Filecoin Trades Little Changed, Underperforms Wider Crypto Markets
Filecoin dropped 0.2% to $1.37 over the last 24 hours as the token underperformed the wider crypto markets.
The broader market gauge, the CoinDesk 20 index, was 3% higher at publication time.
FIL trading activity jumped 29% above the seven-day average, signaling heightened institutional interest, according to CoinDesk Research’s technical analysis model.
The elevated volumes suggested smart money repositioning, with buyers stepping in at key technical levels, the model showed.
Filecoin traded to a session high of $1.397 before distribution pressure mounted during the last hour, according to the model.
The move established new short-term resistance near $1.40 and support at $1.36.
Technical Analysis:
- Resistance formed at $1.40 session…
