Market Overview for Filecoin/Tether USDt (FILUSDT)

• FIL/USDT rose from $2.43 to $2.49 in 24 hours amid growing bullish momentum and high volume spikes.
• A key resistance was cleared at $2.46, with strong buying pressure into the session high near $2.506.
• RSI and MACD confirm strength, while Bollinger Bands show increased volatility and price containment above the midline.
• Volume and turnover moved in sync with price, indicating solid conviction behind recent gains.
• A 20-period EMA supports the upward trend, and 38.2% and 61.8% Fib levels align with major support/resistance levels.

Filecoin/Tether USDt (FILUSDT) opened at $2.43 on 2025-09-09 12:00 ET, reached a high of $2.506, a low of $2.422, and closed at $2.493 on 2025-09-10 12:00 ET. Total volume was 3,684,285.21 FIL, with a notional turnover of $9,040,476 USD.

The past 24 hours saw a strong upward shift in sentiment, particularly following the price breaking above the $2.46 resistance level and consolidating above the 20-period EMA. The price action shows a clear continuation pattern with volume increasing in tandem with price. A bullish engulfing pattern formed between 07:30 and 07:45 ET, which confirmed the breakout. A notable doji appeared at 06:00 ET, indicating indecision before the rally took hold. These patterns suggest the market is testing and likely confirming a new short-term bullish bias.

MACD remains in positive territory, with a rising histogram and the MACD line crossing above the signal line. This supports an uptrend with growing momentum. The RSI is currently at 59, still in the neutral-to-bullish range, showing no signs of overbought conditions. Bollinger Bands have widened, reflecting increased volatility, and the price remains above the midline, reinforcing a bullish setup. The 20-period EMA sits at $2.467, offering current support and a dynamic floor for the trend.

Looking ahead, FIL/USDT may test the next major resistance at $2.51–$2.52, with a potential pullback toward the 38.2% Fibonacci retracement at $2.47 as a key near-term support. A break above $2.52 could trigger further gains toward $2.55, while a drop below $2.46 could invite short-term profit-taking. Traders should watch for divergence in the RSI and any sudden volume contraction as early warning signs of a potential reversal.

Backtest Hypothesis

The backtesting strategy involves entering long positions when the 20-period EMA crosses above the 50-period EMA (Golden Cross), with a stop-loss placed just below the recent 15-minute swing low. Exit signals are triggered when the RSI enters overbought territory (RSI > 70) or when the 20-period EMA begins to flatten or cross below the 50-period EMA (Death Cross). This strategy aligns with the current bullish momentum, as the EMA crossover is already in place, and the RSI has yet to show overbought conditions. Given the strong volume confirmation, this setup could offer a high-probability trade into the next resistance level.