Filecoin (FIL) Price Rallies Above Key Resistance as Institutional Buying Drives Momentum

Filecoin (FIL) recorded a notable price increase over the past 24 hours, advancing 4.3% to trade around $1.32 as strong institutional flows helped the token break through critical resistance levels. The move reflects renewed bullish momentum for Filecoin, supported by rising volume and improving technical indicators, according to CoinDesk Research’s technical analysis model.

The price advance developed within a relatively controlled $0.06 range, suggesting steady accumulation rather than speculative volatility. This structure allowed traders to position for potential follow-through gains as the market established higher lows and stronger support zones. Volume confirmation played a key role in validating the breakout, with trading activity spiking around midnight UTC when approximately 2.9 million FIL tokens changed hands. This represented an 87% increase compared with the 24-hour average volume of roughly 1.55 million tokens, underscoring strong market participation.

Technically, FIL’s move above the $1.29 resistance level marked a pivotal shift. That level has now transitioned into primary support, reinforcing the bullish setup. The emergence of higher lows at approximately $1.260, $1.277, and $1.291 suggests sustained buying interest, which analysts interpret as signs of institutional accumulation replacing short-term retail-driven price swings. This ascending trend structure strengthens the case for continued upside momentum.

The latest push above $1.32 occurred alongside elevated volume, placing focus on the next resistance cluster between $1.33 and $1.335. This zone represents the immediate upside target if bullish conditions persist. Risk-reward metrics currently favor continuation above the $1.32 level, provided FIL maintains support near $1.29.

Filecoin’s rally unfolded in tandem with broader strength across the cryptocurrency market. At the time of publication, the CoinDesk 20 index was up 2.5%, reflecting a generally positive risk-on environment. As long as volume remains supportive and higher-low patterns continue to form, FIL price action suggests growing confidence among larger market participants and the potential for further gains in the near term.