Flamingo/Tether (FLMUSDT) Market Overview

• Flamingo/Tether (FLMUSDT) fell 0.7% over 24 hours, closing below key support at $0.0269.
• Volatility expanded in the overnight session, with a 2.7% drop from $0.0271 to $0.0265.
• Volume spiked after 06:00 ET, but price failed to respond with follow-through buying.
• RSI entered oversold territory at 25, while MACD turned bearish with a negative crossover.
• Bollinger Bands widened as price tested lower boundaries, hinting at potential reversal or breakdown.

At 12:00 ET on 2025-10-04, Flamingo/Tether (FLMUSDT) opened at $0.0271, reached a high of $0.0275, and closed at $0.0262 after hitting a low of $0.0257. Total volume for the 24-hour period was 13,883,053, with a notional turnover of approximately $354,555. Price action showed a sharp breakdown from key resistance at $0.0271, with bears maintaining control into the final hours.

Structure & Formations

Price action over the 24 hours revealed a series of bearish signals. A long-legged doji formed near $0.0271, indicating indecision at key resistance. The breakdown below $0.0269 confirmed a bearish bias, and subsequent rejection at $0.0267 formed a potential double-bottom pattern. The swing low at $0.0257 appears to be the most recent floor, with support at $0.0261–$0.0263 likely to be tested in the near term.

Moving Averages

On the 15-minute chart, the 20 and 50-period moving averages have converged lower, with price currently below both and trending downward. The 50-period MA has crossed below the 100-period on the daily chart, forming a death cross that reinforces the bearish outlook. Price is set to test the 200-day MA at ~$0.0264 in the coming sessions.

MACD & RSI

The RSI has entered oversold territory, currently reading around 25, but divergence is weak due to the lack of follow-through buying. The MACD has turned bearish with a negative crossover and declining histogram, confirming the bearish momentum. These indicators suggest a potential reversal near $0.0260–$0.0262, but caution is warranted as the trend remains downward.

Bollinger Bands

Bollinger Bands have expanded significantly during the overnight session, reflecting increased volatility as price dropped from $0.0271 to $0.0265. Price is currently trading near the lower band at $0.0261, with a potential bounce likely if bulls regain control. A sustained break below the lower band may accelerate the move toward $0.0255–$0.0257.

Volume & Turnover

Volume surged after 06:00 ET, with a sharp drop in price coinciding with heavy selling pressure. Notional turnover peaked at $320,000 during the breakdown to $0.0265 but failed to confirm a strong bearish conviction. Price and turnover appear aligned on the bearish side, but the lack of follow-through buying after $0.0265 suggests the move could be running out of steam.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing from $0.0271 to $0.0265, key levels at 38.2% ($0.0267) and 61.8% ($0.0264) have been rejected. On the daily chart, the 61.8% retracement from the recent high aligns with the 200-day MA, suggesting potential consolidation near $0.0264 if buyers emerge.

Backtest Hypothesis

A backtesting strategy based on the convergence of RSI oversold levels and a negative MACD crossover over the past 15-minute interval may be used to identify short-term reversal opportunities. Traders could enter long positions on a confirmed bounce above $0.0262, with a stop-loss below $0.0260 and a target at $0.0265. Given the low volume at these levels, success may depend on broader market sentiment and macroeconomic catalysts.