Market Overview for Flamingo/Tether (FLMUSDT): 2025-10-31

• Flamingo/Tether (FLMUSDT) traded in a 24-hour range of $0.0224–$0.0290, closing near intraday highs at $0.0257.
• Price broke above a key resistance cluster around $0.0260–$0.0265 on increased volume near 09:15 ET, signaling a potential bullish breakout.
• Volatility surged during the overnight session, with a 12.8% increase in notional turnover, but volume remains mixed post-breakout.
• RSI suggests overbought conditions at 67, while MACD remains positive, hinting at lingering upward momentum.
• A 38.2% Fibonacci retracement at $0.0270 may offer near-term resistance, with a key support at $0.0245.

The Flamingo/Tether pair (FLMUSDT) opened at $0.0250 on 2025-10-30 at 12:00 ET and traded within a 24-hour range of $0.0224 to $0.0290, ultimately closing at $0.0257 on 2025-10-31 at 12:00 ET. Total volume across the 24-hour window amounted to 189,619,761.0 FLM, with total notional turnover reaching approximately $4.86 million. The price displayed a distinct upward bias, especially during the early hours of the session and into the European and US trading windows.

Structure and formations suggest that FLMUSDT has found key support levels at $0.0245 and $0.0240, with the latter tested twice without a firm break below. A potential bull flag pattern is emerging from $0.0250–$0.0255, supported by a series of higher lows and mixed higher highs. Notably, a bullish engulfing pattern formed at $0.0250 on 2025-10-31 at 09:15 ET, which appears to have driven the price above the key resistance level of $0.0260. This pattern is typically associated with a shift in short-term momentum.

Moving averages show the price above both the 20-EMA ($0.0250) and 50-EMA ($0.0247) on the 15-minute chart, indicating a continuation of the upward bias. On the daily chart, the 50-SMA ($0.0248) and 200-SMA ($0.0240) appear to form a potential convergence zone, suggesting that a move above the 50-SMA could confirm a more sustained bullish trend.

MACD crossed above the zero line during the overnight session and remains in positive territory, reinforcing the bullish sentiment. The histogram has widened moderately, indicating strengthening momentum. RSI reached 67 at the close, suggesting overbought conditions, but without a strong divergence from price. Bollinger Bands are currently in an expansionary phase, with the price trading near the upper band, suggesting elevated volatility and potential for a mean reversion or continuation.

Volume and turnover data indicate a surge in activity during the early hours, especially around the 09:15 ET bullish engulfing pattern. Notional turnover reached $4.86 million in the 24-hour window, with a noticeable increase in volume during the breakout period. However, volume has since softened, suggesting some consolidation. A potential divergence between price and volume may warrant caution in the near term, though the overall trend remains intact.

Fibonacci retracements drawn from the overnight swing high of $0.0290 and the low of $0.0224 indicate key levels for the next 24 hours. The 38.2% retracement sits at $0.0270, while the 61.8% level is at $0.0252. A close above $0.0270 could confirm a strong continuation of the upward trend, while a retest of $0.0245 would serve as a key support level to watch.

The pair may continue to test the $0.0270 Fibonacci level in the near term, but a sharp drop in volume or a bearish reversal pattern could signal a pullback. Investors should monitor the 50-EMA for a potential convergence and divergence in the MACD for signs of waning momentum. Given the current conditions, a cautious long bias appears justified, with tight stops below $0.0245 to manage downside risk.

Backtest Hypothesis
The absence of “asset base info” for FLMUSDT on the 1-hour timeframe complicates the automated detection of Bullish-Engulfing patterns. Given the observed 15-minute bullish engulfing pattern at $0.0250 and the subsequent price action, a manual backtest could be conducted using historical timestamps of confirmed Bullish-Engulfing setups on the 15-minute chart. If this pattern historically yielded a 70% success rate in continuation after confirmation, it could support a short-term long bias. To proceed, a manually curated list of such timestamps would need to be provided.