Flamingo/Tether (FLMUSDT) Market Overview

• Price declined from 0.0221 to 0.0212 over 24 hours, ending with bearish momentum.
• Volatility expanded after a consolidation phase, with a sharp drop in the early window.
• High volume during the bearish breakdown suggests strong distribution.
• No clear reversal signals emerged; price remains below key moving averages.
• RSI near neutral territory but lacks bullish divergence to support a rebound.

Flamingo/Tether (FLMUSDT) opened at 0.0220 on 2025-10-22 at 12:00 ET and closed at 0.0212 by the same time on 2025-10-23, with a high of 0.0221 and a low of 0.0204. The pair recorded a total volume of 10,225,863.0 and a notional turnover of $219,511.5 (based on average price of 0.02145). The bearish trend gained strength as price broke below key support levels, with volume confirming the breakdown.

Over the 24-hour period, the 15-minute chart displayed a consistent bearish slant, with several key support levels broken, including the 0.0215 and 0.0217 levels. A notable bearish candlestick formation occurred during the early hours of the session, marked by a long bearish body and weak recovery wicks, suggesting strong distribution. A bearish engulfing pattern was observed as price moved from 0.0219 to 0.0216 within a 15-minute window, reinforcing the downward bias.

Structure & Formations

The price action appears to have established a new bearish trend, with the 0.0212–0.0215 range likely serving as immediate support. A 61.8% Fibonacci retracement level from the recent high of 0.0221 to the low of 0.0204 is near 0.0214, which could see retesting. No strong reversal patterns have emerged yet, and price continues to trade under pressure.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart both appear to be bearishly aligned, with price staying well below the 50-period line. On the daily chart, price remains below the 200-period MA, reinforcing the bearish medium-term bias. The 50-period MA on the 15-minute chart may serve as a dynamic resistance level for near-term bounces.

MACD & RSI

The MACD line remained negative throughout the session, with bearish divergence visible as price made lower highs while MACD failed to confirm a stronger bearish move. RSI, currently near 50, lacks overbought/oversold divergence, but its slow descent suggests that bearish momentum is still intact. A rebound to 55 could indicate some short-term demand, though a break below 45 may signal further weakness.

Bollinger Bands

Price has expanded beyond the lower Bollinger Band during the session’s decline, particularly in the 0.0213–0.0204 range, indicating heightened volatility. The bands have widened, signaling an active bearish phase. A retest of the upper band at 0.0216 may offer some resistance for a potential bounce, but the prevailing bearish bias remains intact.

Volume & Turnover

Volume spiked during the initial breakdown, with the highest volume candle registering at 1,277,971.0 and a turnover of $27,230.38. This confirms strong distribution pressure at that level. While price has continued to trend lower, volume has moderated, indicating reduced conviction in further declines at this stage. A return of volume during a bounce could suggest accumulation.

Fibonacci Retracements

Key Fibonacci levels from the 0.0221–0.0204 swing include 61.8% at 0.0214 and 38.2% at 0.0218. Price may find short-term support at 0.0214 before testing the next level. A failure to hold at 0.0214 could see price extend toward 0.0208–0.0204.

Backtest Hypothesis

A backtest strategy is being proposed to validate the bearish momentum observed in the 15-minute chart and its alignment with the MACD signal. Given the current bearish divergence in MACD and the lack of a strong reversal pattern, a 5-day holding strategy could be tested by entering short positions when the MACD line crosses below the signal line and price breaks below key Fibonacci support levels. However, the data source returned an error for MACD data, likely due to symbol mismatch or incomplete coverage. To proceed, you may confirm the exact symbol format (e.g., “FLM-USDT”), provide manual MACD death-cross dates, or switch to a supported ticker for the test.