FIL rebounds from $2.10 demand area, eyes $2.60 resistance amid broader crypto recovery
Filecoin (FIL) posted a notable recovery on October 3, gaining more than 4% in the last 24 hours as it rebounded from its critical support zone. The move comes in line with a wider cryptocurrency market rally, lifting altcoins after days of subdued trading.
The daily chart shows that FIL found strong buying interest near the $2.10–$2.20 support zone, marked by high-volume demand in recent sessions. This region has repeatedly acted as a major floor for buyers, preventing further downside.
Following the bounce, FIL climbed to $2.32, attempting to build momentum toward the first key resistance at $2.55–$2.60. A successful breakout above this level could open the door to higher targets near the $2.90–$3.00 resistance zone, where sellers have previously stepped in.
BITX Market analysts highlight that the rebound aligns with positive sentiment in the broader market. , “Filecoin’s reaction at support is a healthy sign. As long as the token holds above $2.20, short-term momentum favors the upside.”
Key support and resistance levels
- Immediate support: $2.10–$2.20
- Upside targets: $2.55–$2.60, followed by $2.90–$3.00
- Critical demand zone: $2.00 psychological level
The recent 4% rebound shows that buyers remain active in defending lower levels, keeping the broader structure stable. If bulls manage to break through the $2.60 resistance, momentum could accelerate, pushing FIL closer to the $3 mark.
However, failure to hold above $2.20 support would likely invite fresh selling pressure, potentially retesting the $2.00 zone. For now, sentiment remains cautiously bullish as Filecoin tracks the broader market’s recovery trend.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.