Filecoin Soars 70% After Breaking Through $2 as DePIN Sector Rallies

by

Markets

What to know:

  • FIL jumped a whopping 70% after crashing through critical resistance levels. Who saw that coming?
  • The DePIN sector was the rock star, outperforming the crypto world like a champion.

Well folks, hold onto your hats! Filecoin just pulled off one of those jaw-dropping moves that’ll make you question your life choices. In a single 24-hour period, it blasted from $1.33 to $2.27, leaving a trail of dust and skeptics behind it. CoinDesk Research says it was the kind of rally that gets a token crowned as a sector leader. Quite the title, huh?

The 70% surge happened within a mere $0.95 range, with FIL gracefully waltzing through three phases-accumulation, breakout, and consolidation-like it was in a cryptocurrency ballet. And guess what? It wasn’t just a random fluke. No sir, this was calculated technical wizardry. 👀

The magic truly happened on Nov. 7 at the stroke of midnight UTC, when a massive 72.8 million tokens flew off the shelves-247% higher than usual-and sent prices skyrocketing through resistance at $1.93. The surge hit its peak at $2.25 before gracefully settling into a cozy consolidation above $2.00. Talk about resilience! But hey, a tiny dip at the end of the day didn’t kill the party.

And if you think that was impressive, wait for this: FIL wasn’t the only one showing off. The DePIN sector, that dazzling world of decentralized physical infrastructure, jumped 11%, while the major cryptos were… well, let’s just say they were mixed up like a salad. 🥗

Meanwhile, the broader crypto market was doing its best impression of a sad trombone. The CoinDesk 20 index, the so-called ‘broad market gauge,’ dipped 1.8% at publication time. So yeah, FIL was pretty much on a solo mission to greatness while everyone else napped.

Technical Analysis:
  • Primary support set above $2.15. That’s the new psychological floor, folks. So hold on tight!
  • Resistance is eyeing that previous high of $2.25. Someone’s got to break it, right?
  • Volume spikes above 1 million tokens during breakout phases? Yep, that confirmed institutional participation. Big players were in on this.
  • Three-phase uptrend: accumulation at $1.34-1.38, breakout to $1.95, and then a final surge to establish a fresh range. Smooth sailing, if you ask me.
  • Hourly momentum remained bullish, despite some lovely volatility above 15%. But hey, that $2.00 level held firm-so uptrend? More like up-the-ladder trend!

Read More

2025-11-07 14:00