Filecoin's FIL Pares Gains to Trade Little Changed After Testing $2.50 Resistance Level

Core Insights - Filecoin (FIL) exhibited minimal price movement over the last 24 hours, trading within a range of $0.08, reflecting a volatility of 3.3% between $2.41 and $2.50 [1][2] - A V-shaped recovery pattern was observed, with the asset initially declining to test institutional support levels before rebounding to $2.50 [1][5] - The broader cryptocurrency market also experienced a decline, with the CoinDesk 20 index down by 0.8% [2] Technical Analysis - Selling pressure was noted at the $2.50 resistance level, with institutional trading volume reaching 4.7 million tokens [2][5] - The $2.41-$2.42 price zone showed strong institutional support through multiple successful tests, with trading volume surpassing the 24-hour average of 2.80 million units [2][5] - The recent trading price of FIL was approximately $2.43, reflecting a 0.3% decrease over the last 24 hours [2]