Filecoin (FIL) reverses lower after earlier strength, underperforms wider crypto markets
Filecoin gave back earlier gains to trade 1% lower over the last 24 hours. as the storage token underperformed wider crypto markets.
The broader market gauge, the CoinDesk 20 index, was modestly higher at publication time, trading up 0.2% at 2,662.
Trading volatility intensified as the session progressed, with FIL establishing a $0.08 range representing 6.4% of market value, according to CoinDesk Research’s technical analysis model.
The model showed that peak volume was 6.36 million tokens, or 140% above the 24-hour average, propelling a sharp rally from $1.22 to $1.26 before meeting resistance at $1.266.
The final trading hour revealed dramatic reversal action as FIL fell from $1.266 resistance, accelerating into sharp…
