Filecoin Climbs 5% as It Carves Out a New Uptrend

Filecoin Rises Nearly 4% as Bullish Momentum Builds Amid Crypto Market Gains

Filecoin (FIL) posted a 3.74% gain over the past 24 hours, trading around $2.64 as broader crypto markets rallied. The CoinDesk 20 index was recently up about 4%, highlighting renewed investor optimism across digital assets.

Technical analysis from CoinDesk Research shows Filecoin forming a distinct uptrend, with higher lows suggesting growing bullish sentiment.

During the trading session, FIL found solid support around $2.54–$2.55, while initial resistance at $2.62–$2.63 was tested and eventually surpassed during Asian market hours.

A potential catalyst for the price action was news shared on X (formerly Twitter), where Theoriq AI revealed a partnership with the Filecoin Foundation to develop AI agents powered by open data from the Filecoin network.

Key Technical Insights:

Trading Range: FIL fluctuated between $2.56 and $2.66, reflecting a 4.75% gain over the session.
Support Levels: Higher lows were established at $2.54 and $2.55, signaling a firm foundation for upward movement.
Resistance Levels: Resistance clustered around $2.62–$2.63 before being cleared during early Asian trading.
Volume Surge: Trading volumes spiked to over 5.4 million around 05:00 UTC, nearly twice the daily average of 2.8 million, hinting at institutional participation.
Volatility: The price moved within a $0.15 band, with a session low of $2.54 and high of $2.69, marking a 5.56% swing.
Reversal Point: A quick reversal was noted near the $2.66–$2.67 resistance zone, accompanied by heavy trading exceeding 150,000 units.

Overall, the technical outlook for Filecoin remains bullish, and analysts suggest further upside could be in store if broader market conditions remain favorable.