Filecoin Rebounding 6% from 24 -hour lows to a strong bullish backbone, according to the CoinDesk Research’s technical review model.
The model has shown that Fil has shown stability in a steady climb from $ 2.15 low to close to $ 2.31, delivering a 6.4% rebound indicating underlying accumulation and potential reversal momentum.
The Fil Trading volume is 75% above 30-day averages, signaling the institutional interests.
The storage token established a strong level of support during the rebound, according to the model.
Bounce in Filecoin came as the broadly crypto market fell, along with the broader market size, CoinDesk 20, down 2.1%.
In recent trade, Fil is 0.9% above 24 hours, trading around $ 2.31.
Technical assessment:
- Price range covers $ 0.15 (6.8%) between $ 2.31 climax and $ 2.15 trough over a 24 -hour session.
- A sharp decline from $ 2.26 to $ 2.15 on August 25 between 7-8 PM UTC, with heavy quantities of 15.1 million establishes support.
- The recovery pattern shows a 6.4% bounce from $ 2.15 low to $ 2.28 nearby, indicating the underlying accumulation.
- The breakout above the $ 2.27 resistance at 11:50 AM UTC on August 26th was the constant purchase of pressure.
- The final 20-minute rally from $ 2.27 to $ 2.89 with a high volume of over 150,000 tokens confirms institutional flows.
- Classic accumulation of accumulation with integration -including around the $ 2.27 support zone to 11:47 AM UTC.
Denial: Parts of this article were formed with assistance from AI tools and our editorial team reviewed to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.
