Filecoin (FIL) Rises 2.2% as Crypto Markets Rally
Filecoin climbed 2% to $1.57 over the last 24 hours, posting modest gains that tracked broader cryptocurrency market movements.
The broader market gauge, the CoinDesk 20 index, rose 1.6%.
The token’s volume stayed subdued at just 9.7% above seven-day averages, according to CoinDesk Research’s technical analysis model.
Price action showed Filecoin’s persistent correlation with wider crypto markets. The token posted only 1% idiosyncratic movement versus the broader digital asset complex, well below the 5% threshold signaling independent price discovery, the model said.
Technical factors dominated trading with no Filecoin-specific catalysts driving sentiment, according to the model.
The model showed that the token built an ascending trendline…
