Filecoin (FIL) rose 2% over the last 24 hours, advancing from $2.37 to $2.42, according to CoinDesk Research's technical analysis model.

The model showed that the digital asset formed robust support at the $2.31 level.

The most notable price breakthrough materialized as FIL successfully penetrated the $2.37 resistance barrier amid heavy trading volume of 6,938,918, approximately three times the daily average, indicating significant institutional participation and validating the bullish momentum toward the $2.42 peak, according to the model.

In recent trading, Filecoin was 1.7% higher, around $2.415.

The wider crypto market also rose, with the broad market gauge, the CoinDesk 20, up 2%.

Technical Analysis:

• Solid support foundation confirmed at $2.31
• Critical resistance penetration at the $2.37 level
• Outstanding trading activity of 6,938,918 volume registered, approaching three times the daily average.
• Fresh resistance zone established at $2.43 accompanied by reduced volume approaching session closure.

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 .