Market Overview: Flamingo Finance (FLMUSDT) 24-Hour Technical Summary

• Flamingo Finance experienced a sharp intraday rebound after an early sell-off, forming a bullish reversal pattern near key support.
• Volatility increased significantly, with price breaking above 0.0340 on strong volume.
• RSI surged into overbought territory, suggesting potential for near-term profit-taking.
• Bollinger Bands showed contraction followed by explosive expansion, indicating shifting market sentiment.
• Turnover spiked during the late-night surge, but volume diverged slightly with price, signaling caution.

Flamingo Finance (FLMUSDT) opened at 0.0320 on August 24 at 12:00 ET and closed at 0.0334 by the same time the next day. The price reached a high of 0.0345 and a low of 0.0316 over the 24-hour period. Total trading volume was approximately 48.2 million, with a notional turnover of around $1,633,000.

Structure & Formations

The 15-minute chart displayed a classic bullish reversal after a sharp sell-off, particularly between 03:45 and 06:00 ET, where price rebounded strongly from 0.0335 to 0.0345. A key support level appeared to form at 0.0335, where price found buying interest multiple times. A bearish engulfing pattern emerged at 12:45 and 13:30 ET, indicating short-term pressure. Notably, a morning doji near 0.0332 hinted at indecision after the breakout, though buyers regained control shortly after.

Moving Averages

On the 15-minute chart, the 20-period MA (0.0334) crossed above the 50-period MA (0.0332), signaling a short-term bullish crossover. The 50-period MA itself remained below the 200-period MA, suggesting a longer-term bearish trend. On the daily chart, the price is below both the 50-period and 200-period MAs, indicating that while the intraday trend is positive, the broader trend remains bearish.

MACD & RSI

MACD turned positive at 04:00 ET and remained above the signal line until late morning, suggesting bullish momentum. However, the histogram began to contract after 10:00 ET, signaling weakening bullish energy. RSI spiked to overbought levels (65–75) during the mid-morning surge, raising the risk of a pullback. A bearish divergence between RSI and price was observed near 13:30 ET, where RSI declined despite price remaining flat.

Bollinger Bands

Bollinger Bands showed a period of contraction from 02:00 to 03:30 ET, followed by an explosive expansion that coincided with the price breakout to 0.0345. Price spent a significant portion of the day within the upper third of the bands, indicating heightened volatility. By late afternoon, the price returned closer to the middle band, suggesting a possible reversion to the mean or consolidation phase.

Volume & Turnover

Volume spiked dramatically during the 03:45–06:00 ET window, aligning with the price rebound and confirming the bullish breakout. However, after 10:00 ET, volume declined while price continued to trade higher, indicating potential divergence. Turnover surged in line with volume, though the ratio of turnover to volume remained stable, suggesting genuine accumulation rather than wash trading.

Fibonacci Retracements

Applying Fibonacci to the 03:45–06:00 ET upswing, price tested the 61.8% retracement level at 0.0340 before breaking higher to 0.0345. The 38.2% retracement at 0.0337 acted as temporary resistance before being absorbed into the upward move. On the daily chart, the 38.2% retracement of the recent downtrend lies at 0.0344, where a key pivot could form.

Flamingo Finance appears poised to test 0.0345 as a potential near-term resistance, with a possible pullback to the 0.0335–0.0340 range expected if RSI overbought conditions unwind. Traders should watch for a breakdown below 0.0335 to signal a return to bearish control. Volatility may remain elevated, and volume divergence could hint at a shift in momentum. Investors should remain cautious ahead of the next 24-hour window.