Filecoin has posted an unusually high trading volume of approximately $707 million over the past two weeks, nearly matching its entire circulating supply of 718 million FIL. This scale of turnover is rare and potentially indicative of significant repositioning—whether accumulation, distribution, or internal transfer activity.
Price Structure and Trend Context
Weekly Breakout from Consolidation:
Price broke above a multi-month range, fueled by aggressive buying volume. The breakout occurred from a defined accumulation channel, indicating a shift in market intent.
Immediate Rejection Below Key Resistance:
Despite the breakout, the current weekly candle shows a long upper wick, signaling strong rejection just below the $2.69 level—aligned with the 1D R2 pivot. This suggests that sellers remain active at higher levels.
EMA Landscape – Dynamic Resistance Zone
50 EMA: Price is currently testing this level. A weekly close above would be the first since early 2023.
100 EMA: Rejection occurred just beneath this level. It remains a mid-term resistance.
200 EMA: Positioned far above current price (~$16), reflecting the longer-term bearish trend still in place.
This cluster of downward-sloping EMAs forms a compression zone, where historical bear market pressure tends to resurface.
Key Technical Levels
Support:
1D Pivot: $1.48 – must hold to preserve bullish breakout structure.
1.90–1.95 zone: Local demand zone following recent breakout.
Resistance:
1D R1: $2.22 – current price area; key pivot level.
1D R2: $2.69 – recent rejection zone.
Historical Supply Zone: $3.90–$4.20 – area of potential distribution or trap.
1W Pivot Target: $6.88 – projected long-term bullish target, contingent on clear break and close above $2.69.
Momentum Indicators
MACD:
Bullish crossover forming. Histogram turning positive, suggesting a potential trend reversal in progress.
RSI:
Currently at 40.6 – still in neutral territory with room for upside. An early-stage breakout signal if momentum sustains.
Price Structure and Trend Context
Weekly Breakout from Consolidation:
Price broke above a multi-month range, fueled by aggressive buying volume. The breakout occurred from a defined accumulation channel, indicating a shift in market intent.
Immediate Rejection Below Key Resistance:
Despite the breakout, the current weekly candle shows a long upper wick, signaling strong rejection just below the $2.69 level—aligned with the 1D R2 pivot. This suggests that sellers remain active at higher levels.
EMA Landscape – Dynamic Resistance Zone
50 EMA: Price is currently testing this level. A weekly close above would be the first since early 2023.
100 EMA: Rejection occurred just beneath this level. It remains a mid-term resistance.
200 EMA: Positioned far above current price (~$16), reflecting the longer-term bearish trend still in place.
This cluster of downward-sloping EMAs forms a compression zone, where historical bear market pressure tends to resurface.
Key Technical Levels
Support:
1D Pivot: $1.48 – must hold to preserve bullish breakout structure.
1.90–1.95 zone: Local demand zone following recent breakout.
Resistance:
1D R1: $2.22 – current price area; key pivot level.
1D R2: $2.69 – recent rejection zone.
Historical Supply Zone: $3.90–$4.20 – area of potential distribution or trap.
1W Pivot Target: $6.88 – projected long-term bullish target, contingent on clear break and close above $2.69.
Momentum Indicators
MACD:
Bullish crossover forming. Histogram turning positive, suggesting a potential trend reversal in progress.
RSI:
Currently at 40.6 – still in neutral territory with room for upside. An early-stage breakout signal if momentum sustains.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.