Flamingo/Tether (FLMUSDT) Market Overview: 24-Hour Breakout and Volatility Expansion

• FLMUSDT rallied to 0.0255 before retracing to 0.0241; volume surged during breakout.
• RSI overbought at 78, MACD line crossed above signal line (bullish).
• Volatility expanded, price inside upper Bollinger Band, 20SMA above 50SMA.
• Key support at 0.0232 and resistance at 0.0251 confirmed by swing levels.
• Turnover surged during 11:15–11:30 ET, signaling heightened short-term interest.

Flamingo/Tether (FLMUSDT) opened at 0.0191 on 2025-11-06 at 12:00 ET and closed at 0.0241 on 2025-11-07 at 12:00 ET, reaching a high of 0.0271 and a low of 0.0188 during the 24-hour period. Total volume was 265,527,100, and notional turnover reached $6,637,623, suggesting heightened activity and conviction in the recent rally.

Structure & Formations

The daily chart shows a strong upward bias with key support at 0.0232 (61.8% Fib level) and resistance at 0.0251 (38.2% Fib level). A bullish engulfing pattern formed on the 11:15–11:30 ET candle, which closed at 0.022, signaling renewed buying interest. A doji appeared at 16:00 ET as a potential short-term reversal sign. The price appears to be consolidating near the upper Bollinger Band, suggesting a period of high volatility following the breakout.

Moving Averages

On the 15-minute chart, the 20SMA has crossed above the 50SMA, forming a golden cross. This suggests medium-term bullish momentum. On the daily timeframe, the 50SMA is above the 100SMA, and the 200SMA is acting as a key support level below 0.0232. The crossover of the 20SMA above the 50SMA may indicate continued upward potential, but a pullback to the 50SMA could trigger consolidation.

MACD & RSI

The MACD line crossed above the signal line around 11:30 ET, confirming bullish momentum. The RSI reached 78 during the peak of the rally, indicating overbought conditions. While overbought readings can precede corrections, the high volume during the move suggests a stronger, more sustained uptrend may be in play. A pullback to RSI levels below 50 could signal a short-term reversal.

Bollinger Bands

Price has remained near the upper Bollinger Band for much of the 24-hour period, indicating high volatility. The band width has expanded significantly since 11:00 ET, consistent with the breakout. A retest of the upper band may trigger a reversion, but the sustained volume above the 20SMA suggests a continuation is also possible.

Volume & Turnover

Volume spiked during the 11:15–11:30 ET window, coinciding with the highest notional turnover of the period. This volume confirmed the price action, reinforcing the breakout above 0.0251. A divergence between price and volume may appear if the rally continues without fresh buying, which could signal a weakening trend. However, the current alignment appears supportive of bullish sentiment.

Fibonacci Retracements

Key Fibonacci retracement levels on the 15-minute swing from 0.0188 to 0.0271 are now at 0.0232 (61.8%) and 0.0251 (38.2%). On the daily chart, the 61.8% level sits at 0.0232, acting as strong support. Price appears to be consolidating near the 38.2% retracement, suggesting a potential pause before a next move higher.

Backtest Hypothesis

The recent rally in FLMUSDT highlights the importance of using correct ticker symbols for accurate technical data. For instance, in a similar scenario involving the Harbor Alpha Layering ETF, an attempt to pull MACD data for “HOLD.P” failed due to an unrecognized symbol. It was later clarified that the correct ticker is “HOLD” (without the “.P” suffix). Once the correct symbol is confirmed, the following backtesting strategy can be applied: (1) Re-download the MACD series to identify golden-cross dates; (2) Generate 5-day holding signals for each cross; and (3) Run a back-test from 2022-01-01 through today to evaluate performance. This method can be adapted for FLMUSDT to assess its trend-following potential using similar indicators.