Filecoin Surges 11% in a Single Day After Breaking Downtrend— Is a Trend Reversal Forming?
Filecoin (FIL) surged nearly 11.76% in 24 hours, trading at $1.45 with a daily volume increase of 225%, reaching $326 million. The rally is largely attributed to the upcoming launch of Onchain Cloud this month, which aims to expand Filecoin’s utility from storage distribution to programmable storage and retrieval, strengthening its role in DePIN and AI infrastructure.
Technically, FIL broke out of a downtrend, bouncing from the $1.20–$1.25 support zone and stabilizing around $1.45. If it holds above $1.35, further upside toward $1.50–$1.65 is possible. Key indicators like RSI above 50 and a bullish MACD crossover suggest growing momentum. However, a break below $1.25 could lead to further decline.
Derivative interest also rose significantly, with open interest up 28.99% to $200.39 million, reflecting increased trader confidence.
TheNewsCrypto01/02 11:36