Filecoin (FIL) climbed 2% over the past 24 hours, advancing from $2.37 to a peak of $2.42, according to CoinDesk Research’s technical analysis. The token has established strong support at the $2.31 level.

The price breakthrough above the $2.37 resistance came amid heavy trading volume of 6,938,918 FIL, nearly three times the daily average, suggesting notable institutional participation and confirming bullish momentum toward the $2.42 peak. In recent trading, FIL was up 1.7%, around $2.415.

The broader crypto market also saw gains, with the CoinDesk 20 index rising 2%.

Technical Highlights:

• Strong support confirmed at $2.31
• Critical resistance broken at $2.37
• Heavy trading activity at 6,938,918 FIL, nearly three times the daily average
• New resistance zone forming at $2.43 with reduced volume toward session close