FileCoin Rebound 6% from its 24 hours of lowness in a strong bullish reversing, according to Coindesk Research’s technical analysis model.
The model showed that file demonstrated resilience with a steady increase from $ 2.15 low to closure at $ 2.31, providing a 6.4% rebound that signalizes underlying accumulation and potential trend reversing momentum.
File trading volume was 75% over 30-day average, signaling for increased institutional interest.
The storage token established strong support levels under rebound according to the model.
Bounce in Filecoin came when the wider crypto market fell, with the wider market meter, Coindesk 20, down 2.1%.
In the latest trade, file was 0.9% higher over 24 hours and traded about $ 2.31.
Technical Analysis:
- Price range spans over $ 0.15 (6.8%) Between $ 2.31 top and $ 2.15 troughs under 24-hour session.
- Sharp decline from $ 2.26 to $ 2.15 on August 25 between 7 p.m. 19-8 UTC, with a large volume of 15.1 million, establishes support.
- The recovery pattern shows a 6.4% rejection from $ 2.15 low to $ 2.28 close, indicating underlying accumulation.
- Breakout over $ 2.27 Resistance at. 11:50 UTC on August 26, the end of the purchase is triggered.
- The last 20-minute rally from $ 2.27 to $ 2.89 with elevated volume exceeding 150,000 tokens confirms institutional currents.
- Classic accumulation behavior with consolidation around $ 2.27 support zone through 11:47 AM UTC.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
