Filecoin Rises Above $1.29 Resistance, Targets $1.33-$1.335
Filecoin (FIL) climbed about 4% from $1.27 to $1.32 after breaking above the key $1.29 resistance zone, with an intraday high reaching approximately $1.325. The breakout was confirmed by a surge in trading volume, which peaked at 2.9 million FIL—around 87% above the 24-hour average of 1.55 million. CoinDesk Research's technical analysis model suggests institutional accumulation, evidenced by a pattern of higher lows supplanting previous retail volatility. Confirmed higher lows at $1.260, $1.277, and $1.291 trace an ascending trendline that indicates sustained momentum. The breakout above $1.29 has turned that level into new support, which is now anchored prior to immediate resistance targets near $1.33 to $1.335. Continued strength above $1.32 could favor further upside movement targeting this resistance cluster. Additionally, the wider cryptocurrency market experienced gains alongside FIL, with the CoinDesk 20 index rising roughly 2.5% at the time of publication.
