Filecoin surges up to 9% as broader crypto markets rally

Filecoin (FIL) jumped as much as 9% in the past 24 hours, climbing from around $2.24 to a peak near $2.44 amid a broad crypto market upswing. The rally was backed by strong trading volume and growing investor interest ahead of blockchain events and wider risk-on sentiment.

📈 Price Action & Technical Setup

• FIL traded between $2.24 and $2.44 in a single session, reaching its highest point in recent weeks before entering consolidation above the $2.40 mark.
• High-volume activity—approximately 11 million FIL at the $2.30 level—helped reinforce support and signal sustained buying interest.
• After peaking, the token pulled back slightly to around $2.37–$2.42, forming a new resistance zone and suggesting healthy short-term consolidation .

🌐 Macro Momentum & Crypto-wide Upside

• Filecoin’s bounce mirrors gains across the crypto sector, with the CoinDesk 20 index rising about 3.9% as risk sentiment improved.
• This market environment—highlighted by Bitcoin breaking its own highs—is reviving appetite for mid-cap and utility tokens like FIL.

🎯 Upcoming Catalysts

• Networking event in Cannes: Filecoin is hosting an informal mixer on July 3rd coinciding with EthCC, which may boost media attention and developer engagement.
• Technical outlook: Key support remains near $2.30–$2.40; a breakout above the $2.44–$2.45 resistance band could set the stage for another leg higher.

📌 Key Takeaways