Filecoin (FIL) Shows Strong Momentum Amid Rising Crypto Market

Filecoin (FIL) posted solid gains in the past 24 hours, climbing from $2.38 to $2.44, according to CoinDesk Research’s technical analysis. The move highlighted growing investor interest, with strong support forming between $2.38 and $2.39. This support was reinforced by heavy trading activity, particularly during the 6:00 AM ET session, when transaction volume spiked to 7 million units—well above the 24-hour average of 2.35 million. This surge coincided with a sharp rebound from the $2.398 level, underscoring bullish momentum.

Resistance emerged near $2.46, where FIL faced notable rejection during the same high-volume period. This price level has now become a key technical ceiling for short-term traders. Despite the rejection, overall sentiment remains positive as sustained trading volume above average levels points to possible institutional accumulation.

At the time of writing, FIL was trading around $2.44, marking a 2.8% daily increase. The wider cryptocurrency market mirrored these gains, with the CoinDesk 20 index climbing 2.7%, signaling broader market strength. Analysts note that such movements could be early signals of a potential “alt season,” with retail investors showing renewed activity across altcoins.

Adding to the buzz, Filecoin announced a community discussion on X Spaces tomorrow, focusing on the future of artificial intelligence and blockchain integration. The event is expected to draw attention from both retail and institutional participants, potentially adding to FIL’s momentum.

With robust support levels, heightened trading activity, and broader market optimism, Filecoin remains one of the tokens to watch closely as the crypto market gears up for possible further rallies.