After a substantial 56% increase, FILE experienced a sharp 14% decline, indicating shifting investor sentiment. The total value locked in Filecoin diminished, prompting a rotation towards stable assets as on-chain investors offloaded $5.5 million worth of FIL.
Despite bearish signals, exchanges like Binance and OKX show bullish tendencies with ongoing leveraged positions. Key levels of $2.4 and $3.6 will be crucial in determining whether FIL stabilizes or begins to recover in the near future.
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