Filecoin Open Interest Readings Diverge as FIL Trades Lower

Filecoin (FIL) traded lower in a Binance market reading Oct. 11, while conflicting price, funding and futures-position readings left the token’s market picture unsettled.

FIL was listed at $1.10 at 6:56 a.m. ET (10:56 UTC), down 2.56% over 24 hours. Trading volume was about $9.9 million, and the token moved between $1.07 and $1.14 during the period.

Binance Futures open interest fell 11.17% to $54.3 million. Open interest measures the size of futures contracts that remain open.

Other Binance-linked market readings showed different results. Prices ranged from $0.8425 to $1.0766 across separate page captures and venue views. One futures reading placed open interest at $60 million, up 12.79% over 24 hours.

Funding data also varied. The eight-hour funding rate was listed at negative 0.0072% in one reading, while another showed negative 0.0009%. A separate funding-history reading showed positive settlements around the same period.

The technical assessment showed stalled MACD momentum alongside moving averages, the relative strength index, stochastic readings and order-flow measures. It placed immediate support at $1.07, stronger support at $1.04 and the lower Bollinger Band at $0.96. Resistance stood at $1.14, followed by stronger resistance at $1.17.

At 4 a.m. ET (08:00 UTC), Binance global-account positioning was 67.4% long and 32.6% short. Top traders were 70.7% long and 29.3% short. The one-hour taker buy-to-sell ratio was 0.7984, with 2,336,002 in sell volume and 1,865,052 in buy volume.

Filecoin is the token of a decentralized storage network. Binance identifies the relevant markets as FIL/USDT and FILUSDT. Earlier Filecoin coverage examined stalled momentum near resistance.