Filecoin Rebounds 6% From Lows in Bullish Reversal
Filecoin FIL$2.3036 rebounded 6% from its 24 hour lows in a strong bullish reversal, according to CoinDesk Research's technical analysis model.
The model showed that FIL demonstrated resilience with a steady climb from the $2.15 low to close at $2.31, delivering a 6.4% rebound that signals underlying accumulation and potential trend reversal momentum.
FIL trading volume was 75% above 30-day averages, signaling heightened institutional interest.
The storage token established strong support levels during the rebound, according to the model.
The bounce in Filecoin came as the wider crypto market fell, with the broader market gauge, the Coindesk 20, down 2.1%.
In recent trading, FIL was 0.9% higher over 24 hours, trading around $2.31.
Technical Analysis:
- Price range spans $0.15 (6.8%) between $2.31 peak and $2.15 trough during 24-hour session.
- Sharp decline from $2.26 to $2.15 on Aug. 25 between 7-8 p.m. UTC, with heavy volume of 15.1 million establishes support.
- The recovery pattern shows a 6.4% bounce from $2.15 low to $2.28 close, indicating underlying accumulation.
- Breakout above $2.27 resistance at 11:50 a.m. UTC on Aug. 26 triggers sustained buying pressure.
- Final 20-minute rally from $2.27 to $2.89 with elevated volume exceeding 150,000 tokens confirms institutional flows.
- Classic accumulation behavior with consolidation around $2.27 support zone through 11:47 a.m. UTC.
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.
You may also like
"Trump's Wind Power U-Turn Undermines Clean Energy Future"
- Trump administration cancels $679M in offshore wind funding for 12 projects, including a $6.2B nearly completed wind farm, citing national security concerns. - Move triggers legal backlash and threatens $6.2B in investments, 8,000+ jobs, and grid reliability in renewable-dependent Northeast regions. - Analysts warn sudden reversals undermine investor confidence in clean energy, with inconsistent federal support risking U.S. climate goals and energy transition. - Renewable energy now supplies 40% of U.S.
The Misdirected Focus on Crypto: Why Traditional Banking Systems Dominate Illicit Finance
- Traditional banking systems dominate illicit finance, with $3T in 2023 vs. $40.9B in crypto crimes (0.14% of crypto transactions). - Crypto's blockchain transparency creates a "halo effect," overshadowing traditional banking's opaque $4-10T annual money laundering via shell companies. - Regulators focus on crypto enforcement risks diverting attention from systemic banking flaws, as 42 BSA/AML actions in 2024 included a $1.3B record fine. - Investors must balance crypto's regulatory volatility against tra
Ethereum vs. Avalon X: Why Immediate Real-World Rewards Make AVLX a Stronger Short-Term Play
- -2025 crypto investors balance long-term innovation with short-term gains as Ethereum (ETH) and Avalon X (AVLX) compete for capital. - -Ethereum's $13.3B ETF inflows in Q3 2025 reinforce its institutional adoption, but lack immediate utility for short-term traders. - -Avalon X's RWA tokenization model offers tangible real-world value through luxury real estate, deflationary mechanics, and $1M presale incentives. - -AVLX's hybrid model combines token appreciation with physical asset access, creating risk-
Arthur Hayes Predicts Massive Cryptocurrency Growth by 2028
In Brief Arthur Hayes predicts substantial value increases for Ethena, Ether.fi, and Hyperliquid by 2028. Stablecoin use is bolstered by U.S. Treasury policies, enhancing DeFi projects. Codex may emerge as the first genuine crypto bank, supporting SMEs in developing regions.
Trending news
MoreCrypto prices
More
