Filecoin slipped 0.2% to $1.37 over the past 24 hours, lagging gains across the broader crypto market.

At the time of publication, the CoinDesk 20 index was up 3%, highlighting FIL’s relative underperformance.

Despite the muted price action, trading activity in Filecoin rose sharply, climbing 29% above its seven-day average, according to CoinDesk Research’s technical analysis model. The increase in volume pointed to heightened institutional participation, with buyers stepping in around key technical levels.

Filecoin reached an intraday high of $1.397 before selling pressure intensified in the final hour of the session, the model showed. That move helped define new near-term resistance around $1.40, while support has emerged near $1.36.

Technical indicators showed resistance forming at the $1.40 session high, with trading volume peaking at 5.9 million tokens during the 21:00 hour on Dec. 11 — roughly 68% above the 24-hour average. Distribution pressure during the final hour generated more than 642,000 tokens in volume as prices pulled back.

Higher intraday lows at $1.3577 and $1.3661 suggested underlying accumulation despite broader sector headwinds. On the upside, immediate resistance sits near $1.3975 and the $1.40 psychological level, while downside risk extends toward the $1.39 session open, with a major support zone beginning near $1.36, the previous consolidation low.