Flows: Detected via large blocks around 11:20 UTC
- Current Price: $2.505
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