Filecoin drops as bears test support

The storage token faced selling pressure at the $1.33 resistance level while institutions accumulated on the dips. What to know : FIL declined from $1.32 to $1.29 over 24 hours as a bearish channel pattern emerged. Trading volume was 180% above average during the rejection from $1.33 resistance. A sharp bounce from $1.28 support signals institutional buying interest at key levels.