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Filecoin Gives Back Chunk of Recent Gain to Trade 2% Higher
The FIL token gained 6% before encountering high-volume resistance at the $2.41 level.
Jun 30, 2025, 7:45 p.m.
What to know:
- Filecoin surged 6% before struggling at the $2.41 resistance level and slipping lower.
- The token is currently at $2.325, up roughly 2% over the past 24 hours.
Filecoin experienced a dramatic 6.1% surge on June 29, jumping from $2.31 to $2.41 with exceptionally high trading volume, before encountering resistance and reverting lower, according to CoinDesk Research's technical analysis model.
The model showed that high-volume resistance has been established at the $2.41 leveI.
STORY CONTINUES BELOW
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Horizontal support zone has formed around $2.27-$2.28 where buyers consistently stepped in during consolidation, according to the model.
In recent trading, FIL was 1.8% higher over 24 hours at around $2.325 The broader market gauge, the CoinDesk 20, was up 1.9% at publication time.
Technical Analysis:
- FIL exhibited a dramatic 6.05% price surge during the 22:00 hour on June 29, jumping from $2.31 to $2.41 with exceptionally high volume of 7.6 million.
- Clear high-volume resistance established at the $2.41 level, with overall price range of $0.14 (5.97%) during the 24-hour period.
- Horizontal support zone formed around $2.27-$2.28 where buyers consistently stepped in during consolidation.
- Descending channel formed after resistance test, dropping to $2.29 by 18:33 before recovering to close at $2.30.
- Volume spikes occurred during key reversals, particularly at 18:32 (72.7K) and 18:46 (70.3K), suggesting institutional participation at $2.295 support.
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