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Filecoin Plunges 6% as Selling Pressure Increases, Crypto Market Retracts
Resistance has now formed at the $2.66 level with support established around $2.50.
Updated Jul 15, 2025, 10:37 a.m. Published Jul 15, 2025, 10:30 a.m.
What to know:
- Filecoin fell 6% amid a sell off in crypto markets.
- The token is currently testing support at the $2.50 level.
Filecoin crashed 5.6% in the 24-hour trading session from July 14 10:00 UTC to July 15 09:00 UTC, sliding from $2.66 to $2.51, according to CoinDesk Research's technical analysis model.
The model shows that the token posted a volatile 7.52% intraday movement.
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The slump in token of the decentralized storage network came as the wider crypto market also fell, with the broader market gauge, the CoinDesk 20, recently down 3.8%.
Filecoin recently announced a partnership with blockchain Avalanche, aimed at optimizing smart contract handling and data storage.
In recent trading, FIL was 5.6% lower over 24 hours, trading around $2.51.
Technical Analysis:
- Price tumbled from $2.66 to $2.51, posting 5.6% decline
- Resistance solidifies at $2.66 level with support forming around $2.50.
- Heaviest selling pressure hits July 14, 14:00-03:00 UTC window as price cascades from $2.65 to $2.46.
- Volume patterns show elevated activity during decline phases, particularly July 15, between 02:00-03:00 UTC, with volumes topping 6.3 million.
- Two-phase movement pattern features initial consolidation followed by upward momentum starting 09:01 UTC.
- Institutional interest emerges at lower levels with volumes exceeding 71,000 at 09:19 UTC.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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Sizin için daha fazlası
Bitcoin Market Echoes Early 2022 as Onchain Stress Mounts: Glassnode
Rising bitcoin supply in loss, weakening spot demand and cautious derivatives positioning were among the issues raised by the data provider in its weekly newsletter.
Bilinmesi gerekenler:
- Glassnode's weekly newsletter shows multiple onchain metrics now resemble conditions seen at the start of the 2022 bear market, including elevated top buyer stress and a sharp rise in supply held at a loss.
- Off chain indicators show softening demand and fading risk appetite, with declining ETF flows and weakening spot volumes.
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