Trading activity propelled FIL up by 3.4% within a 24-hour window, settling at approximately $2.32.
The observed price fluctuated within a $0.15 band—a 6% span—stretching from a low of $2.23 to a peak of $2.38.
Resistant pressure took form at $2.38, where heavy volume triggered a notable sell-off during the day’s most active trading phase, as indicated by the analysis.
Meanwhile, the broader cryptocurrency landscape showed marginal movement, with the Coindesk 20 index inching upward by just 0.2%.
Market Movement Breakdown
- FIL’s price journey witnessed a climb from $2.25 to $2.32, marking a neat 3% uplift across the past 24 hours.
- The full trading band spanned $0.15, equivalent to 6%, between the lowest trough at $2.23 and the highest point at $2.38.
- Two separate surges emerged: an initial lift reaching $2.28, followed by a further advance on September 5.
Volume and Price Dynamics
- The peak price of $2.38 coincided with an extraordinary volume spike hitting 7.23 million, well above the daily average of 2.47 million.
- At $2.38, a key resistance level appeared, marked by high-volume rejection during the busiest trading moments.
- Support was firmly established around the $2.23-$2.24 range during early trading hours.
- In the last hour of trading, the price retraced from $2.36 to $2.32, contracting 2%.
- Volume surges of 425,701 units indicated strong selling pressure, likely from institutional participants.
- The final hour witnessed nearly double the session’s average institutional selling volume.
Contextual Snapshot
According to recent crypto market data, FIL’s average daily traded volume over the past week hovers around 3 million tokens, highlighting that recent spikes significantly outpace usual activity. This surge in volume often signals heightened interest from both retail and institutional traders, underscoring the asset’s volatility during this period.
Note: This article incorporates contributions generated via AI technology, which were subsequently reviewed and refined by our editorial team to maintain factual accuracy and editorial standards.
