Filecoin Drops Over 10% as Selling Pressure Spikes and Key Support Breaks — Here Is What FIL Traders Need To Watch

• FIL crashed over 10% as volume surged 32% above average, signaling concentrated selling.
• Key support at $1.58 broke, turning into new resistance at $1.47, with capitulation at $1.46.
• Stabilization is possible, but losing $1.46 risks a drop toward $1.40 unless FIL reclaims $1.58.

Filecoin took a heavy hit over the last 24 hours, sliding more than 10% to around $1.46 and underperforming an already weak crypto market. FIL tumbled from $1.62 into a tight $0.16 trading range, showing nearly 11% intraday volatility according to CoinDesk Research’s technical model. The sell-off came fast, and it came with size — a clear sign that traders weren’t just trimming positions, but exiting aggressively.

High-Volume Breakdown Pushes FIL Into Capitulation

The model revealed that trading volume spiked 32.7% above its seven-day moving average, helping confirm that the move wasn’t a random dip but a wave of concentrated selling. Liquidations peaked at midnight UTC, with volume hitting roughly 20 million — more than four times the 24-hour simple moving average. That’s the kind of breakdown that usually leaves a mark on the chart. Once FIL lost the $1.58 support level, the market quickly carved out resistance near $1.47, pushing the token into a series of lower highs from the $1.6385 peak.

Exhaustion Appears, but Recovery Hinges on One Critical Level

Capitulation came in around $1.46, where heavy selling finally started to cool off. By the final trading hour, the model showed near-zero volume, a typical sign that sellers may have exhausted themselves — at least temporarily. Price action now suggests stabilization might form around the $1.46 zone, but bulls need to be careful. With resistance now sitting at $1.47, any slip under the current support could send FIL toward $1.40. On the upside, a meaningful recovery won’t begin unless FIL can reclaim the broken $1.58 support level and flip it back into strength.

FIL Lags as the Broader Market Pulls Back

The CoinDesk 20 index fell 7% during the same window, adding more macro pressure to FIL’s decline. But Filecoin clearly took the harsher blow, reacting more violently to the breakdown while most large-cap assets moved in a more controlled slide. Whether this stabilization holds or gives way to another leg down will depend heavily on how quickly buyers return — and whether the $1.58 level can be reclaimed before momentum fades further.

The post Filecoin Drops Over 10% as Selling Pressure Spikes and Key Support Breaks — Here Is What FIL Traders Need To Watch first appeared on BlockNews.