Filecoin (FILUSDT) Market Overview: 24-Hour Reversal After Sharp Sell-Off

• Filecoin (FILUSDT) broke key support levels during a late-night sell-off before rebounding into a bullish morning reversal.
• Momentum turned positive in early AM UTC, with RSI entering overbought territory and volume confirming the reversal.
• Volatility expanded overnight as price dropped to 2.172 before narrowing during consolidation in the final 6 hours.
• A 15-minute bullish engulfing pattern formed near 2.191, suggesting potential continuation to 2.235–2.254 Fibonacci levels.
• Notional turnover surged during the 20:15–20:45 UTC selloff but failed to push below 2.172, indicating short-term support.

Filecoin (FILUSDT) opened at 2.193 on 2025-08-26 at 12:00 ET-1, dropping as low as 2.172 during a sharp overnight selloff before closing at 2.273 by 12:00 ET. The 24-hour trading range was between 2.172 and 2.308, with a total volume of 4,303,835 FIL and a notional turnover of $9,518,697.

Structure & Formations

The price action formed a strong bullish reversal pattern overnight, with a 15-minute bullish engulfing candle at 2.191–2.206 suggesting a potential short-term reversal. A key support level appears to have held at 2.172, with the price bouncing back through the 2.193–2.225 range. A bearish breakdown attempt failed near 2.172, reinforcing this as a short-term floor. The 2.273–2.295 area appears to be a developing resistance cluster, where the price has tested multiple times during the morning session.

Moving Averages

On the 15-minute chart, the 20-period SMA crossed above the 50-period SMA in early morning UTC, forming a potential golden cross that confirmed a short-term bullish trend. For daily charts, the 50-period EMA has not yet crossed above the 100 and 200-period lines, indicating a continuation of the broader bearish trend over the last several days.

MACD & RSI

The RSI entered overbought territory (above 65) in the early morning UTC, following a rapid 10% rebound from the overnight lows. The MACD histogram showed a positive expansion during this period, aligning with the bullish reversal. However, the RSI has since pulled back, indicating that momentum may be subsiding. If the RSI drops below 50 without a corresponding price decline, it could signal a weakening bullish bias.

Bollinger Bands

Volatility expanded overnight as the selloff pushed price to the lower Bollinger Band (at 2.172), followed by a sharp contraction in the morning. Price has since risen above the middle Bollinger Band (2.256) and is currently approaching the upper band (2.297), suggesting a potential exhaustion of momentum. A sustained move above 2.295 would indicate a breakout in favor of bulls.

Volume & Turnover

Volume spiked during the overnight selloff, especially between 20:15 and 20:45 UTC, with a high of 1,192,616 FIL traded in a single 15-minute window. Notional turnover also increased sharply during this period, reaching a peak of $402,918. However, volume during the subsequent rebound was lower, which may suggest the reversal lacks sufficient follow-through. The volume profile during the morning recovery was more balanced, with moderate turnover supporting the rally.

Fibonacci Retracements

A 15-minute swing from 2.172 to 2.295 has been retraced to 2.273–2.280, placing the price near the 61.8% Fibonacci level. A move above 2.295 would align with the 78.6% Fibonacci extension and could target 2.325–2.335. If the price fails to hold above 2.273, a retest of the 2.253 (38.2%) and 2.238 (23.6%) levels becomes more likely.

FILUSDT appears to have formed a short-term bullish bias following the overnight selloff and morning rebound. The path of least resistance is upward, with the next key target at 2.295–2.303. However, a failure to maintain the 2.273 level could trigger a pullback toward 2.253–2.240. Investors should monitor volume and RSI divergence as signs of potential trend exhaustion.