Highlights:

• Filecoin surged 6% before hitting resistance at $2.41 and subsequently declining.
• Currently, FIL is priced at $2.325, marking an approximate 2% rise over the last 24 hours.

Overview

Filecoin (FIL) saw a significant price increase of 6.1% on June 29, climbing from $2.31 to $2.41. This rise was accompanied by high trading volumes before succumbing to market resistance.

According to technical analysis by CoinDesk Research, solid resistance has been established around the $2.41 mark. Following this peak, the price has stabilized around $2.27-$2.28, indicating consistent buying interest during consolidation.

In the latest trading session, FIL was observed up by 1.8%, sitting at approximately $2.325. Meanwhile, the CoinDesk 20 index reflected a broader market rise of 1.9% at the article’s publication time.

Technical Insights

• Price Movement: FIL recorded a peak price of $2.41 with a trading volume of 7.6 million during the notable surge.
• A price range of $0.14 (5.97%) was seen over a 24-hour period.
• A descending price channel has formed following resistance testing, with FIL recently dipping to $2.29 before recovering slightly.

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