Market Overview: FLOKI/Tether (FLOKIUSDT) Daily Review

Summary
• Price tested key support near $0.0000403 after forming a bearish engulfing pattern.
• Volatility expanded following a sharp retracement to 61.8% Fibonacci level on the 5-min chart.
• Notional turnover surged on late-night breakouts, suggesting active participation.
• RSI moved into oversold territory, hinting at potential short-term bounce.
• Bollinger Bands narrowed earlier, preceding a breakout to the downside.

FLOKI/Tether (FLOKIUSDT) opened at $0.00004082 on 2025-12-28 12:00 ET, hit a high of $0.00004138, fell to a low of $0.00003967, and closed at $0.00003970 as of 2025-12-29 12:00 ET. The total 24-hour volume was 12.18 billion USD, with a turnover of 498,162.63 USD.

Structure & Formations

Price action displayed a bearish engulfing pattern in early hours, confirming a shift in momentum. A key support level at $0.0000403 was tested before the asset broke down further. A 61.8% Fibonacci retracement level on a 5-min swing provided temporary resistance during a brief bounce.

Moving Averages

On the 5-minute chart, price closed below both 20 and 50 EMA lines, reinforcing bearish bias. Daily 50, 100, and 200 EMA lines remain aligned to the downside, suggesting continued downward pressure.

Momentum and Volatility

The 12-hour RSI hit oversold territory, indicating short-term potential for a rebound, though the 24-hour RSI remains bearish. MACD showed a bearish crossover, with negative divergence in the daily view. Bollinger Bands had narrowed before expanding, signaling increased volatility and a likely continuation of the downtrend.

Volume and Turnover

Volume surged during the late-night to early-morning hours as price broke lower, confirming bearish momentum. Notional turnover spiked in tandem with price declines, suggesting coordinated selling.

While a short-term bounce off oversold RSI levels may occur, the longer-term trend remains bearish. Investors should remain cautious for potential short-covering rallies but watch for bearish confirmations on retests of key support.