Market Overview for Flamingo/Tether (FLMUSDT) on 2025-11-11

• Price declined from 0.0192 to 0.0182 over 24 hours.
• RSI suggested oversold conditions with weak momentum.
• Volatility dropped as Bollinger Bands narrowed mid-day.
• Volume picked up in late morning but faded in afternoon.
• 15-min candlestick patterns showed indecision and bearish bias.

The Flamingo/Tether (FLMUSDT) pair opened at 0.0192 on 2025-11-10 at 12:00 ET, reached a high of 0.0196, touched a low of 0.0166, and closed at 0.0182 on 2025-11-11 at 12:00 ET. Over 24 hours, the total volume was 48,581,481.0 and turnover amounted to 927.72.

The price declined in a bearish trend, with a late morning rally to 0.0196 being swiftly reversed after 20:00 ET. Support levels appeared around 0.0185 and 0.0175, while resistance held near 0.0190. A large bearish engulfing pattern formed on 2025-11-11 at 04:00 ET, followed by a long lower shadow indicating consolidation.

Structure & Formations

Candlestick patterns over the 15-minute timeframe showed mixed signals. A bearish engulfing pattern emerged at 04:00 ET, followed by a doji at 07:45 ET, suggesting indecision. The price remained within a descending triangle, with a key support at 0.0182 and resistance at 0.0190. A bearish breakout appears likely if the support is tested again.

Moving Averages

On the 15-minute chart, the 20SMA (Simple Moving Average) and 50SMA crossed over in a death cross formation, reinforcing the bearish bias. On the daily chart, the 50DMA (Daily Moving Average) crossed below the 200DMA, indicating a longer-term bearish trend. The 100DMA provided marginal support but failed to reverse the downward momentum.

MACD & RSI

The MACD histogram showed a consistent bearish divergence, with the MACD line dipping below the signal line and staying negative. The RSI dropped into oversold territory below 30 but showed no signs of reversal. The combination of bearish momentum and weak relative strength indicates the price may consolidate or test lower support levels in the coming 24 hours.

Bollinger Bands

Bollinger Bands contracted in the early morning hours, signaling a period of low volatility. However, as the session progressed, the bands expanded, with the price hovering near the lower band from 06:00 to 11:00 ET. This suggests increasing bearish pressure. A potential bounce or reversal may occur if the price closes above the mid-band, though the likelihood is low given the recent bearish patterns.

Volume & Turnover

Volume spiked to over 1.7 million at 03:15 ET and again at 07:30 ET, coinciding with price declines. These spikes suggest strong bearish conviction. However, by the afternoon, volume decreased significantly, indicating exhaustion. Turnover mirrored these patterns, with the most notable divergence observed at 09:00 ET when volume was high but the price closed lower, suggesting selling pressure outpaced buying.

Fibonacci Retracements

Applying Fibonacci retracement to the recent swing from 0.0196 to 0.0166, key levels include 0.0187 (38.2%) and 0.0179 (61.8%). The 38.2% level appears to act as a temporary support, while the 61.8% level could become a critical test in the next 24 hours. A break below 0.0175 could target 0.0166 as the next potential level.

Backtest Hypothesis

Despite the bearish sentiment evident in today's 15-minute candlestick patterns and the RSI dropping into oversold territory, the historical backtest of an RSI(14)-based overbought breakout strategy did not yield favorable results for FLMUSDT. From 2022–2025, this approach led to negative returns with deep drawdowns and minimal gains. This suggests that using RSI alone to trigger trades may not be sufficient. A refined approach—perhaps using shorter RSI periods (e.g., RSI(2) or RSI(5)) or combining with moving-average trends and risk controls like stops—could potentially improve performance.