Filecoin slides 5% alongside major decline in broader crypto market
TL;DR
Filecoin (FIL) dropped 5.1% to $1.24 after breaking critical technical support at $1.25, with trading volume surging 380% above average. The broader crypto market also declined sharply, with Bitcoin down 3.5%.
Key Takeaways
- •Filecoin broke through critical technical support at $1.25, dropping 5.1% to $1.24 with volume surging to 11.74 million tokens (380% above average).
- •Technical momentum accelerated downward with three consecutive lower lows confirming the breakdown, opening the door to deeper losses toward $1.23.
- •The high-volume breakdown suggests institutional selling pressure rather than retail selling, with resistance now cemented at the former $1.25 support level.
- •The broader crypto market fell sharply alongside FIL, with Bitcoin declining 3.5% and the CoinDesk 20 index down 4.4%.
- •Monday has been a consistent pressure point for Bitcoin this year, with several major local lows occurring on that day.
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What to know:
- FIL declined sharply as crypto markets fell across the board on Monday.
- Volume surged to 11.7 million during the decisive breakdown
- Technical momentum accelerated downward with three consecutive lower lows confirmed.
- FIL declined sharply as crypto markets fell across the board on Monday.
- Volume surged to 11.7 million during the decisive breakdown
- Technical momentum accelerated downward with three consecutive lower lows confirmed.
Filecoin FIL$1.2601 broke through critical technical support on Monday, with the token dropping 5.1% to $1.24 as a massive volume surge signaled institutional selling pressure, according to CoinDesk Research's technical analysis model.
The broader crypto market fell sharply as well, with bitcoin registering a 3.5% decline and the CoinDesk 20 4.4%.
Trading volume exploded to 11.74 million tokens, nearly 400% above normal levels, as bears overwhelmed buyers at the $1.25 support zone, according to the model.
The model showed that the selling accelerated in recent hours, with three consecutive lower lows confirming the technical structure collapse.
The breakdown opens the door to deeper losses toward $1.23, with resistance now cemented at $1.25 former support.
Technical Analysis:
- Primary resistance cemented at $1.35 following failed recovery attempts
- Critical support breach confirmed at $1.245
- Next major demand zone targets $1.23-1.235 range based on prior structure
- Ascending trend support failure opens door to deeper retracement levels
- Exceptional volume surge of 380% above average confirms breakdown validity
- High-volume breakdown suggests institutional participation rather than retail selling
- Key resistance for any relief rally: $1.25 former support level
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
- U.S. spot bitcoin and ether ETFs recorded the largest net outflows since Nov. 20.
- Monday has been a consistent pressure point for bitcoin this year, with several major local lows occurring on that day, and Velo data showing Monday as the third-worst performing day over the past 12 months.
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