Filecoin Price Breaks Above $1 as Volume Explodes

Filecoin's price broke above $1 for the first time since May, reaching as high as $1.03 before pulling back to around $0.97.

The surge in price was accompanied by a significant increase in trading volume, which skyrocketed by 1026% to $396.66 million.

However, the Relative Strength Index (RSI) stood at 78.05, indicating an overbought territory, and the resulting pullback may be due to early sellers locking in their profits.

The key level for the breakout is now $0.87, which previously blocked attempts to create a rally.