Summary
- Filecoin surged 60%% in 24 hours, surpassing the 2 dollars breakthrough resistance level.
- This Filecoin rise appeared alongside an 11%% increase across the DePIN (DePIN) sector, while Bitcoin and major cryptocurrencies were weak.
- Experts said this rally showed that the decentralized infrastructure sector is forming independent momentum within the market.
The decentralized storage token Filecoin (FIL) broke through a major resistance level and surged 60% in a day. The DePIN (DePIN·decentralized physical infrastructure network) sector has shown clear strength and taken the lead amid a mixed cryptocurrency market.
On the 7th (local time), according to CoinDesk Research's technical analysis model, Filecoin rose from 1.33 dollars the previous day to a high of 2.27 dollars, recording a 70% surge over 24 hours. Notably, starting at 0:00 (UTC) on the 7th, trading volume of 72,800,000 — 247% higher than the 24-hour simple moving average — occurred, strongly breaking through the key resistance at 1.93 dollars.
Subsequently, the price rose to 2.25 dollars and then settled above 2.00 dollars, maintaining the validity of the uptrend despite short-term corrective pressure.
The CoinDesk Research model assessed that "by closing trading sessions above 2 dollars, Filecoin confirmed the robustness of the medium-term uptrend."
This Filecoin rally occurred alongside an 11% rise across the DePIN (DePIN) sector. Meanwhile, Bitcoin and major cryptocurrencies were weak, and the CoinDesk20 index, which represents the broader market, was recorded down 1.8%.
Experts assessed that "this breakout of Filecoin is not a simple short-term rebound, but shows that the decentralized infrastructure sector is forming independent momentum within the market."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
