Share this article
Filecoin Jumps 2% After Defending Support at $2.38 Level
Support has now been established at $2.38, with resistance at $2.55.
Jul 31, 2025, 12:46 p.m.
What to know:
- Filecoin bounced 2% after defending key support.
- The token faces resistance at the $2.55 level.
Filecoin rose as much as 2% in the last 24-hours after defending key support at the $2.38 level, according to CoinDesk Research's technical analysis model.
The model showed that the token traded in a $0.16 range between $2.38-$2.55, marking 6.7% intraday volatility.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Volume exploded to 13.11 million tokens at July 30 19:00, quadruple the 2.29 million daily average, as price hit the $2.38 low. Bulls immediately defended this level, triggering a sharp reversal, according to the model.
The next Filecoin Orbit all hands, a community program run by the Foundation, is taking place today, according to a post on X. Attendees will be able to hear about new updates, including new roles within the Orbit program.
The bounce in Filecoin came as the wider crypto market also rose, with the broader market gauge, the Coindesk 20, recently up 1.7%
In recent trading, FIL was 1.2% higher over 24 hours, trading around $2.505.
Technical Analysis:
- $0.16 trading range equals 6.7% spread between $2.55 peak and $2.38 trough during session.
- 13.1 million token surge at July 30 19:00 represents 4x normal volume of 2.29 million daily average.
- High-volume support at $2.38 triggers immediate bounce, establishing key technical floor.
- Sustained rally from $2.47 base to $2.55 ceiling follows volatility washout.
- Late-session selling pressure peaks at 11:18-11:20 with 75,000+ token blocks signaling institutional flows.
- Price stabilizes near $2.53 support zone into session close.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
These Three Metrics Show Bitcoin Found Strong Support Near $80,000
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the $80,000 price level.
What to know:
- Bitcoin rebounded from the $80,000 region after a sharp correction from its October all time high, with price holding above the average entry levels of key metrics.
- The convergence of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis around the low $80,000 range highlights this zone as a major area of structural support.
Top Stories
