Flamingo Finance Market Overview

• Flamingo Finance opened at $0.0312, hit a high of $0.0316, then closed at $0.0298 after a broad 24-hour decline.
• Price failed to hold key resistance at $0.0313, with bearish momentum intensifying in the last 4 hours.
• Volume spiked during the breakdown below $0.031, signaling a strong shift in market sentiment.
• RSI reached oversold territory by the close, hinting at potential short-term reversal, though bearish bias remains intact.
• Volatility expanded with a 2.5% 24-hour range, with Bollinger Bands widening as market uncertainty grew.

Market Overview

Flamingo Finance opened at $0.0312 on 2025-08-09 12:00 ET, reached a high of $0.0316, and closed at $0.0298 by 12:00 ET on 2025-08-10. The pair traded with a 24-hour volume of 7.08 million FLM and a notional turnover of $216,500, reflecting heightened trading activity and distribution.

Structure & Formations

The price moved in a bearish trend, forming multiple bearish engulfing patterns and a key breakdown candle at $0.031. A notable bearish reversal occurred around $0.0303, with support forming at $0.0302–$0.0305. Key resistance appears near $0.0313, which was tested multiple times without a strong retest.

Moving Averages

On the 15-minute chart, the 20 and 50-period moving averages trended downward, reinforcing bearish bias. On the daily chart, the price closed below the 50- and 100-period MAs, suggesting further potential for a test of the 200-period MA at ~$0.0297.

MACD & RSI

The MACD turned negative during the afternoon of 2025-08-10, with a bearish crossover confirming downward momentum. RSI fell below 30 in the final 2 hours, indicating oversold conditions, though this does not necessarily guarantee a reversal without bullish confirmation.

Bollinger Bands

Volatility expanded significantly during the breakdown phase, with price falling below the lower band at $0.0307. This suggests a period of overextension and a potential bounce, though bearish continuation remains a strong possibility if price fails to retrace above $0.0308.

Volume & Turnover

Volume surged during the critical breakdown at $0.031, confirming the move lower. Notional turnover increased alongside the price drop, aligning with price action and reinforcing bearish conviction. However, volume began to wane in the final hours, which could signal exhaustion or a pause.

Fibonacci Retracements

From the high at $0.0316 to the low at $0.0298, the 38.2% retracement level is at $0.0307, while the 61.8% level is at $0.0302. Price briefly tested the 61.8% level but failed to hold, suggesting that further support could be found near $0.0297–$0.0300.

Flamingo Finance may find near-term support near $0.0297 and resistance at $0.0308 in the next 24 hours. Traders should remain cautious of continued bearish momentum and potential breakdowns if the 200-period MA is not held. As always, position sizing and stop-loss levels should be considered due to heightened volatility.