Filecoin Declines 7%, Breaking Below $1.43 Support

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Source: CryptoNewsNet Original Title: Filecoin Declines 7%, Breaking Below $1.43 Support Original Link: Filecoin FIL dropped 7.3% in the past 24 hours, falling from $1.48 to $1.38 as decentralized physical infrastructure tokens spearheaded a sector-wide liquidation.

The storage protocol established a clear downtrend with consecutive lower highs from its December 10 peak at $1.55. Technical analysis showed that trading volume exploded to 10.6 million tokens during the breakdown.

The selloff gained momentum after FIL failed to reclaim resistance at $1.52. Volume spiked 85% above average when price shattered the critical $1.43 support level.

Price stabilized only near session lows around $1.37, suggesting temporary exhaustion. DePIN tokens led broader crypto weakness while Bitcoin slipped below $91,000. The broader market gauge was 3.4% lower at the time of analysis. Capital rotated away from infrastructure plays as risk-off sentiment gripped digital asset markets.

BTC-0.16%
FIL0.74%
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