Filecoin rose around 2% after breaking the $1.63 resistance, in a session marked by the heaviest trading volume in three days that suggested initial technical momentum but left contradictory signals. The move activated key decision zones that, according to technical analysts, will determine whether the rise consolidates or is exposed as a false breakout.
The initial break of resistance was accompanied by notable volume, which led some observers to consider the move significant; however, the market quickly entered a dispute range with multiple supports and resistances. Support levels cited by analysts include $1,39 and $1,47, and a band identified as a “decision zone” extends between $1,80 and $2,10. A complementary technical analysis marked a critical Fibonacci zone between $1,968 and $2,155 that many described as the main battleground for price direction.
Nearby resistances mentioned by various writers range over $2,60, $2,65, $2,93 and $3,27, while more ambitious projections reached up to $4,04, $4,875, $6,07 and $7,88. Among optimistic voices, projections of a sustained advance were highlighted based on network fundamentals and quarterly storage demand; among the more cautious, it was warned that sellers retain the advantage until there are clear technical confirmations.
In the words of one analyst: “Sellers remain in control”, a warning about the persistence of selling pressure until additional confirmations occur.
Technical breakdown and market positions on Filecoin
The indicators analysis offered mixed signals. The Relative Strength Index (RSI) of 14 days was cited around 90,56 for Filecoin, a figure that suggests overbought conditions; other readings, however, interpreted recent rebounds from oversold zones. Brief definition: the RSI is an oscillator that measures the speed and change of price movements to detect overbought or oversold conditions.
On moving averages, several traders noted incipient bullish crossovers: a possible formation of a Golden Cross was described with the short EMA crossing above the long EMA, a signal that is usually associated with an uptrend.
Attention was also drawn to the presence of patterns such as a descending channel and a breakout from a parallel channel, structures that typically point to greater risk of pullbacks. The risk of a false breakout was emphatically highlighted by technical analysts: some labeled it a “Wick Rejection” or an upside liquidity grab. Brief definition: a false breakout occurs when the price briefly exceeds a key level but does not sustain momentum and retreats, trapping momentary buyers.
The 2% advance after breaking $1.63 evidenced buyer interest and high volatility, but left the price in a testing phase: confirmation of the trend will require the clear establishment of support above the critical area around $1,97 and, for a multi‑week push, sustained closes above $2,65.
