FileCoin (file) showed sharp volatility with a trade range of over 6% over the past 24 hours, according to Coindesk Research’s technical analysis model.
The token broke key support at $ 2.38 level of high volume showed the model.
AI -Platform SingularityNet has chosen Filecoin for metadata storage through the lighthouse, according to a post of X.
In the latest trade, file was 4.6% lower over 24 hours and traded about $ 2.36.
The fall in Filecoin came when the wider crypto market also fell, with the wider market meter, Coindesk 20, recently 3.6% lower.
Technical Analysis:
- Filecoin encountered a significant bearish momentum in the 24-hour period.
- Cryptocurrency violated significant support for $ 2.38 during trade overnight, with volume waves reaching 7.54 million, indicating potential institutional distribution activity
- Falling channel pattern formed in the last 60 minutes of trading period.
- Failed to recover the most important technical levels that suggest continued momentum.
- File demonstrated recovery signals in the last hour and went on to $ 2.35 with strong purchasing interests and volume on 91,211 shares.
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.
