Market Overview for Filecoin/Tether (FILUSDT) on 2025-12-31

Summary
• Price formed a bearish engulfing pattern near 1.336, followed by a sharp decline below key support at 1.32.
• RSI dipped below 30, suggesting oversold conditions, though volume failed to confirm strength.
• Volatility expanded dramatically in the final 1.5 hours as price dropped 2.8% amid surging turnover.
• 20-period moving average on the 5-minute chart turned downward, aligning with bearish momentum.
• 1.32–1.324 consolidation appears as a potential short-term support zone following the selloff.

Filecoin/Tether (FILUSDT) opened at 1.32 on 12:00 ET−1, reached a high of 1.338, and closed at 1.282 by 12:00 ET. The pair traded between 1.268 and 1.338, with total volume of 3,647,252.49 and notional turnover of 4,451,037.60 USD over 24 hours.

Structure & Formations

A bearish engulfing pattern formed on the 5-minute chart around 18:00 ET as price gapped up to 1.336 before reversing lower. This was followed by a decisive breakdown below the 1.32 pivot level. A large bearish candle at 16:45 ET marked the start of a significant selloff, closing at 1.287 and forming a potential support zone between 1.31 and 1.32. No significant bullish reversal patterns emerged during the session.

Moving Averages

Short-term momentum turned bearish as the 20-period 5-minute MA crossed below the 50-period line, confirming downward pressure. On the daily chart, the 50-period MA at 1.334 acted as a resistance level that failed to hold, suggesting further consolidation or testing of the 1.31–1.325 range is likely.

MACD & RSI

MACD turned negative at 18:00 ET, confirming bearish momentum with a wide histogram divergence. RSI dropped to 28 by 16:45 ET, signaling oversold conditions. However, divergence in volume during this dip suggested limited buying interest, which could prolong consolidation.

Bollinger Bands

Volatility expanded significantly during the selloff, with the 20-period BB width nearly doubling. Price fell below the lower band at 1.287, a rare move indicating heightened bearish sentiment. The bands are now wide, suggesting a potential tightening phase—possibly a period of consolidation—before the next directional move.

Volume & Turnover

Volume surged during the selloff, particularly in the 16:45–17:00 ET period, where a single candle accounted for over 850,809.51 in volume. Turnover spiked to 1,093,453.05 USD during this session, suggesting significant institutional or retail selling pressure. However, the lack of follow-through buying after the drop points to weak conviction on the upside.

Fibonacci Retracements

The selloff from 1.338 to 1.287 aligns with a 38.2% Fibonacci retracement at 1.321 and a 61.8% level near 1.302. The 1.32–1.324 range appears as a potential near-term support cluster, with a break below 1.315 risking a test of the 1.302 level.

FILUSDT may find temporary support between 1.31 and 1.325 in the next 24 hours as traders digest the recent bearish move. A breakout above 1.33 could signal renewed bullish momentum, but until then, a defensive stance with stop losses below 1.282 is advisable.