Filecoin (FIL) reverses lower after earlier strength, underperforms wider crypto markets
Filecoin (FIL) reversed earlier gains to trade 1% lower, underperforming the broader crypto market.Summary
Filecoin (FIL) gave back earlier strength to trade 1% lower over the last 24 hours, significantly underperforming the broader crypto market, as indicated by the CoinDesk 20 index, which was modestly up 0.2%. Trading volatility was high, with FIL establishing a $0.08 range (6.4% of market value). Technical analysis showed a sharp rally from $1.22 to $1.26, hitting resistance at $1.266 on peak volume of 6.36 million tokens (140% above average). However, the final trading hour saw a dramatic reversal, with liquidation driving prices from $1.261 down to $1.20 after massive volume spikes confirmed institutional selling as the token broke support levels. Primary resistance is now set at $1.266, with support established in the $1.201-$1.207 zone.
(Source：CoinDesk)