Market Overview for Flamingo/Tether (FLMUSDT) as of 2025-09-20

• Flamingo/Tether (FLMUSDT) traded in a tight range for most of the session before a late rally lifted the close by 0.32%.
• Price tested key support at 0.0315 and broke through resistance at 0.032 in the final hours of the session.
• Volatility increased significantly after 14:00 ET as the pair expanded its range from 0.0315 to 0.0327.
• RSI moved into overbought territory at the end of the session, suggesting short-term momentum may be exhausting.
• Notional turnover surged past $12.5 million, indicating growing interest and potential for further price movement.

The Flamingo/Tether (FLMUSDT) pair opened at 0.0318 on 2025-09-19 at 12:00 ET, traded as high as 0.0327, as low as 0.0311, and closed at 0.0323 at 12:00 ET on 2025-09-20. The 24-hour volume reached 8.05 million FLM, while the notional turnover totaled approximately $253,475. Price action showed a clear shift in sentiment late in the session, particularly from 14:00 ET onward when buying pressure intensified and led to a decisive breakout.

Structural analysis reveals two strong support levels: 0.0315 (tested multiple times) and 0.0313, with 0.032 acting as a key psychological resistance. A bullish engulfing pattern formed between 06:15 and 06:30 ET, followed by a higher high and close, suggesting a reversal of prior bearish momentum. A doji formed at 22:00 ET on the 19th, indicating indecision before the final leg of the rally. On the 15-minute chart, the 20- and 50-period moving averages crossed into a bullish alignment late in the session.

The RSI crossed into overbought territory (above 65) at the close, signaling that short-term momentum may be due for a pullback. MACD showed a narrowing histogram and a positive crossover just before the breakout, reinforcing bullish bias. Volatility spiked as the Bollinger Bands widened in the final four hours, with price closing near the upper band. This suggests increased market participation and a possible continuation of the upward move if the upper band holds.

Fibonacci retracement levels applied to the recent 15-minute swing from 0.0311 to 0.0327 show 0.0323 aligning with the 61.8% level, suggesting a possible short-term consolidation zone. On the daily chart, the 50-period MA (0.0321) now sits just below the current price, and the 200-period MA (0.0319) is providing a dynamic floor. A sustained close above 0.0323 could target 0.0328–0.0332, while a retest of 0.0315 may offer a low-risk entry for longs.

The volume profile shows a clear increase in buying interest after 14:00 ET, with a sharp spike in notional turnover during the breakout phase. A divergence between price and volume is not observed, indicating that the move higher is broadly supported by market participation. A continuation of this trend is more likely if volume sustains above 1 million FLM per hour and price stays above the 0.0323 level.

Backtest Hypothesis
The described backtesting strategy focuses on identifying bullish engulfing patterns that form after a defined downtrend and confirm with a close above the engulfing candle's high. This aligns with the 06:15–06:30 ET candle, which acted as a reversal signal. A backtest would involve entering a long position on the close above 0.0319 with a stop-loss below the engulfing pattern's low (0.0317) and a take-profit at 0.0323 (the 61.8% retracement level). Given the current RSI divergence and volume confirmation, this setup appears to be a valid high-probability trade, though caution is warranted due to the overbought condition.