FileCoin Spiked 3% followed by a 2% decrease when volatile trading configurations emerged in the middle of developing market dynamics, according to Coindesk Research’s technical analysis model.
In the recent trading file, file was 3.4% higher over 24 hours and traded about $ 2.32.
The model showed that the total trading area was $ 0.15 or 6%between the low $ 2.23 and the high of $ 2.38.
Critical resistance is materialized to $ 2.38 with high volume rejection during spectacle activity according to the model.
The wider crypto market was slightly changed with the wide market meter, Coindesk 20, an increase of 0.2%.
Technical Analysis:
- File progressed from $ 2.25 to $ 2.32 representing a 3% gain in the previous 24-hour period
- Total Trade area that includes $ 0.15 (6%) Between the absolute Nadir of $ 2.23 and Zenith of $ 2.38.
- Two distinctive rally phases were identified: a preliminary increase to $ 2.28 followed by another increase on September 5th.
- Price track peaked at $ 2.38 at unusually elevated volume of 7.23 million, which essentially exceeded the 24-hour average of 2.47 million.
- Critical resistance is materialized to $ 2.38 with high volume rejection during spectacle activity.
- Support levels consolidated around $ 2.23- $ 2.24 in the first trading times.
- Subsequent decline from $ 2.36 to $ 2.32 representing a 2% contraction over the past 60 minutes.
- Extraordinary volume tips reaching 425,701, indicating institutional sales pressure.
- Significant institutional sales volume peaked at almost twice the session average during the final hour.
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.
