Flow/Tether (FLOWUSDT) 24-Hour Market Overview

• Price fell to 0.223 before stabilizing at 0.238.
• Volume spiked at 266,204 with moderate turnover.
• RSI indicated oversold conditions mid-session.
• Bollinger Bands showed tightening ahead of a breakout.
• A bullish reversal pattern formed late in the session.

Flow/Tether (FLOWUSDT) opened at 0.239 and traded between 0.223 and 0.239, closing at 0.238 at 12:00 ET. Total volume for the 24-hour window was 1,157,217.49, with a notional turnover of approximately 269,426.30. The price action suggests a potential reversal after a sharp decline.

Structure & Formations

Price traced a clear V-bottom pattern, with a low of 0.223, followed by a consolidation phase between 0.232 and 0.238. A bearish engulfing pattern at 0.232 was followed by a series of bullish reversal formations, including a hammer and a morning star pattern at the close. These suggest a potential short-term reversal may be forming.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart crossed into convergence, with the 20-period line crossing above the 50-period line late in the session. The price remains above both averages, indicating short-term bullish momentum. On the daily chart, the 50-period and 100-period moving averages remain in a downtrend, suggesting bearish bias over the medium term.

MACD & RSI

MACD turned positive in the final two hours of the session, with the signal line crossing up, indicating renewed buying momentum. The RSI touched 28 during the selloff, indicating oversold conditions, which may have triggered short-covering and a rebound.

Bollinger Bands

Price action showed a significant contraction in Bollinger Band width from 0.234 to 0.236, followed by a breakout to the upper band. This contraction suggests a period of consolidation ahead of a potential break higher. Currently, price is trading near the upper band, indicating a possible overbought zone.

Volume & Turnover

Volume surged at 0.232 (266,204) and again in the final hours of the session, suggesting accumulation. Notional turnover remained steady, with no significant divergence between price and turnover. The increased volume on the rebound suggests strong interest from buyers at these levels.

Fibonacci Retracements

Fibonacci levels show the 0.234–0.238 range corresponds to the 61.8% and 78.6% retracement levels of the recent 0.223–0.239 move. A break above 0.238 could aim for the 0.241 level, while a retest of 0.234 may find support.

Backtest Hypothesis

The backtest strategy leverages technical signals that align with the current price action and momentum shifts. The Bullish Engulfing and MACD Golden Cross signals used in the strategy are directly relevant to the reversal patterns observed in FLOWUSDT today. By combining these two high-probability signals, the strategy aims to capture entries at key turning points. The 5-day holding period would allow for capturing short-term momentum swings while minimizing exposure to longer-term volatility. Once the correct symbol is confirmed (e.g., "BINANCE:FLOWUSDT"), the backtest can proceed to evaluate performance metrics from 2022 to today.