Filecoin Falls 10% as Support Levels Collapse Amid Heavy Volume
11/11/2025 — Filecoin (FIL) dropped 10% to $2.34 in the past 24 hours, breaking through crucial support levels as selling pressure intensified, according to CoinDesk Research’s technical analysis.
Trading volume surged to 21 million FIL, 137% above the 24-hour average of 8.9 million, reflecting significant institutional activity. The token’s decline followed consecutive lower highs, confirming a bearish trend.
FIL first breached support at $2.50 and $2.40, triggering cascading stop-loss orders and accelerating the downtrend.
Technical Overview:
- Support/Resistance: $2.35 is now the immediate support, while $2.40 and $2.50 have shifted to resistance.
- Volume: Elevated at 21 million tokens, underscoring strong selling momentum.
- Trend: Lower highs from $2.67 indicate sustained bearish pressure.
- Targets: Short-term downside target at $2.30; a rebound requires reclaiming $2.40.
The combination of high trading volume and technical weakness suggests FIL may face continued downward pressure unless buyers step in to defend previous support levels.
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