Summary
- CoinDesk reported that Filecoin (FIL) is trading at $1.26 after falling below the $1.30 support.
- CoinDesk said that during this decline trading volume surged, suggesting institutional participation.
- CoinDesk analyzed that a bearish trend may persist until $1.30 is regained.
Filecoin (FIL) fell below the $1.30 support level amid a broader downturn in the cryptocurrency market, with trading volume surging.
On the 16th (Korean time), according to crypto-focused media CoinDesk, Filecoin was trading at $1.26 at 10:45 p.m., down 4.9% from the previous day.
Regarding this, CoinDesk said, "During this decline trading volume increased significantly, but Filecoin broke the psychological $1.30 support level," adding, "It appears a short-term downtrend has formed amid volatility."
CoinDesk added, "The large trading volume during the drop suggests institutional participation," adding, "Although a quick rebound after the crash shows buying demand at lower prices exists, the bearish trend may persist until $1.30 is recovered."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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