Filecoin on the decline: Bears testing the support level.

Filecoin (FIL) has declined from $1.32 to $1.29 in the last 24 hours, indicating the emergence of a downward channel formation. During this process, the trading volume was more than %180 above the average.

Additionally, a sharp bounce from the $1.28 support level signals that there is institutional buying interest at critical levels.