Market Overview for Filecoin/Tether (FILUSDT) – 2025-09-16 12:00 ET to 2025-09-17 12:00 ET

• Price surged to 2.66 before consolidating near 2.53 after a 24-hour high.
• Volume spiked during the upward move but softened during the retracement.
• RSI signaled overbought conditions during the rally, hinting at potential pullback.
• A bullish engulfing pattern formed mid-session, followed by a bearish divergence in volume.
• Bollinger Bands widened during the upswing, indicating heightened volatility.

Filecoin/Tether (FILUSDT) opened at $2.45 on 2025-09-16 at 12:00 ET, surged to a high of $2.66, and closed the 24-hour period at $2.53 on 2025-09-17 at 12:00 ET. Total volume reached 11.2 million FIL, with notional turnover of $28.6 million.

The structure of the session was marked by a strong bullish impulse, forming a clear ascending triangle pattern as the price surged from the $2.45 base to the $2.66 peak. A key resistance level emerged around $2.595–2.607, where the price stalled before retreating. Support levels were identified at $2.54 and $2.50, with the latter failing to hold during the retracement phase. A bearish evening star pattern appeared around $2.596–2.607, signaling potential exhaustion in the upward move.

The 20-period and 50-period moving averages on the 15-minute chart diverged during the rally, with the 20 MA outpacing the 50 MA, indicating bullish momentum. On the daily chart, both the 50 and 200-day MAs were in bullish alignment, supporting the longer-term uptrend.

MACD crossed into positive territory early in the rally, confirming the bullish momentum, but began to flatten as the price approached the $2.60–2.63 resistance cluster, suggesting waning momentum. RSI hit overbought levels above 70 during the peak, warning of potential correction. Bollinger Bands expanded during the upswing and have since contracted, pointing to a potential consolidation phase ahead.

Backtest Hypothesis
A potential backtesting strategy could focus on using the bullish engulfing pattern formed around $2.503–2.536 as an entry trigger, with stops placed below the $2.483 level. Target levels could align with 61.8% and 38.2% Fibonacci retracements of the $2.45–2.66 swing, at $2.556 and $2.578 respectively. This approach would aim to capture retracement-based momentum within a defined trend structure, with volume confirmation and RSI divergence as key exit signals.