Filecoin Surges 5%, Forms Distinct Uptrend
Filecoin
The rally produced lows at $2.54 and $2.55 that served as reliable support zones, while encountering initial resistance near $2.62-$2.63 before achieving a decisive breakthrough during Asian market hours.
Theoriq AI is working with the Filecoin Foundation to develop AI agents trained on open data from the network, Filecoin said in a tweet on X yesterday.
The rally in Filecoin came as the wider crypto market also rose, with the broader market gauge, the CoinDesk 20, recently up 4%.
Technical Analysis:
- FIL ranged from $2.56 to $2.66 during the 24-hour session, achieving a robust 4.75% increase.
- The cryptocurrency developed successive higher lows at $2.54 and $2.55 price points offering reliable support throughout the trading period.
- Resistance materialized near $2.62-$2.63 before experiencing a definitive breach during the Asian morning.
- Volume examination indicates substantial institutional engagement with peaks surpassing 5.4 million at around 05:00 UTC, markedly above the 24-hour mean of 2.8 million.
- The total trading bandwidth encompasses $0.15 between the absolute peak of $2.69 and valley of $2.54, establishing a 5.56% fluctuation range.
- The sharp reversal from the $2.66-$2.67 resistance area coincided with elevated volume exceeding 150,000.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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