#Filecoin The Filecoin currency ($FIL ) showed relative strength over the past 24 hours, rising from $2.051 to a peak of $2.3478,
The model showed strong support around the $2.24-$2.25 range, which was confirmed by multiple tests with the price bouncing back up each time.
In recent trades, the price of $FIL has risen.
up by 13.6% over 24 hours to around $2.35. The broader market index, CoinDesk 20, rose by 8.7% at the time of publication.
Technical Analysis:
The price movement formed a clear upward trend with higher highs and lows, particularly highlighted at 10 PM on June 23 when the price surpassed $2.27 with a trading volume much higher than average (7.58 million).
Strong support was established around the $2.24-$2.25 level, which was confirmed by several tests with the price bouncing back up each time.
Stability over the four-hour period between $2.27-$2.30 indicates accumulation before the next potential rise, with the $2.31 level now representing immediate resistance.
In the last 60 minutes, the pair #FILUSDT showed notable volatility with a clear stabilization pattern followed by significant price movement.
The currency traded within a tight range between $2.29-$2.30 for most of the period before experiencing a sharp decline to $2.28 around 15:41, forming a new support level at $2.285.
The trading volume increased significantly during this correction, especially at 15:42, where more than 112,000 units were traded, indicating strong market participation.
The last few minutes saw a notable rebound, with the price rising again above $2.29, peaking at $2.301 at 15:52, with a large trading volume (124,097), indicating renewed upward momentum despite the previous pullback.