Filecoin
experienced a dramatic 6.1% surge on June 29, jumping from $2.31 to $2.41 with exceptionally high trading volume, before encountering resistance and reverting lower, according to CoinDesk Research’s technical analysis model.
The model showed that high-volume resistance has been established at the $2.41 leveI.
Horizontal support zone has formed around $2.27-$2.28 where buyers consistently stepped in during consolidation, according to the model.
Technical Analysis:
- FIL exhibited a dramatic 6.05% price surge during the 22:00 hour on June 29, jumping from $2.31 to $2.41 with exceptionally high volume of 7.6 million.
- Clear high-volume resistance established at the $2.41 level, with overall price range of $0.14 (5.97%) during the 24-hour period.
- Horizontal support zone formed around $2.27-$2.28 where buyers consistently stepped in during consolidation.
- Descending channel formed after resistance test, dropping to $2.29 by 18:33 before recovering to close at $2.30.
- Volume spikes occurred during key reversals, particularly at 18:32 (72.7K) and 18:46 (70.3K), suggesting institutional participation at $2.295 support.
