Filecoin is on the decline: Bears are testing the support level.

Filecoin (FIL) has decreased 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 has been over 180% of the average.

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