Filecoin Narrows Loss After 7% Slump

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 our standards . For more information, see CoinDesk’s full AI Policy .

Source: CoinDesk