Filecoin Dropped 5%, Decline Continues in the Crypto Market

Filecoin Sees All-Time Low

Filecoin (FIL) experienced a sharp decline of 5% on Monday amidst a general crash in the cryptocurrency markets. This drop reflected a broader weakness in the markets.

Increase in Trading Volume

During this decline affecting the market, the trading volume rose to 11.7 million units. This increase indicates that investors are opting to trade more actively in an uncertain environment.

Changes in Technical Indicators

Technical momentum has worsened, gaining speed in the downside direction and creating three consecutive lower lows. This situation stands out as an important development, prompting market participants to remain cautious.