FLMUSDT Market Overview: Flamingo/Tether 24-Hour Summary (2025-10-06)

• Price opened at $0.0259, climbed to a high of $0.027 before consolidating to close at $0.0256 on 24-hour data.
• Volatility expanded midday, with price testing key levels before retracing on bearish momentum.
• Volume surged in the early session but declined in the last hours, suggesting weakening conviction.
• RSI signaled overbought conditions earlier, now shifting toward neutral territory with bearish divergence.
• A key support at $0.0256 is now tested, with potential to extend lower if break confirms bearish bias.

Overview and 24-Hour Context

At 12:00 ET on 2025-10-06, Flamingo/Tether (FLMUSDT) opened at $0.0259, reached a high of $0.027, fell to a low of $0.0253, and closed at $0.0256. Over the 24-hour window, total volume reached 11,824,976.0, with a notional turnover of approximately $311,626.8 (based on average price). The pair displayed a bearish bias in the late session, with key resistance levels at $0.0264–$0.0268 now acting as overhead pressure.

Structure & Key Price Levels

Price found significant resistance at $0.0268–$0.027, where volume spiked but failed to close above in the last bullish candle. A bearish engulfing pattern formed in the early morning hours (0500–0515 ET), signaling a potential shift in sentiment. On the downside, a strong support zone appears to be forming around $0.0255–$0.0257, evidenced by the multiple bounces and consolidating volume at that level. A breakdown below $0.0255 could trigger a deeper correction toward $0.0250–$0.0252 based on Fibonacci retracement levels from the $0.0253–$0.027 swing.

Technical Indicators: MACD, RSI, and Volatility

The 15-minute MACD crossed into bearish territory in the morning session, with the histogram shrinking slightly in the last 4 hours, suggesting a slowdown in downward momentum. The RSI moved from overbought at 75 to a neutral 52, indicating a potential pullback is in progress. Bollinger Bands widened around midday, suggesting increased volatility, but price has since consolidated within the bands, showing limited directional bias. This could indicate a period of indecision ahead of the next directional move.

Volume and Turnover Analysis

Volume spiked in the early session (16:00–20:00 ET), with a peak of 2.36 million at $0.0266–$0.0269, coinciding with the initial bullish breakout. However, turnover declined sharply in the last 6 hours, with price failing to make a convincing rebound from the $0.0259–$0.0262 range. A bearish divergence appears between price and volume, as price attempts to rally while volume contracts. This may indicate weakening bullish conviction and could support a further test of the $0.0255 support level.

Backtest Hypothesis

Given the bearish engulfing pattern and declining momentum, a short-term bearish strategy could target the $0.0253–$0.0255 zone as a potential short entry. A stop-loss above $0.0257 would align with recent resistance, while a target of $0.0250–$0.0252 corresponds to Fibonacci levels and previous support. This strategy would be most effective if confirmed by a break below $0.0256 with above-average volume. A countertrend long could also be considered near $0.0253–$0.0255 if a rebound is confirmed by strong volume and a bullish reversal candle.