Filecoin (FIL) climbed after clearing a key hurdle, with institutional flows pushing the token higher and traders eyeing further gains.
FIL rose 4.3% over 24 hours to $1.32, according to CoinDesk Research’s technical model. The move came after FIL broke above a $1.29 resistance zone — an advance that played out within a tight $0.06 range and established fresh upward momentum that the model says has traders positioning for an extended run.
Volume gave the breakout credibility: at midnight UTC, roughly 2.9 million FIL changed hands, about 87% above that session’s 1.55 million-token average. CoinDesk’s model interprets that spike as confirmation of the break, with $1.29 now acting as new support.
The pattern of higher lows at $1.260, $1.277 and $1.291 also pointed to institutional accumulation supplanting prior retail-driven volatility, the analysis noted. The final push through $1.32 on elevated volume sets the next upside target at the $1.33–1.335 resistance cluster.
FIL’s rally came alongside broader market strength: the CoinDesk 20 index was up 2.5% at publication.
Technical Analysis: 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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