Filecoin (FIL) exhibited high volatility throughout the 24-hour trading session, registering a comprehensive 7% range, according to CoinDesk Research's technical analysis model.

The model showed that FIL hit a high of of $2.68 and a subsequent low of $2.49, during the period.

FIL endured a precipitous decline commencing approximately 07:00 on Aug. 11, down markedly to $2.49 by midday accompanied by robust volume of 8.88 million during the 12:00 trading hour, consequently establishing substantial volume-supported foundations at approximately $2.49, according to the model.

The token has recouped some of its earlier losses to trade 2% lower over 24 hours, at around $2.56.

The bounce in FIL came as the wider crypto market rose, with the broader market gauge, the Coindesk 20, recently up 1.1%.

Technical Analysis:

• FIL traded between $2.49-$2.68 during the 24-hour period
• Substantial resistance established at the $2.68 level with volume exceeding 3.80 million.
• Robust support materialised at $2.49 with peak volume of 8.88 million during the 12:00 hour.
• The token has recouped some its earlier losses to trade 2% lower over 24-hours
• Increasing volume during the recovery phase with peak at 78,053 units suggests renewed purchasing interest.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to . For more information, see .