Filecoin (FIL) showed impressive bullish momentum in the past day, climbing from $2.44 to $2.65, marking a 9% increase according to technical analysis from CoinDesk Research.

The rally was particularly strong between 4 PM and 9 PM on July 10, as the price surged from $2.44 to $2.58, with trading volume hitting 8.18 million tokens, significantly surpassing the daily average of 3.67 million.

Filecoin Gains Filecoin gains as much as 9% as the token breaks out on high volume.

Key Highlights:

• Filecoin’s price broke through resistance at $2.60-$2.61 with robust volume support.
• The overall cryptocurrency market surged, with the CoinDesk 20 index up by 7%.
• Bitcoin reached a new record high of $118,739.

During recent trading, FIL was up 7.3% in 24 hours, trading at $2.62. This upswing in Filecoin occurred alongside significant growth in the overall crypto market, with Bitcoin also hitting its peak.

Technical Overview:

• Trading volume of 8.18 million tokens during the 9 PM hour, exceeding the typical 3.67 million.
• Price breached key resistance levels of $2.60-$2.61 with solid volume backing.
• Key support established at $2.43 with successful retests.
• The asset maintained higher lows, confirming overall upward trends.