Filecoin's Big Jump: What's Driving the Crypto's Sudden Rise?

Filecoin (FIL) has been on a wild ride, jumping over 70% in just one day. This surge took it from $1. 33 to $2. 27, making it a standout in the crypto world. The climb happened in three clear stages: building up, breaking out, and then settling down above the $2 mark. The biggest jump happened around midnight on November 7th. A huge wave of trading, with 72. 8 million tokens changing hands, pushed the price past a key resistance point at $1. 93. The price shot up to $2. 25 before calming down a bit, but it stayed strong above $2. 00. This isn't just a one-off event. Filecoin's rise is part of a bigger trend in the decentralized physical infrastructure (DePIN) sector, which saw an 11% boost. Meanwhile, other major cryptocurrencies were having a mixed day, with the CoinDesk 20 index even dipping by 1. 8%. Looking at the technical side, Filecoin has strong support above $2. 15 and faces resistance at its previous high of $2. 25. The trading volume spiked during the breakout, showing that big players were involved. Despite some ups and downs, the overall trend looks bullish, with strong support above $2. 00.