Filecoin (FIL) climbed to around $2.44 on Sept. 8 after a strong intraday push from roughly $2.38, according to CoinDesk Research’s technical model. The token was about 2.8% higher over 24 hours as broader markets also edged up.
The model pinpoints a firm support band in the $2.38–$2.39 range, validated by an outsized trading spike during the 6:00 AM ET hour. Volume surged to roughly 7 million FIL in that window—well above the 24‑hour session average near 2.35 million—and coincided with a decisive bounce from roughly $2.40. High-volume validation at support improves the probability that short-term sellers were absorbed rather than price slipping through the zone.
Technical resistance has formed near $2.46, where price discovery encountered rejection during the same high-volume period. The model treats that level as the immediate ceiling: a sustained move above $2.46 on above-average volume would be required to confirm a fresh leg higher, while repeated rejections could keep FIL range-bound.
Short-term traders should watch whether follow-through volume appears on any push above $2.46; a breakout with sustained volume could open a test of higher short-term targets, while failure may see FIL revisit the $2.38 area. Pay attention to order-book depth and incoming on-chain metrics such as large transfers or staking activity, which can confirm whether the move is retail-driven or reflects larger holders reshaping positions.
Market context matters: the CoinDesk 20 gauge rose around 2.7% during the session, and Filecoin is hosting an X Spaces discussion about the future of AI tomorrow—an event that could boost attention and short-term flows. Institutional-style accumulation is suggested by consistent volume above averages during advances, but event-driven noise is possible.
Risk note: Crypto markets remain volatile. Technical patterns can fail and past performance is not a reliable predictor of future returns. Traders should weigh volume confirmation and broader market signals before entering positions.
Source: CoinDesk. Read the original coverage for full details.