Filecoin (FIL) experienced a 0.3% decline to $1.48 over the past 24 hours, underperforming the broader cryptocurrency market, which saw a 2.2% rise according to the CoinDesk 20 index. Despite a surge in trading volume, which exceeded typical thresholds for significant price movements, FIL's price remained stable within a $0.11 range, approximately 7.5% of its value. Technical analysis indicates that while demand at the $1.48 support level has been confirmed, strong resistance has emerged near $1.59 following a volume spike on December 9. Trading activity increased by 50% above the 7-day average, suggesting institutional interest. The price has formed a descending channel between $1.58 and $1.49, with the next upside target at $1.49 and potential to reach $1.59, while downside risk remains limited by the validated support level.