It rose more than 4% to $1.65 on Tuesday afternoon, breaking key psychological resistance at $1.60, according to CoinDesk Research’s technical analysis models.
The model showed institutional accumulation with two major spikes above 140% of average volume.
According to the model, the storage token decisively broke the $1.60 resistance level after weeks of consolidation.
Price action displayed a textbook institutional buying pattern with higher lows of $1.52 and $1.55 confirming the uptrend structure.
In recent trading FIL was up 4.4% in 24 hours, at around $1.65.
The broader crypto market also rose, with the CoinDesk 20 index rising more than 3%.
technical analysis:
- Primary support closed at $1.52 and the $1.60 resistance was decisively broken; Next target $1.65 psychological level
- Exceptional surges of 140% and 162% above average confirmed institutional accumulation during key breakout phases
- Clean breakout from consolidation with higher lows establishing a clear uptrend structure above $1.60
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI Policy.