FIL Posts 3% Increase as Volatility Intensifies and Volume Soars

Filecoin (FIL) surged 3% during a choppy session before slipping 2%, highlighting pronounced intraday volatility and elevated market participation. Over the last 24 hours, FIL traded near $2.32, representing a 3.4% gain.

On-chain and market data indicate FIL moved within a $0.15 range (6%), finding support around $2.23–$2.24 and resistance at $2.38. Attempts to breach the $2.38 ceiling encountered strong selling pressure, suggesting institutional activity at the upper boundary.

Market & Technical Highlights:

• FIL advanced from $2.25 to $2.32 over the session, with two notable rally phases: an early push to $2.28 and a subsequent surge to $2.38.
• Trading volumes spiked to 7.23 million FIL, nearly triple the 24-hour average of 2.47 million.
• A late-session pullback from $2.36 to $2.32 reflected a 2% contraction, driven by heavier selling.
• The $2.23–$2.24 support zone remained intact, anchoring intraday price movements.

Meanwhile, the broader crypto market saw modest gains, with the CoinDesk 20 Index up 0.2%. Analysts note that FIL’s next directional move hinges on breaking above $2.38; a failure to do so may extend its consolidation phase.