Filecoin (FIL) Holds Steady as Institutional Support Anchors Price Action

Filecoin (FIL) traded relatively unchanged over the past 24 hours, hovering around $2.44 after moving within a narrow $0.08 range between $2.41 and $2.50, according to CoinDesk Research’s technical analysis model. This limited movement reflects a 3.3% volatility window, highlighting both resilient support and strong selling pressure at key institutional levels.

The model highlighted a clear V-shaped recovery, as FIL briefly dipped from $2.44 to test institutional support between $2.41 and $2.42 during overnight trading. Buyers quickly stepped in, fueling a rebound that pushed the token up to $2.50 in the morning. However, resistance intensified at this threshold, with 4.7 million tokens traded, significantly above the daily average volume of 2.80 million units.

Despite attempts to break higher, FIL faced persistent selling pressure at $2.50, a critical resistance zone. On the downside, institutional demand repeatedly defended the $2.41-$2.42 range, confirming this area as a strong support base. This consistent backing suggests traders view the zone as a favorable entry point, reinforcing near-term price stability.

At the time of writing, FIL was trading around $2.43, down 0.3% on the day. The broader crypto market also saw weakness, with the CoinDesk 20 index slipping 0.8%.

Technical indicators remain mixed, but the price action points to an institutionally supported recovery pattern. Key takeaways include the V-shaped rebound, reinforced support at $2.41-$2.42, and heavy resistance at $2.50. With above-average trading activity concentrated at these levels, FIL’s short-term trajectory will likely hinge on whether buyers can generate enough momentum to break resistance or if sellers will continue to cap upside potential.