Archivecoin rose 6% on Monday to $1.59 over the 24-hour period, outperforming the broader cryptocurrency market.
The market’s broadest indicator, the CoinDesk 20 index, was up 2.2% at press time.
The storage token rose from $1.51 to $1.59 during the session, creating a range of $0.21 (13.9%), while volume was recorded at approximately 91% of its 30-day average, suggesting controlled directional positioning rather than speculative froth, according to CoinDesk Research’s technical analysis model.
The model showed that the measured volume profile, which does not reach the 110% threshold indicating high institutional participation, pointed to efficient positioning by informed traders.
The outperformance against the crypto benchmark suggested rotational interest in storage infrastructure plays rather than Filecoin-specific developments, according to the model.
The rally occurred without clear fundamental catalysts, making technical factors the main driver, according to the model, with algorithmic momentum strategies responding to breakout signals rather than fundamental repositioning.
Technical analysis:
- Immediate support in the $1.58-$1.59 area; Break below $1.575 negates bullish structure
- Main support base in $1.50-$1.52 consolidation range established by high volume accumulation
- $1.63 Resistance Must Rebound with Sustained Volume to Continue
- Sessional high resistance at $1.68 represents a key bullish target
- 24-hour session volume at 91% of 30-day average indicated measured participation
- A recovery to $1.63 with a retest of session high volume targets of $1.68
- A break below $1.575 points to a support zone of $1.52-$1.54
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.
