Filecoin dipped 0.2% to $1.37 in the past 24 hours, lagging the broader crypto market’s advance.
The CoinDesk 20 index was up 3% at the time of writing, underscoring FIL’s relative weakness.
Price softness came even as Filecoin trading activity accelerated, with volumes climbing 29% above the seven-day average, according to CoinDesk Research’s technical analysis model. The pickup in activity pointed to stronger institutional engagement, with buyers active around key technical levels.
Filecoin rose to a session high of $1.397 before selling pressure built during the final hour, the model showed. The pullback helped define short-term resistance near $1.40, while support has developed around $1.36.
Technical indicators showed resistance capped at the $1.40 session high, with volume peaking at 5.9 million tokens during the 21:00 hour on Dec. 11 — about 68% above 24-hour averages. In the final hour, distribution pressure drove more than 642,000 tokens in volume as prices retreated.
Despite broader market headwinds, higher intraday lows at $1.3577 and $1.3661 suggested underlying accumulation. Immediate upside targets remain near $1.3975 and the $1.40 psychological level, while downside risk extends toward the $1.39 session open, with a key support zone beginning near $1.36, the prior consolidation low.
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