Market Overview for Flamingo Finance (FLMUSDT): August 1, 2025

• Flamingo Finance (FLMUSDT) declined by 6.6% over the past 24 hours, closing near a key support level.
• Momentum weakened as RSI dropped below 30, indicating potential oversold conditions.
• Volatility remained elevated, with price range expanding as Bollinger Bands widened.
• Volume spiked during the early hours, but price failed to follow through, hinting at divergences.
• A bullish engulfing pattern formed near 0.0279, suggesting short-term buying interest.

Flamingo Finance (FLMUSDT) opened at $0.0296 on July 31 at 12:00 ET, reached a high of $0.0302, and closed at $0.028 at 12:00 ET on August 1. Total volume for the 24-hour period was 7,795,889. Total turnover amounted to $216,382.

Structure & Formations

The price action on the 15-minute chart showed a bearish bias, with a key support forming around $0.0278–0.0279 and resistance at $0.0285. A bullish engulfing pattern emerged around $0.0279, suggesting short-term buying pressure. A doji appeared near $0.0282, indicating indecision and potential reversal.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages trended lower, confirming the bearish momentum. The daily chart showed the 50-period and 100-period moving averages converging, with price hovering just below the 200-period line, suggesting a potential consolidation phase.

MACD & RSI

The MACD line crossed below the signal line early in the session, reinforcing the bearish momentum. RSI dropped below 30 by midday, indicating oversold conditions. However, RSI failed to show a strong rebound, suggesting a lack of conviction in the short-term bounce.

Bollinger Bands

Volatility increased throughout the session, with Bollinger Bands widening. Price spent a significant portion of the 24-hour window near the lower band, indicating bearish pressure. A potential bounce from the lower band was observed near $0.0279, but it lacked follow-through.

Volume & Turnover

Volume surged during the early hours of the session, particularly between 00:00 and 01:00 ET, but price failed to break above $0.0285. This divergence between volume and price suggests a potential lack of follow-through in the short-term rally. Turnover remained consistent, with no extreme spikes that would indicate large institutional participation.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from $0.0302 to $0.0272 showed key levels at $0.0289 (38.2%) and $0.0282 (61.8%). Price stalled near the 61.8% level before consolidating. A break above $0.0282 may test the 38.2% level, but a failure to hold above $0.0279 could lead to further downside.

FLMUSDT may test key support at $0.0278 in the next 24 hours. A break below could target $0.0272–0.0273, while a rebound above $0.0282 may attract short-covering buyers. Investors should remain cautious due to the mixed signals in volume and momentum indicators.