Filecoin Jumps More Than 4% After Retaking $1.60 Resistance Level

FIL$1.6448 surged over 4% to $1.65 on Tuesday early afternoon, breaking above a key $1.60 psychological resistance, according to CoinDesk Research’s technical analysis model.

The model showed institutional accumulation with two major spikes above 140% of average volume.

The storage token broke decisively through $1.60 resistance after weeks of consolidation, according to the model.

Price action demonstrated textbook institutional buying patterns with higher lows at $1.52 and $1.55 confirming the uptrend structure.

In recent trading FIL was 4.4% higher over 24 hours, around $1.65.

The wider crypto market also rose, with the CoinDesk 20 index up over 3%.

Technical Analysis:

• Primary support locked at $1.52 with $1.60 resistance decisively breached; next target $1.65 psychological level
• Exceptional spikes at 140% and 162% above average confirmed institutional accumulation during key breakout phases
• Clean breakout from consolidation with higher lows establishing clear uptrend structure above $1.60

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.