Filecoin Rebounds 6% From Lows in Bullish Reversal

Filecoin (FIL) rebounded 6% from its 24 hour lows in a strong bullish reversal, according to CoinDesk Research's technical analysis ￰0￱ model showed that FIL demonstrated resilience with a steady climb from the $2.15 low to close at $2.31, delivering a 6.4% rebound that signals underlying accumulation and potential trend reversal ￰1￱ trading volume was 75% above 30-day averages, signaling heightened institutional ￰2￱ storage token established strong support levels during the rebound, according to the ￰3￱ bounce in Filecoin came as the wider crypto market fell, with the broader market gauge, the Coindesk 20, down 2.1%. In recent trading, FIL was 0.9% higher over 24 hours, trading around $2.31.

Technical Analysis: Price range spans $0.15 (6.8%) between $2.31 peak and $2.15 trough during 24-hour ￰4￱ decline from $2.26 to $2.15 on Aug. 25 between 7-8 p. m. UTC, with heavy volume of 15.1 million establishes ￰5￱ recovery pattern shows a 6.4% bounce from $2.15 low to $2.28 close, indicating underlying ￰6￱ above $2.27 resistance at 11:50 ￰7￱ on Aug. 26 triggers sustained buying ￰8￱ 20-minute rally from $2.27 to $2.89 with elevated volume exceeding 150,000 tokens confirms institutional ￰9￱ accumulation behavior with consolidation around $2.27 support zone through 11:47 a. m.

UTC. 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 our ￰10￱ more information, see CoinDesk's full AI Policy .