Filecoin gains momentum amid heavy market activity

Filecoin Jumps 6% on Heavy Trading as Investor Activity Surges

Filecoin (FIL) rose 6% in 24 hours, outperforming the broader crypto market, as trading volume more than doubled its 30-day average, signaling strong investor interest. Over the same period, the CoinDesk 20 (CD20) index gained 4.6%.

According to CoinDesk Research, FIL moved within a $0.19 range, reaching a high of $1.68 before settling into a $1.56–$1.60 band. The token established a series of higher lows from $1.55, with momentum slowing as volume declined, indicating early institutional accumulation and fading retail participation.

The research noted that Filecoin is currently mirroring broader market trends rather than responding to token-specific developments. With no clear fundamental catalysts, support at $1.55 and resistance at $1.68 have become critical technical levels.

Technical Summary:

Immediate support: $1.57, then $1.55
24-hour volume: 109% above 30-day average
Higher-low pattern signals constructive uptrend
Near-term target: $1.59–$1.595
Extended target: $1.68 if momentum holds
Structure suggests base-building for potential push toward the $1.60 psychological level