Key Insights

• Filecoin (FIL) experienced a 7% decline before recovering to trade only 2% lower over the last 24 hours.
• Support has been established at $2.49, while a resistance level forms at $2.68.

Filecoin image

Details:
During trading, FIL fluctuated widely, with a peak of $2.68 followed by a drop to $2.49. High trading volume was noted, reaching 8.88 million transactions during the noontime session.

Technical Analysis

• FIL traded between $2.49 and $2.68 during this volatile period.
• Major support was confirmed at $2.49 with peak trading volume at noon.
• The recent trading bounce aligns with a slight overall market rebound, where the broader crypto market index rose by 1.1%.

“A significant amount of trading activity was observed as the token sought to stabilize after heavy fluctuations.” (Translation: A significant amount of trading activity was observed as the token sought to stabilize after heavy fluctuations.)