Filecoin Market Overview: Volatility and Momentum in a Range-Bound Session

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• Filecoin traded in a 24-hour range between $2.273 and $2.358, closing near mid-range at $2.281.
• A large bearish candle at 22:30 ET and a bullish reversal at 00:15 ET suggest short-term indecision.
• RSI hovered near neutral levels, with no strong overbought or oversold signals.
• Volatility expanded in the early hours, with a $2.301–$2.256 range witnessing a $2.3M notional spike.
• Bollinger Bands showed a moderate contraction, indicating potential for a breakout or reversal.

Market Overview

Filecoin (FILUSDT) opened at $2.352 on 12:00 ET-1, reached a high of $2.366, and closed at $2.281 by 12:00 ET. The 24-hour volume was ~10.3 million FIL, with total turnover of approximately $23.5 million, showing active but mixed sentiment across the session.

Structure & Formations

The 15-minute chart displayed a bearish engulfing pattern at 22:30 ET after a sharp drop from $2.325 to $2.256, suggesting a short-term bearish bias. Later, a bullish reversal at 00:15 ET saw a close near the high of the candle, indicating a potential short-covering rally. A doji at 05:30 ET near $2.333 also highlighted indecision in a key price cluster.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed near $2.31–2.32, creating a potential support zone. The daily chart showed a bullish alignment of the 50- and 100-period MAs near $2.32, with the 200-period MA acting as a longer-term floor. Price closed below the 50-period MA, hinting at a possible continuation of the short-term bearish bias.

MACD & RSI

The MACD turned negative after 22:00 ET, with the histogram showing bearish divergence from the price action, especially after the large sell-off. The RSI remained in neutral territory between 45 and 55, with no clear overbought or oversold signals. This suggests the market is consolidating rather than trending strongly in either direction.

Bollinger Bands

Volatility expanded between 22:00 and 01:00 ET, with Bollinger Bands widening to a range of $0.06–0.07. Price closed near the lower band at $2.28, indicating potential for a bounce or a test of the $2.23–2.25 support level. A contraction in the latter half of the session suggests a possible consolidation phase ahead.

Volume & Turnover

Volume surged at 22:30 ET, with a $513,648.95 notional turnover in a $0.07 range, signaling a strong bearish push. A smaller but notable volume spike occurred at 06:30 ET, coinciding with a $182,165.11 turnover as price dropped to $2.301. Price and turnover moved in tandem during these periods, providing confirmation of key moves.

Fibonacci Retracements

Applying Fibonacci levels to the $2.256–2.366 swing, the 61.8% retracement level is at $2.297, where the price found temporary support before breaking lower. The 38.2% level at $2.329 acted as a minor resistance. On the daily chart, the $2.30–2.32 area aligns with the 38.2% retracement of a broader bullish trend, suggesting a possible consolidation phase.

Filecoin may continue to trade in a $2.25–2.35 range in the next 24 hours, with potential for a bounce from the $2.23–2.25 support or a breakdown if momentum continues to favor bears. Traders should remain cautious as volatility remains elevated and directional clarity is still lacking.