Confronted intense sales pressure as the Token penetrated multiple support thresholds at $ 2.39, $ 2.37 and $ 2.36 amid exceptionally robust negotiation volumes on Tuesday morning during the United States negotiation session, according to the technical analysis model of Coindesk Research.
The model showed that the native cryptocurrency of the decentralized storage network experienced its most severe contraction during the last time of negotiation, with an obvious panic sale as the volume reached 530,000 in a unique minute.
The Token violated the key support levels in the midst of institutional settlement and the sale of high volume, according to the model.
The last week he saw Core protocol updates, new AI initiatives and continuous preparations for Fil Dev Summit 7, the network said in an X publication.
In recent trade, Filecoin was 4.4% lower, around $ 2.31.
The largest cryptographic market also decreased, with the wide caliber of the market, Coindesk 20, 3.4% less.
Technical analysis:
- The resistance levels at $ 2.41- $ 2.42 remained firmness during the first negotiation sessions before the posterior breakdown.
- Multiple support thresholds violated $ 2.39, $ 2.37 and $ 2.36 that indicate technical vulnerability.
- The volume increases to 5.67 million during the sale of the sale of institutional settlement patterns.
- The volume peak of a single minute of 530,000 suggests the sale of panic and capitulation.
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