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Filecoin (FIL) Price Drops After Falling Through Key Support Levels

Filecoin (FIL) has experienced a significant price drop of 10%, falling from $2.61 to $2.34 in just 24 hours. This decline occurred as FIL broke through critical support levels at $2.50 and $2.40, with trading volumes surging to 21 million tokens—137% above the average of 8.9 million. This technical breakdown was characterized by severe selling pressure, leading to a series of lower highs and confirming a bearish momentum structure. The previous low of $2.35 now serves as primary support, while the levels that breached—$2.40 and $2.50—have become overhead resistance. Analysts outline a potential immediate downside target of $2.30, whereas a recovery would require regaining the broken support zone of $2.40.

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