rose more than 4% to $1.65 early Tuesday afternoon, surpassing a key psychological resistance at $1.60, according to CoinDesk Research’s technical analysis model.
The model showed institutional accumulation with two major peaks above 140% of average volume.
The storage token decisively broke the $1.60 resistance after weeks of consolidation, according to the model.
The price action demonstrated textbook institutional buying patterns with higher lows at $1.52 and $1.55 confirming the uptrend structure.
In recent trading, FIL was up 4.4% in 24 hours, around $1.65.
The broader crypto market also rose, with the CoinDesk 20 index rising more than 3%.
Technical analysis:
- Primary support was locked at $1.52 and the resistance at $1.60 was decisively surpassed; next target psychological level of $1.65
- The exceptional spikes of 140% and 162% above average confirmed institutional accumulation during key breakout phases.
- Clean breakout of consolidation with higher lows establishing a clear uptrend structure above $1.60
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 with our standards. For more information, see CoinDesk’s full AI Policy.
