FIL's Volatile Day: Buying Pressure & Resistance
Update: 2025-11-10
Description
Filecoin (FIL) saw a 2.4% price increase to $2.62 on November 10th, but technical analysis reveals underlying weakness. Despite the gain, large institutional investors activity caused a volatile day, with FIL trading within a 33-cent range, representing a 12.5% movement. A significant spike in trading volume around 3 AM, with 21.5 million tokens traded, indicated strong buying interest. This pushed FIL to an intraday peak of $2.93, but profit-taking set in, establishing $2.93 as a key resistance level. The broader markets 5.7% gain may have contributed to FILs initial climb, but its own technical factors determined its intraday performance and challenges in maintaining higher price levels.
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