Filecoin (FIL) delivered one of the cryptocurrency’s most explosive 24-hour moves, rising from $1.33 to $2.27 in a rally that made the token a clear leader in the sector, according to CoinDesk Research’s technical analysis model.
The 70% advance occurred across an overall range of $0.95, with FIL showing sustained momentum through three distinct phases of accumulation, breakout, and consolidation above psychological levels, according to the model.
The model showed that the most dramatic move was achieved on November 7 at 00:00 UTC when an exceptional volume of 72.8 million tokens, i.e. 247% above the 24-hour simple moving average, pushed prices through the critical resistance at $1.93.
The model revealed that the rally peaked at $2.25 before settling into consolidation above $2.00, confirming the resilience of the broader uptrend despite minor correction pressures towards the session close.
FIL’s performance coincided with broader strength across the decentralized physical infrastructure (DePIN) sector, which jumped 11% while major cryptocurrencies traded mixed.
The big rise in FIL came as other cryptocurrencies declined. The broader market gauge, the CoinDesk 20 Index, was down 1.8% at press time.
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Key support has been established above the psychological level at $2.15, with initial resistance at the previous high of $2.25.
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Gradual increases in volume exceeding 1 million tokens during the breakout stages confirmed institutional participation throughout the progress.
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The three-stage uptrend was completed with a buildup around $1.34-1.38, a breakout rally to $1.95, and a recent rally that created a new range.
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Hourly momentum remained bullish despite volatility above 15%, with strong support above $2.00 confirming the resilience of the upside.
Disclaimer: Portions of this article were created with the help of artificial intelligence tools and reviewed by our editorial team for accuracy and adherence Our standards. For more information, see CoinDesk’s full AI policy.
