Market Overview: FLOKI/Tether (FLOKIUSDT) 24-Hour Action

• Price surged 57% from $0.0000958 to $0.0001028 amid strong volume and momentum.
• RSI crossed into overbought territory, indicating potential consolidation or correction.
• Bollinger Bands showed a volatility expansion, with price near upper band.
• Volume spiked during the rally but diverged from price in the final hours.
• Key resistance at $0.0001028 tested; next support likely at $0.0001015.

FLOKI/Tether (FLOKIUSDT) opened at $0.0000958 on 2025-09-17 at 12:00 ET and closed at $0.0001008 by 12:00 ET on 2025-09-18. The 24-hour high was $0.00010299, and the low was $0.00009539. Total volume was 101,321,347,628.0, while turnover amounted to 10,225,040.87 USDT, indicating heightened market participation.

Structure & Formations

Price advanced in a strong bullish trend, forming a series of higher highs and higher lows. Notable formations included a bullish engulfing pattern between 19:30 and 20:45 ET, signaling a shift in momentum. A key resistance level formed around $0.0001028 (tested at 03:15 and 03:30 ET), while immediate support emerged at $0.0001015, where a bearish doji appeared during the early morning. The $0.0001008 level appears to be a consolidation point.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages (MAs) were in a bullish alignment, with price staying above both. The 50-period MA crossed above the 20-period MA at the end of the rally, confirming the uptrend. On the daily chart, the 50-period MA was below the 100 and 200-period MAs, but the price remained above all three, suggesting a continuation of the bullish momentum.

MACD & RSI

The 12-period MACD line crossed above the signal line during the early hours of the rally and remained in positive territory. The histogram showed expanding bullish momentum until 05:00 ET, after which it began to contract, indicating a possible slowdown. RSI surged above 70 during the price peak at $0.00010299, entering overbought territory. A potential correction or consolidation phase may follow as RSI remains near 68 at the time of close.

Bollinger Bands

Bollinger Bands widened as volatility increased during the rally, with price reaching the upper band at $0.00010299. This suggests heightened market participation and potential exhaustion. Price closed near the upper band, and a retrace to the mid-band or lower may follow unless bulls regain control.

Volume & Turnover

Volume spiked significantly during the rally, especially between 19:30 and 23:45 ET, confirming the upward move. However, in the final hours, volume declined slightly while price remained elevated, indicating a potential divergence. Turnover peaked at $0.00010299, but the amount of USDT traded during the final push was only 5.8% of the total 24-hour turnover, suggesting a lack of follow-through.

Fibonacci Retracements

Applying Fibonacci to the most recent swing from $0.00009539 to $0.00010299, key levels include 38.2% at $0.0000986 and 61.8% at $0.0001005. Price held above the 61.8% level and closed near it, suggesting a potential continuation or consolidation phase. On the daily chart, retracement levels from the prior week indicated key support at $0.0000973, which held well during the session.

Backtest Hypothesis

The backtest strategy hinges on using RSI and volume divergence as a trigger for a short-term countertrend trade after a strong rally. If RSI remains above 60 for more than two hours and volume declines despite higher prices, it may signal a short-term top. A short entry could be placed at the break of the 61.8% Fibonacci level or at the close of a bearish reversal pattern. Stop-loss levels can be set just above the prior consolidation highs, and targets can be aligned with the 38.2% and 50% retracement levels. This strategy would be most effective in a volatile market like FLOKI/Tether, where overbought RSI readings and volume divergence are common signals of a near-term correction.