rose over 4% to $1.65 early Tuesday afternoon, breaking above a key $1.60 psychological resistance, according to CoinDesk Research’s technical analysis model.
The model showed institutional accumulation with two large spikes above 140% of average volume.
The storage token decisively broke through the $1.60 resistance after weeks of consolidation, according to the model.
Price action demonstrated textbook institutional buying patterns with higher lows at $1.52 and $1.55, confirming the uptrend structure.
In recent trade, FIL was 4.4% higher over 24 hours, around $1.65.
The broader crypto market also rose, with the CoinDesk 20 Index rising over 3%.
Technical analysis:
- Primary support locked at $1.52 with $1.60 resistance decisively broken; next target $1.65 psychological level
- Extraordinary increases of 140% and 162% above average confirmed institutional accumulation during key breakout phases
- Clean breakout from consolidation with higher lows establishing a clear uptrend structure above $1.60
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
