Market Overview for Flamingo/Tether (FLMUSDT)

• FLMUSDT opened at $0.0331, hit a 24-hour high of $0.0353, and closed at $0.0344 in a bullish consolidation phase.
• Volatility surged in the morning as price broke above prior resistance with heavy volume.
• RSI edged into overbought territory, while MACD crossed above zero for bullish momentum.
• Bollinger Bands widened significantly in the late morning, reflecting increased market participation.
• Divergences in price and volume suggest uneven buying pressure, warranting caution ahead.

At 12:00 ET–1 on 2025-09-16, Flamingo/Tether (FLMUSDT) opened at $0.0331 and closed at $0.0344 by 12:00 ET on 2025-09-17. The 24-hour range extended from $0.0328 to $0.0353. Total volume reached 12,571,870.0 with a notional turnover of $398,892.03, signaling a notable increase in market activity. The price action reflected a gradual move higher, supported by a breakout in early morning hours.

Structure & Formations

Key support levels formed at $0.0328–$0.0330, with a stronger level at $0.0332 providing a short-term base. Resistance emerged at $0.0335–$0.0337 and then at $0.0340–$0.0345, with the 24-hour high at $0.0353 acting as a recent ceiling. A bullish engulfing pattern was observed around 09:30 ET as the price surged from $0.0338 to $0.0342. A doji formed at 11:15 ET around $0.0344, suggesting a potential pause in momentum.

Moving Averages

On the 15-minute chart, the 20SMA crossed above the 50SMA in a golden cross formation during the early morning, confirming the upward trend. Daily data shows the 50DMA currently above the 100DMA but approaching the 200DMA, indicating a potential retest of long-term support or a continuation of bullish momentum.

MACD & RSI

The MACD crossed above the signal line in early morning and remained in positive territory, confirming bullish momentum. RSI rose to overbought levels above 65 in the late morning and midday, suggesting a possible correction. However, price continued to push higher, indicating strong buying interest despite overbought readings.

Backtest Hypothesis

Given the bullish engulfing pattern and the golden cross of 20SMA and 50SMA, a backtesting strategy could be designed to enter long positions on a breakout of the 15-minute high following a doji or consolidation phase. A stop-loss could be placed below the 61.8% Fibonacci retracement of the recent bullish move. This aligns with the current RSI and MACD readings, suggesting a continuation pattern with defined risk parameters.