surged more than 4% to $1.65 early Tuesday afternoon, surpassing a key psychological resistance of $1.60, according to CoinDesk Research’s technical analysis model.
The model showed institutional accumulation with two major peaks above 140% of average volume.
The storage token decisively broke through the $1.60 resistance after weeks of consolidation, according to the model.
Price action demonstrated classic institutional buying patterns with higher lows at $1.52 and $1.55, confirming the uptrend structure.
In recent trading, FIL was up 4.4% over 24 hours, around $1.65.
The broader crypto market also rose, with the CoinDesk 20 Index up more than 3%.
Technical analysis:
- Primary support is stuck at $1.52 with resistance at $1.60 decisively breached; next goal $1.65 psychological level
- Exceptional peaks of 140% and 162% above average confirmed institutional accumulation during key breakout phases.
- Clear exit from consolidation with higher lows establishing clear uptrend structure above $1.60
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.
