FLOKI/Tether Market Overview for 2025-11-06

Summary
• FLOKI/Tether opened at $0.00005978 and closed at $0.00005843, down -2.27%.
• The price action saw a bearish breakdown below key support levels.
• Elevated volume and declining price signal potential bearish momentum.
• RSI and MACD confirm bearish divergence and weakening sentiment.
• Bollinger Bands show price near the lower band, indicating oversold conditions.

FLOKI/Tether (FLOKIUSDT) opened at $0.00005978 at 12:00 ET-1 and closed at $0.00005843 at 12:00 ET. The 24-hour range was between $0.00005997 and $0.00006104. Total trading volume was 23.33 billion, with a turnover of $1.4 billion.

Structure & Formations

The price structure shows a bearish breakdown with multiple rejections near the $0.00006040–$0.00006060 resistance cluster. A bearish engulfing pattern appeared near $0.00006060, followed by a series of bearish hammers and long-bodied candle declines. Key support levels have formed around $0.00005930 and $0.00005870, with further bearish pressure expected if $0.00005800 is breached.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart are both bearishly aligned, with the price below both. On the daily chart, the 50-period and 200-period SMAs are converging with the price near the 50-day line. A break below this may trigger a faster descent toward the 200-day level.

MACD & RSI

MACD shows bearish crossover with a negative histogram that has widened, indicating strengthening downward momentum. RSI is currently at 32, in oversold territory, but with negative divergence from price action suggesting a lack of bullish reversal signals. A rebound above $0.00006050 could provide temporary relief but likely fails to rekindle bullish sentiment.

Bollinger Bands

Volatility has expanded with the bands widening over the last 24 hours. Price has settled near the lower band, reinforcing bearish sentiment and the potential for further downside. A retest of the upper band at $0.00006090 would require a sharp reversal and increased buying pressure that has not yet materialized.

Volume & Turnover

Trading volume spiked significantly in the mid-to-late afternoon (ET), coinciding with the breakdown under $0.00006000. The $1.4 billion turnover over 24 hours supports the bearish move, indicating accumulation by sellers. Divergence between volume and price during late-night hours suggests weakening conviction in further short-term selling.

Fibonacci Retracements

Applying Fibonacci to the recent 15-minute swing from $0.00006104 to $0.00005843 shows 38.2% at $0.00005994 and 61.8% at $0.00005870. These levels have seen price rejection and may serve as key pivots. On the daily chart, the 61.8% retracement of the recent bearish leg is near $0.00005800, a level to watch for potential continuation of the downtrend.

Backtest Hypothesis

Given the recent bearish breakdown and confirmed Bearish Engulfing pattern, a backtest of a short bias on confirmation of the pattern at $0.00006060 appears promising. A stop loss above $0.00006100 and a target near $0.00005870 would align with historical behavior. A stop-loss trigger above $0.00006100 could limit risk while capturing the expected bearish continuation. This strategy could be tested using a 15-minute time frame from 2023-01-01 to 2025-11-06 to confirm consistency in pattern performance.