FIL Plunges 6% as Selling Pressure Increases, Crypto Market Retracts
Filecoin
crashed 5.6% in the 24-hour trading session from July 14 10:00 UTC to July 15 09:00 UTC, sliding from $2.66 to $2.51, according to CoinDesk Research’s technical analysis model.
The model shows that the token posted a volatile 7.52% intraday movement.
The slump in token of the decentralized storage network came as the wider crypto market also fell, with the broader market gauge, the CoinDesk 20, recently down 3.8%.
Filecoin recently announced a partnership with blockchain Avalanche, aimed at optimizing smart contract handling and data storage.
In recent trading, FIL was 5.6% lower over 24 hours, trading around $2.51.
Technical Analysis:
- Price tumbled from $2.66 to $2.51, posting 5.6% decline
- Resistance solidifies at $2.66 level with…
