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Filecoin Rises 2% After Breaking $1.63 Resistance
FIL broke out on heavy volume as technical momentum accelerated past critical threshold levels.
Nov 24, 2025, 9:17 p.m.
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What to know:
- Filecoin rose 2% over the last 24 hours on heavy volume.
- Trading volume spiked 135% above average at 6.85 million tokens, confirming the validity of the breakout.
- FIL held above $1.66 support after a pullback, maintaining the bullish trend structure.
Filecoin rallied 2% over the last 24 hours, breaking through key resistance at $1.63 on the heaviest volume in three trading days, according to CoinDesk Research's technical analysis model.
The model showed that volume surged to 6.85 million tokens at 3:00 pm E.T., marking a 135% increase above the 24-hour average of 3.51 million.
STORY CONTINUES BELOW
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This spike coincided with FIL's decisive break above $1.63 resistance, a level that had capped gains for the previous two sessions, according to the model.
The breakout accelerated momentum from morning lows, with price action reaching session highs of $1.68 before consolidating near current levels.
The rally in FIL came as wider crypto markets also rose, with the broader market gauge, the CoinDesk 20, climbing 4.3% higher.
Technical Analysis:
- Critical support held at $1.657-$1.658 Fibonacci level, backed by psychological support near $1.60.
- Immediate resistance sits at $1.668 session high, with extension targets toward $1.6808 peak.
- Breakout surge of 6.85 million tokens confirms institutional participation above resistance.
- Pullback volume of 288K during late-session decline indicates controlled profit-taking rather than distribution.
- Next resistance targets $1.6808 session high (1.7% upside) and $1.70 psychological level (2.7% gain). Stop-loss below $1.657 support offers favorable 2:1 risk-reward setup for long positions.
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.
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