Flamingo/Tether (FLMUSDT) Market Overview: 24-Hour Analysis for September 22, 2025

• FLMUSDT declined by ~8.8% over the past 24 hours, closing at 0.0294 after opening at 0.0328.
• Volatility surged during the early hours of ET with a high of 0.033 and a low of 0.0283.
• Downtrend appears to accelerate after a bearish engulfing pattern formed at 0.0327–0.0322.
• RSI entered oversold territory below 30 late morning, suggesting potential near-term bounce.
• Bollinger Bands show price at the lower band, indicating compressed volatility and potential reversal.

Flamingo/Tether (FLMUSDT) opened at 0.0328 on September 21 at 12:00 ET and closed at 0.0294 on September 22 at the same time, with a high of 0.033 and a low of 0.0283. Total traded volume reached 13.7 million FLM tokens, while turnover amounted to approximately $415,000. The pair has been trending lower after a large bearish candle on the 15-minute chart.

Price action shows a clear breakdown from a short-term consolidation pattern that had formed around 0.0326–0.0328. A bearish engulfing pattern appeared during the early hours of ET, confirming bearish momentum. This was followed by a sharp decline toward 0.0306 and continued pressure into the lower band of the Bollinger Bands, signaling extreme volatility. Key support levels include 0.0322 and 0.0316, while resistance remains at 0.0327 and 0.0329.

A notable divergence appears between price and RSI, as the RSI reached oversold territory (below 30) during the morning hours, but price continued lower. This suggests that while the RSI is signaling a possible rebound, the bears remain in control for now. The MACD crossed into negative territory with a bearish signal line crossover, reinforcing the short-term bearish bias. 50-period and 200-period moving averages on the daily chart are both below price, supporting a downtrend.

Volume surged during the early hours of ET, particularly between 19:00 and 20:00 ET, when the price dropped from 0.033 to below 0.0315. This volume spike aligned with price action, indicating conviction in the downward move. However, volume has since declined, and recent price action suggests fading momentum. The Bollinger Bands also show a recent narrowing, indicating a potential breakout or reversal may be due in the next 24 hours.

Backtest Hypothesis

The backtesting strategy outlined involves a short-term bearish play based on a confirmed bearish engulfing pattern and a closing below the 50-period EMA on the 15-minute chart. A sell entry would be triggered if price breaks below 0.0294 (the 24-hour close) with a stop loss placed above the 0.0301 level. A target can be set at the 0.0283 low, or the next Fibonacci 61.8% retracement level at 0.0285, which aligns with a previous support zone. This strategy relies on continuation of the current trend and a non-retest of the key resistance levels. Given the RSI oversold reading, it is also prudent to monitor for a potential false breakout or a reversal setup as price nears these levels.