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$FIL Filecoin up 14%, crypto market improves due to ceasefire in Middle East,

Filecoin (FIL) has shown significant strength in the last 24 hours and its price has increased from $2.051 to a high of $2.3478,

According to CoinDesk’s technical analysis report, a strong support zone has been established between $2.24 and $2.25, which has been confirmed by the price going above this limit several times,

During this time, Filecoin’s price has recorded a 13.6% increase, while the overall crypto market has also seen an improvement and the CoinDesk 20 Index has increased by 8.7%.

The analysis shows that there is a clear upward trend in price volatility, especially around 10 pm on June 23 when the price went above $2.27 and trading volume remained higher than usual during this time,

Four-hour The price has been in a consolidation range of $2.27 to $2.30, signaling investors are gathering ahead of a potential rally.

However, the $2.31 level is currently acting as a barrier.

The last hour saw a sharp uptrend in the Filecoin price, with the price ranging between $2.29 and $2.30 before a sudden decline to establish a new support level of $2.28.

During this decline, trading volume increased significantly, especially at 15:42 when 112,000 units were bought and sold, indicating strong market interest.

Later, the price climbed back above $2.29 to reach a high of $2.301, indicating that the bullish trend is still strong in the market.

These reports are generated by CoinDesk’s AI-based analytics tool, which aggregates market data and provides analysis with the help of human reporters.

The specialty of this tool is that it prioritizes accuracy, transparency and editorial oversight to provide investors with reliable information .....

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This is not financial advice from the author of the post, if you want to invest in the crypto market, then do thorough research first, then buy.