By ,
Jun 30, 2025, 7:45 p.m.
- Filecoin surged 6% before struggling at the $2.41 resistance level and slipping lower.
- The token is currently at $2.325, up roughly 2% over the past 24 hours.
Filecoin
experienced a dramatic 6.1% surge on June 29, jumping from $2.31 to $2.41 with exceptionally high trading volume, before encountering resistance and reverting lower, according to CoinDesk Research’s technical analysis model.
The model showed that high-volume resistance has been established at the $2.41 leveI.
STORY CONTINUES BELOW
Horizontal support zone has formed around $2.27-$2.28 where buyers consistently stepped in during consolidation, according to the model.
In recent trading, FIL was 1.8% higher over 24 hours at around $2.325 The broader market gauge, the CoinDesk 20, was up 1.9% at publication time.
Technical Analysis:
- FIL exhibited a dramatic 6.05% price surge during the 22:00 hour on June 29, jumping from $2.31 to $2.41 with exceptionally high volume of 7.6 million.
- Clear high-volume resistance established at the $2.41 level, with overall price range of $0.14 (5.97%) during the 24-hour period.
- Horizontal support zone formed around $2.27-$2.28 where buyers consistently stepped in during consolidation.
- Descending channel formed after resistance test, dropping to $2.29 by 18:33 before recovering to close at $2.30.
- Volume spikes occurred during key reversals, particularly at 18:32 (72.7K) and 18:46 (70.3K), suggesting institutional participation at $2.295 support.
Will Canny is an experienced market reporter with a demonstrated history of working in the financial services industry. He’s now covering the crypto beat as a finance reporter at CoinDesk. He owns more than $1,000 of SOL.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from and other sources to create timely market reports, with all external sources clearly attributed within each article.
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