Market Overview for Flamingo/Tether (FLMUSDT) – September 24, 2025

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• FLMUSDT opened at $0.0288, reached a high of $0.0290, and closed at $0.0288 after a volatile 24-hour session.
• Price formed a bullish engulfing pattern around $0.0286–0.0288 but failed to hold above resistance.
• Momentum appears to be waning as RSI approaches overbought, while volume remains elevated.
• A key support area at $0.0284–0.0285 was tested multiple times, showing resilience but no clear breakout.

The Flamingo/Tether pair (FLMUSDT) traded between $0.0284 and $0.0290 over the past 24 hours, opening at $0.0288 and closing near the same level at $0.0288. The 15-minute OHLCV data shows a total traded volume of 11.1 million FLM and a notional turnover of approximately $308,000, reflecting significant liquidity and activity in the pair.

Structurally, FLMUSDT formed a bullish engulfing pattern in the $0.0286–0.0288 range, suggesting a potential short-term reversal, but buyers failed to hold above the upper boundary. A bearish doji appeared at $0.0285 during the early morning, indicating indecision. Key support is found at $0.0284–0.0285, where the price found multiple bounces. Resistance appears at $0.0288–0.0290, with failed attempts to hold above this range.

The 20-period and 50-period moving averages on the 15-minute chart are currently converging around $0.0286, with the 50-period slightly above the 20-period, indicating a possible slowdown in upward momentum. RSI is hovering near overbought territory (~65) after an earlier push to 70, suggesting a potential pullback. MACD has flattened, with the histogram declining in magnitude, indicating fading bullish momentum. Bollinger Bands show moderate volatility, with the closing price at $0.0288 sitting near the upper band, reinforcing the idea of a recent overextension.

Fibonacci retracement levels from the recent high of $0.0290 to the low of $0.0284 suggest key levels to watch: 61.8% at $0.0286 and 38.2% at $0.0287. These levels have already seen significant action and could define the near-term range. Volume increased significantly around $0.0284, with large volumes confirming the support test. Notional turnover also spiked during this consolidation phase, suggesting a possible accumulation or distribution event.

The described strategy involves entering long positions on bullish engulfing patterns confirmed by a close above the 20-period moving average and a RSI above 60, with a stop-loss below the previous swing low. This approach appears aligned with the 15-minute timeframe, as seen in the current FLMUSDT pattern. A backtest using this setup over the past 30 days would likely highlight the importance of filtering by volume confirmation and MACD alignment to avoid false signals. The recent bullish engulfing pattern at $0.0286–0.0288 could serve as a practical test case for this strategy, provided traders manage their risk carefully.