Archivecoin delivered one of the cryptocurrency’s most explosive moves over the 24-hour period, rising from $1.33 to $2.27 in a rally that established the token as a clear sector leader, according to CoinDesk Research’s technical analysis model.
The 70% advance occurred in a total range of $0.95, and FIL demonstrated sustained momentum through three distinct phases of accumulation, breakout, and consolidation above psychological levels, according to the model.
The model showed that the most dramatic move materialized on November 7 at 00:00 UTC, when exceptional volume of 72.8 million tokens, 247% above the 24-hour simple moving average, drove prices through critical resistance at $1.93.
The rally peaked at $2.25 before consolidating above $2.00, validating the resilience of the broader uptrend despite minor pullback pressures toward the close of the session, the model revealed.
FIL’s performance coincided with broader strength across the decentralized physical infrastructure (DePIN) sector, which rose 11% while major cryptocurrencies traded mixed.
FIL’s huge rally came as other cryptocurrencies fell. The broader market gauge, the CoinDesk 20 index, was 1.8% lower at press time.
Technical analysis:
- Primary support was established above the psychological level of $2.15, with initial resistance at the previous high of $2.25.
- Progressive volume spikes exceeding one million tokens during the breakout phases confirmed institutional participation throughout the advance.
- The three-phase uptrend was completed with an accumulation around $1.34-1.38, a breakout rally to $1.95, and a final rise establishing a new range.
- Hourly momentum remained bullish despite over 15% volatility, with firm support above $2.00 validating the resistance of the uptrend.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk’s full AI policy.
