FILE token found a floor at $0.91 over the past 24 hours, a level traders have watched closely since last month's sell-off. The bounce comes as whale wallets increase their long exposure to 70%, even as retail traders dump positions in a panic.
Why the $0.91 level matters
The $0.91 support zone has held twice before during the current cycle. Each time it broke, the token dropped another 8–12% before finding a bottom. This time, trading volume spiked as the price touched that line, suggesting buyers stepped in aggressively. On-chain data from multiple explorers shows accumulation wallets added roughly 2.3 million FILE tokens at that price point within a two-hour window.
Whale positioning tells a story
Wallets holding at least 1% of the circulating supply are now 70% long, according to wallet analytics tracked by GFdaily. That ratio is the highest since early February, when FILE rallied 18% over five days. The whale cohort has been adding to longs steadily over the past week, even as retail traders sold into the dip. The divergence between whale and retail positioning is stark: retail addresses are net short by a 3-to-1 margin, based on exchange flow data.
What it would take to hit $1.20
The immediate target is a break above $1.01, a resistance level that has capped rallies four times in the past three weeks. If buyers can push past that, analysts on-chain models project a 30% move to the $1.20 zone. That would put FILE back to levels not seen since mid-March. The path is narrow: a rejection at $1.01 could send the price back to test $0.91 again, and a break below that support would likely trigger stop-losses from the large long positions.
The next few sessions will determine whether the whale accumulation can overpower the retail selling. No official statements from the FILE foundation have been made, and the token's development roadmap has not changed. For now, the market awaits a decisive move above $1.01.
