Flamingo/Tether Market Overview

• FLMUSDT rose from 0.0238 to 0.0261 over 24 hours, marking a strong bullish bias.
• Price formed key bullish patterns like hammer and bullish engulfing in the morning.
• RSI and MACD suggest building momentum with no immediate signs of overbought conditions.
• Volatility expanded during the NY session, with volume peaking near 0.0259.
• A key resistance cluster formed at 0.0258–0.0261, with Fibonacci levels confirming this area.

FLMUSDT opened at 0.0238 on 2025-09-30 12:00 ET and closed at 0.0258 on 2025-10-01 12:00 ET, reaching a high of 0.0261 and a low of 0.0238. The total 24-hour volume was approximately 7.65 million, with a turnover of ~$191,250. Price action showed a consistent rise after a morning consolidation phase, with strong buying pressure into the afternoon.

Structure & Formations

The 24-hour period showed a bullish breakout from a descending triangle pattern in the morning, confirmed by a bullish engulfing candle at 0.0251–0.0252. A key support level at 0.0248–0.0249 held through the afternoon, with a hammer forming near that range as well. Toward the end of the session, a 15-minute doji at 0.0258–0.0259 suggested a possible short-term pause in the upward momentum. The price action suggests a consolidation phase may be forming above 0.0258, with resistance likely at 0.0260–0.0262 and support near 0.0254–0.0256.

Moving Averages

On the 15-minute chart, FLMUSDT closed above its 20SMA and 50SMA, with the 20SMA rising sharply in the afternoon. On the daily chart, the price remains above its 50DMA and 100DMA, with the 200DMA acting as a key support level at around 0.0240. This suggests a medium-term bullish trend with the 50DMA providing a dynamic support.

MACD & RSI

The MACD turned bullish after 09:00 ET, with a histogram divergence showing increasing buying pressure. The RSI crossed above 50 and remained in the 55–62 range for most of the session, suggesting moderate momentum without overbought conditions. A potential overbought warning may arise if the RSI moves above 65 in the next 24 hours.

Bollinger Bands

Volatility expanded after 09:00 ET, with the Bollinger Band width increasing. FLMUSDT spent most of the session in the upper half of the band, peaking at the upper band at 0.0261. A contraction phase may be forming at the end of the session, with a potential setup for a breakout or a pullback into the band’s middle.

Volume & Turnover

Volume spiked sharply during the New York session, particularly around 0.0258, where the price consolidated. Turnover also surged, with notional value peaking near 0.0260. Price and turnover were well aligned, suggesting genuine bullish conviction. A divergence may form if volume declines ahead of price, especially if the next move breaks the 0.0254–0.0256 support zone.

Fibonacci Retracements

Applying Fibonacci to the recent swing from 0.0248 to 0.0261, key levels at 0.0254 (38.2%), 0.0258 (61.8%), and 0.0262 (extension) are in focus. The 61.8% level has been tested twice in the last 3 hours and held. A breakdown below 0.0254 may trigger a correction toward 0.0248–0.0250.

Backtest Hypothesis

The backtest strategy described involves entering long positions when the price breaks above the 20SMA on the 15-minute chart and the RSI remains above 50 for three consecutive intervals, with a stop-loss at the previous swing low. This setup was triggered at 0.0251 and proved effective in capturing the 0.0251–0.0261 move. A refinement could involve tightening the stop to the Fibonacci 61.8% level for a more aggressive risk-reward profile.