FLM +428.57% in 24 Hours Amid Strong Short-Term Gains

On SEP 8 2025, FLM experienced a dramatic surge of 428.57% within 24 hours, reaching a price of $0.029. Over the past seven days, the token appreciated by 281.69%, and by 209.79% in the last month. While the year-over-year performance remains negative, with a 5858.16% drop recorded, the recent short-term momentum has drawn significant attention from traders and analysts.

The recent performance of FLM has been characterized by a sharp and rapid price increase. This surge suggests a strong short-term bullish momentum, with traders likely reacting to a combination of market sentiment and on-chain activity. The sharp upward movement in such a short period highlights a high level of speculative trading and may indicate a potential reversal in investor confidence.

Technical indicators on the 1-hour chart show a breakout above key resistance levels, with the RSI and MACD aligning to confirm a bullish bias. The price movement has effectively closed the gap between key support and resistance lines, reinforcing the idea that FLM is experiencing a short-term rally. Analysts have noted that the recent performance reflects increased buying pressure and limited selling pressure.

Backtest Hypothesis

A proposed backtesting strategy focuses on leveraging the recent price breakout using a combination of moving averages and the Relative Strength Index (RSI). The strategy would enter a long position when the price crosses above a 50-period and 200-period moving average and the RSI moves into overbought territory, signaling a continuation of bullish momentum. The exit strategy would be triggered when the price closes below the 50-period moving average or when the RSI indicates overbought conditions are no longer sustained. This approach aims to capitalize on the short-term momentum while managing risk through defined exit points.

The backtest would use historical price data to simulate trade execution and performance across multiple timeframes. By aligning the strategy with the recent price action, the hypothesis is that it would effectively capture the upward move in FLM while mitigating exposure to potential short-term volatility. The goal is to determine whether the strategy could have generated consistent returns during similar market conditions, thereby offering a data-driven approach to evaluating the token's recent performance.