Filecoin (FIL) Price Gains Momentum as Bullish Pattern Holds Above $2.30 Support

Filecoin (FIL) has demonstrated notable strength over the past 24 hours, climbing 4% and trading around $2.38 at the time of writing. According to CoinDesk Research’s technical analysis model, the token advanced from a daily low of $2.25 to a high of $2.38, confirming strong short-term bullish momentum.

Despite volatility during the mid-session, FIL maintained buying pressure near the $2.31 support level, signaling resilience among traders. The model highlighted that this zone attracted high-volume confirmation, reinforcing its role as a key level to watch. Early rejections near $2.36 initially signaled resistance, but sustained recovery allowed the price to break through this barrier, establishing a more optimistic outlook for the token.

The recovery trajectory seen in Filecoin price action points to renewed investor confidence, with the token consolidating gains while staying above crucial support. Technical indicators suggest that holding above $2.31 could pave the way for further advances if momentum continues. Traders are now eyeing $2.40 as the next potential upside target, provided buying activity remains steady.

On the fundamental side, Filecoin also gained attention from industry news. IoTeX announced the launch of the Real World AI Foundry, a global initiative designed to establish shared standards for artificial intelligence trained on live data. Filecoin has joined the alliance as an alignment partner, strengthening its position in the broader blockchain and AI ecosystem.

The overall cryptocurrency market followed a similar bullish trend, with the CoinDesk 20 index rising 3%. This broader recovery provided additional tailwinds for FIL’s upward trajectory.

In summary, Filecoin’s latest performance highlights strong bullish sentiment supported by both technical and fundamental factors. With key support established around $2.31 and resistance being tested above $2.36, the token appears poised for potential further gains if the market maintains its positive momentum.