FLOKIUSDT’s Failed Rebound Sparks Bearish Doubt

Summary
• Price formed a bullish engulfing pattern after a sharp selloff in early ET hours.
• Volume spiked at 16:15 and 16:30 ET, coinciding with a 0.3218–0.3225 price rebound.
• RSI hit oversold territory at 0.3103 level but failed to confirm a strong reversal.
• Bollinger Bands showed a contraction before 15:00 ET followed by a moderate expansion.
• Price tested 0.3155–0.3170 support twice, closing near the lower end of the range.

FLOKI/Tether (FLOKIUSDT) opened at 0.00003290 on 2026-02-06 12:00 ET, surged to 0.00003339, and bottomed at 0.00003071, closing at 0.00003102 on 2026-02-07 12:00 ET. Total 24-hour volume was 37,802,826,131.0, with notional turnover of 1,212,180.73.

Structure & Key Levels

The session exhibited a bearish bias, with price consolidating below the 0.00003240 resistance line, which was tested multiple times without a breakout. A bullish engulfing pattern formed at the 17:00 ET candle, but it was quickly eroded by the afternoon sell-off. Key support levels identified include 0.00003155 and 0.00003100, where price found temporary relief but showed no strong reversal.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages converged around 0.00003230–0.00003235, forming a dynamic resistance cluster. Price closed below both, indicating bearish control. Daily 50/100/200 MA levels show a more neutral alignment, but the 200 MA at ~0.00003150 was briefly tested late in the session.

Momentum Indicators

MACD lines showed bearish divergence in the afternoon, with a negative cross occurring around 16:15 ET coinciding with a large volume spike. RSI reached oversold levels below 30 at 0.00003103 but failed to reverse decisively, suggesting possible exhaustion or a deeper correction may still be in play.

Volatility and Bollinger Bands

Bollinger Bands displayed a tightening trend before 15:00 ET, hinting at a potential breakout. Price moved below the lower band after 18:00 ET, indicating heightened bearish volatility. The expansion in the final hours suggests increased uncertainty.

Volume and Turnover

Volume spiked at 16:15 ET (37.8 billion) and 16:30 ET (19.9 billion), suggesting significant participation during a rebound attempt. However, price failed to sustain above 0.00003180, indicating weak conviction. Notional turnover confirmed the volume increase, with no signs of divergence.

Key Fibonacci Levels

Fibonacci retracement levels applied to the 17:00–06:00 ET swing identified critical areas at 0.00003170 (38.2%), 0.00003140 (50%), and 0.00003105 (61.8%). Price tested the 61.8% level at 0.00003105 but closed slightly above it.

Price may test the 0.00003070–0.00003085 level in the near term if the current bearish trend continues. Investors should monitor volume for signs of reversal or breakout strength in the next 24 hours, with caution advised given the fragile support levels.