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By CD Analytics, Will Canny|Edited by Sheldon Reback
Jul 3, 2025, 1:39 p.m.
- FIL gained as much as 9% as crypto markets rallied.
- The token has now formed strong support at the $2.40 level.
- Filecoin is holding an informal networking evening on July 3 in Cannes.
Filecoin
surged as much as 9% in the last 24 hours, climbing from $2.24 to $2.44 with exceptional volume support at the $2.30 level, according to CoinDesk Research’s technical analysis model.
The model showed that FIL has established strong support at $2.40 despite wider market uncertainty.
STORY CONTINUES BELOW
Filecoin is holding an informal networking evening on July 3 in Cannes, aligned with EthCC.
The rally in Filecoin came as the wider crypto market also rose, with the broader market gauge, the Coindesk 20, recently up 3.9%.
In recent trading, FIL was 6.4% higher over 24 hours, trading around $2.395.
Technical Analysis:
- FIL traded within an $0.19 range (8.5%) between the low of $2.24 and high of $2.44 during the last 24 hours
- Most significant price movement occurred during the 16:00 hour on July 2, with a 5.2% surge on high volume (11 million units), establishing strong support at $2.30.
- After reaching $2.44 at 07:00 on July 3, FIL entered consolidation with increased selling pressure forming resistance around $2.42.
- During the 60-minute period from July 3 11:50 to 12:49, FIL showed high volatility with an uptrend to $2.42 at 12:30, followed by a sharp 4.5% correction to $2.37.
- Notable volume spike (739,000 units) at 12:30-12:31 triggered the reversal, with support established at $2.38.
- Decreasing volume in final minutes suggests consolidation after the volatile hour.
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 CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
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.
