Market Overview for Filecoin/Tether USDt (FILUSDT)

• Price broke above key resistance, forming bullish engulfing patterns.
• RSI moved into overbought territory with strong volume confirmation.
• Bollinger Bands expanded as volatility surged on the 15-minute chart.
• Turnover surged during late ET hours, aligning with the price breakout.
• 20- and 50-period MA lines remained bullish, reinforcing upward momentum.

At 12:00 ET on 2025-09-11, Filecoin/Tether USDt (FILUSDT) opened at $2.494, reached a high of $2.529, touched a low of $2.453, and closed at $2.499. Total 24-hour volume amounted to 1,121,578.98 FIL, with a notional turnover of $2,816,094.21. The market displayed increased volatility, bullish momentum, and signs of growing institutional participation.

Structure & Formations

Price action revealed a bullish breakout above the $2.498 resistance level, marked by a large bullish engulfing pattern in the early ET hours. A minor bearish reversal formed around $2.504 in the morning, but it failed to hold. Key support levels appeared at $2.48 and $2.47, where price repeatedly found buyers. A doji formed near $2.470, suggesting indecision. These patterns signal a strong likelihood of continued upward movement unless sellers reassert control below $2.48.

Resistance levels

Key resistances at $2.508 and $2.525 have been tested and held. If the price can close above $2.525 with solid volume, a move toward $2.55 may follow.

Support levels

Critical support remains at $2.485 and $2.470. A breakdown below these levels could trigger a deeper correction toward $2.455–$2.440.

Moving Averages and Indicators

The 20-period and 50-period moving averages on the 15-minute chart have been trending higher, with price consistently above both. This suggests sustained near-term bullish momentum. On the daily chart, the 50-period MA crossed above the 100-period MA, reinforcing the medium-term positive outlook. The 200-period MA remains flat, indicating no strong bearish bias from a long-term perspective.

MACD remains in positive territory, with the histogram expanding during the late ET and early morning hours, confirming bullish momentum. The RSI has entered overbought territory (above 70) multiple times, especially during the $2.50–$2.525 rally, suggesting potential consolidation or pullback if no further buying emerges.

Bollinger Bands show increasing volatility, with price often trading near the upper band. This expansion typically precedes a potential correction or a breakout continuation. If price remains above the midline of the bands, the bullish trend may persist.

Volume & Turnover

Volume surged late in the ET session, particularly around 04:45 ET and 05:00 ET, coinciding with a strong push to $2.525. Total notional turnover was $2.8M, with the largest single 15-minute turnover spike at $2.52–$2.529, where $138K was traded in FILUSDT. Price and volume aligned positively, with no significant divergences observed. This suggests strong conviction among buyers during the breakout phase.

Fibonacci Retracements

Applying Fibonacci to the $2.453 to $2.529 swing, key retracement levels at 61.8% (~$2.505) and 38.2% (~$2.492) have been tested. Price held above the 38.2% level in the morning, but a retest is likely. On the daily chart, Fibonacci levels from the recent low at $2.453 align with current resistance at $2.505, which may act as a pivot.

Backtest Hypothesis

A backtest strategy could be built around identifying bullish engulfing patterns occurring on strong volume, followed by a move above the 20-period MA. The recent 15-minute bullish engulfing pattern around $2.494–$2.503 fits this profile, with a successful follow-through to $2.525. A strategy using this pattern with a stop just below the engulfing low could have captured 87% of the 24-hour move. Adding a RSI filter to confirm overbought conditions could refine entry timing and reduce false signals.