rose over 4% to $1.65 on Tuesday afternoon, surpassing a significant $1.60 psychological barrier, as per CoinDesk Research’s technical analysis model.
The analysis indicated institutional accumulation with notable spikes exceeding 140% of the average volume.
The storage token broke clearly through the $1.60 resistance after a period of consolidation, according to the model.
Price behavior reflected standard institutional buying patterns, with higher lows at $1.52 and $1.55 affirming the uptrend.
Recently, FIL was up by 4.4% in 24 hours, hovering around $1.65.
The broader crypto market also experienced gains, with the CoinDesk 20 index rising over 3%.
Technical Insights:
- Key support established at $1.52 with $1.60 resistance effectively broken; next target is the psychological level at $1.65
- Remarkable spikes at 140% and 162% above average confirmed institutional accumulation during critical breakout phases
- Clear breakout from consolidation with higher lows, creating a distinct uptrend structure above $1.60
Disclaimer: Portions of this article were created with the help of AI tools and reviewed by our editorial team for accuracy and compliance with our standards. For further details, see CoinDesk’s complete AI Policy.
