Filecoin’s FIL Pares Gains to Trade Little Changed After Testing $2.50 Resistance Level

Filecoin FIL$2.4342 traded little changed over the last 24 hours, with the shares trading in a $0.08 range representing 3.3% volatility between $2.41 and $2.50, according to CoinDesk Research’s technical analysis model.

The model showed a pronounced V-shaped recovery trajectory, as the digital asset initially retreated from $2.44 to test institutional support levels near $2.41-$2.42 during overnight trading, before mounting a sustained rally that reached $2.50 during the morning hours.

Selling pressure emerged at the $2.50 resistance level with institutional volume reaching 4.7 million tokens, while the $2.41-$2.42 price zone demonstrated robust institutional backing through multiple successful support tests, with trading volume exceeding the 24-hour average of 2.80 million units, according to the model.

In recent trading FIL was 0.3% lower over 24 hours, trading around $2.43.

The wider crypto market was also lower, with the broad market gauge, the CoinDesk 20, down 0.8%.

Technical Analysis:

• V-shaped institutional recovery pattern materialized during 24-hour trading session.
• Strong support established at $2.41-$2.42 zone through multiple successful institutional tests.
• High-volume resistance identified at $2.50 institutional level.
• Above-average institutional trading volume of 4.70 million during key corporate resistance tests.

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