Filecoin advanced 4.3% to $1.32 over 24 hours as institutional flows propelled the token through critical resistance levels.
According to CoinDesk Research’s technical analysis model, the advance took place within a controlled range of $0.06, establishing clear bullish momentum that traders positioned themselves for extended gains.
The model shows that volume confirmation came at midnight UTC with 2.9 million tokens changing hands, 87% above the session average of 1.55 million.
The rise validated FIL’s breakout above resistance at $1.29, turning the level into new support, according to the model.
Higher lows at $1.260, $1.277 and $1.291 signal that institutional accumulation is replacing retail volatility, according to the model.
The final push above $1.32 on high volume targets the $1.33-$1.335 resistance group.
FIL’s rally occurred as broader crypto markets also rose. The CoinDesk 20 Index was up 2.5% at press time.
Technical analysis:
- Primary support anchored at $1.29
- Immediate resistance target extends to the $1.330-$1.335 area
- High resistance session at $1.325 successfully tested
- Peak volume reaches 2.9 million tokens (87% above 24-hour SMA)
- An ascending trendline emerges with a higher low structure
- The breakout confirmed by volume validates the resistance breakout
- Main upside objective extends to $1.330-$1.335 resistance zone
- Risk/reward metrics favor holding above $1.32
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
