FIL Recovers 6% Off Lows, Sparking Hopes of Trend Reversal

Filecoin Bounces 6% From Lows on Heavy Institutional Volumes

Filecoin (FIL) staged a strong rebound Tuesday, advancing 6.4% from its $2.15 session low to close at $2.31, according to CoinDesk Research’s technical model.

The rally came despite broader market weakness, with the CoinDesk 20 index slipping 2.1%. Trading activity in FIL was 75% above the 30-day average, pointing to elevated institutional involvement.

Technical snapshot:

• Range: $2.15–$2.31, spanning 6.8% over 24 hours.
• Support: Heavy selling between 7–8 p.m. UTC on Aug. 25 pushed FIL to $2.15, where buyers stepped in on 15.1 million in volume.
• Breakout: Crossing above $2.27 resistance late Aug. 26 triggered sustained accumulation and buying interest.
• Flows: A final rally carried FIL from $2.27 to $2.29 with volumes topping 150,000 tokens in under 20 minutes.

Market analysts see the recent consolidation around $2.27 as classic accumulation behavior, potentially setting the stage for a broader bullish reversal if FIL can sustain levels above $2.31.

At last check, FIL was trading 0.9% higher at $2.31.