FIL Price Breaks Key Resistance as Volume Spikes 135%

Filecoin (FIL) saw a notable 2% rally over the past 24 hours, breaking through the key resistance level at $1.63 on its strongest trading volume in three days. According to CoinDesk Research’s technical analysis model, FIL’s momentum was fueled by a sharp volume surge to 6.85 million tokens at 3:00 p.m. ET—an impressive 135% jump above the 24-hour average of 3.51 million. This influx of activity signaled heightened market interest and suggested growing institutional participation as the price pushed higher.

The breakout above $1.63 marked a decisive shift in market structure, as this level had capped gains during the previous two sessions. Following morning lows, FIL accelerated upward and touched intraday highs of $1.68 before stabilizing near current price levels. The move aligned with broader strength across the digital asset market, with the CoinDesk 20 index rising 4.3% during the same period, reflecting improving sentiment across major cryptocurrencies.

Technical indicators showed that FIL maintained critical support at the $1.657–$1.658 Fibonacci zone, bolstered by psychological support around the $1.60 level. Immediate resistance remains near the $1.668 session high, with extension targets pointing toward the $1.6808 peak. A successful continuation toward the $1.70 psychological barrier would represent an additional 2.7% upside from current levels. Meanwhile, the pullback volume of just 288,000 tokens during a late-session decline suggested mild profit-taking rather than any major selling pressure.

For traders, the recent price action may offer a favorable setup, with a stop-loss placed below the $1.657 support providing an attractive 2:1 risk-to-reward ratio for long positions. As volume trends strengthen and resistance levels weaken, FIL’s latest breakout adds momentum to its short-term bullish outlook.