Filecoin Gives Back Chunk of Recent Gain to Trade 2% Higher
Main Idea
Filecoin's FIL token initially surged 6% but faced resistance at $2.41, leading to a pullback and a net gain of 2% over 24 hours.
Key Points
1. Filecoin's FIL token surged 6% before encountering resistance at $2.41.
2. The token is currently trading at $2.325, up roughly 2% over the past 24 hours.
3. A horizontal support zone has formed around $2.27-$2.28.
4. The broader market, as measured by the CoinDesk 20, was up 1.9% at the time of publication.
Description
Filecoin (FIL) experienced a dramatic 6.1% surge on June 29, jumping from $2.31 to $2.41 with exceptionally high trading volume, before encountering resistance and reverting lower, according to CoinDesk Research's technical analysis model. The model showed that high-volume resistance has been established at the $2.41 leveI. Horizontal support zone has formed around $2.27-$2.28 where buyers consistently stepped in during consolidation, according to the model. In recent trading, FIL was 1.8% highe...
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