On November 10, 2025, Filecoin (FIL) shattered a long-term downward trend line, marking a structural reversal on the daily chart. The price skyrocketed by 53.1% within 24 hours to reach $3.36, driven by a substantial volume expansion that confirmed strong market participation. This breakout followed months of selling pressure, with buyers accumulating positions during consolidation around the $2.00 level. Key technical levels emerged, with support established at $2.05—formerly a resistance zone—and immediate resistance noted near $3.87, where price reactions were anticipated.
Just a day later, on November 11, 2025, the momentum reversed sharply as FIL faced a harsh sell-off. The price plunged 10% to trade at $2.34, triggered by a technical breakdown after losing critical support levels at $2.50 and $2.40. Trading volume exploded by 137% above the 24-hour average, surging to 21 million tokens and indicating institutional-sized sell orders that cascaded stop losses. The bearish outlook solidified, with the immediate downside target set at the psychological level of $2.30, while any recovery would require reclaiming the $2.40 resistance zone to regain bullish traction.
