Filecoin Sheds Early Gains, Trades Just Above Key Support
Filecoin (FIL)
$1.6314
rose 0.4% in the past 24 hours, underperforming the broader crypto market, which saw the CoinDesk 20 Index gain 1.7%, according to CoinDesk Research data.
The token briefly climbed nearly 2% early in the session before retracing, trading within a tight $0.06 range. It formed higher lows from its $1.595 open but struggled to clear resistance near $1.685, where selling pressure increased.
Trading volume jumped 23% above the seven-day average, suggesting renewed institutional activity despite FIL’s muted price action.
Filecoin will host its developer summit in Buenos Aires from Nov. 13–15, potentially providing a short-term narrative boost for the decentralized storage project.
Technical Picture
- Support: $1.625
- Resistance: $1.634–$1.685 (volume-weighted range)
- Trend: Ascending structure from $1.595 base
- Volume: 23% above 7-day average; peak turnover at 5M FIL (89% above SMA)
- Market Dynamics: Late-session sell pressure (>140K FIL) indicates profit-taking
- Outlook: Consolidation above $1.63 remains key; break below $1.625 could expose downside risk
About The Author
More Stories
NYDIG: Bitcoin Reflects Global Liquidity Trends Rather Than Serving as an Inflation Hedge
Binance Coin Rallies Over 3% After $1.69B Burn Event, Surpasses XRP in Valuation
Crypto Markets Brace for Fed Interest Rate Decision and Possible Merger Developments