FLOWUSDT Market Overview

• Flow/Tether declined 0.7% over the last 24 hours, with a key support level holding at 0.271.
• Momentum weakened on bearish RSI divergence and shrinking Bollinger Band width.
• High-volume consolidation near 0.275 suggests short-term uncertainty ahead.
• Turnover surged during a 0.277–0.279 breakout attempt, later rejected with bearish conviction.
• No clear 50-period moving average crossover emerged, signaling neutral-to-bearish bias.

The 24-hour chart for Flow/Tether (FLOWUSDT) showed a modest bearish drift, opening at 0.273 on October 23 at 12:00 ET and closing at 0.274 on October 24 at 12:00 ET. The pair reached a high of 0.28 and touched a low of 0.269. Total volume for the period was 1,366,214.36 with a turnover of $369,127.29 (assuming $ = USDT). The price action suggested a potential exhaustion of bullish momentum, marked by a failed attempt to break above 0.279 and a subsequent pullback to critical support near 0.271.

In terms of structure, a bearish engulfing pattern appeared at 0.279–0.277 on October 24 at 05:15 ET, signaling a potential reversal in short-term bullish bias. The 20-period and 50-period moving averages on the 15-minute chart remained in a near-horizontal alignment, suggesting a lack of clear directional momentum. On the daily chart, the 50-period SMA at 0.274 and 200-period SMA at 0.271 provided a neutral baseline, with price hovering just above the key psychological level of 0.275.

The RSI indicator on the 15-minute chart dipped into oversold territory at 26.2 during a pullback to 0.271, but failed to generate a strong bullish divergence, hinting at bearish continuation. MACD crossed into negative territory around 0.274, with the histogram showing a mild bearish contraction. Bollinger Bands narrowed during the consolidation phase around 0.275–0.276, indicating a possible period of volatility contraction that may precede a breakout or breakdown. Price later moved to sit just below the upper band on the 0.279–0.277 move, then closed near the lower band following the rejection.

Volume spiked during the 0.277–0.279 rally but diminished sharply after the bearish reversal. Notional turnover was particularly heavy between 0.273 and 0.276, suggesting a concentration of order flow and potential resistance. Notably, price and volume diverged during the 0.276–0.275 consolidation, with declining volume despite a price decline, indicating a lack of conviction in the bearish move. Fibonacci retracement levels on the 0.269–0.279 swing showed the price currently resting just below the 61.8% level, which may offer additional bearish confirmation if the trend continues.

The MACD and RSI indicators could play a pivotal role in testing a short-biased strategy based on bearish engulfing patterns. A potential backtest would open a short position the day after such a pattern forms and use the 50-period SMA as an exit rule. This approach aligns with the recent bearish divergence in RSI and MACD, offering a quantifiable way to validate the observed trend dynamics.