Market Overview: Flamingo/Tether (FLMUSDT) 24-Hour Movement Analysis

• Flamingo/Tether (FLMUSDT) traded between $0.0249 and $0.0262, closing near $0.0255 after a sharp intraday pullback.
• A bearish reversal pattern formed following a sharp early drop, with volume increasing as price declined.
• RSI dipped into oversold territory, suggesting potential for a rebound, though MACD remained bearish.
• Volatility expanded as price broke below key support levels, with a 24-hour turnover of ~$13.1 million.

Flamingo/Tether (FLMUSDT) opened at $0.0257 on 2025-10-04 at 12:00 ET and traded as high as $0.0262 before retreating to a low of $0.0249, closing at $0.0255 on 2025-10-05 at 12:00 ET. The 24-hour volume was approximately 13.1 million FLM, with a notional turnover of ~$13.1 million. Price action shows a bearish continuation following a sharp reversal in early trading.

Structure & Formations

The price formed a bearish hammer candle and a potential evening star pattern as it fell below key support levels at $0.0257–$0.0258. A strong bearish engulfing pattern emerged during the 00:00–00:15 ET session as price fell sharply to $0.0250, signaling a potential reversal from previous bullish momentum. A multi-candle consolidation below $0.0257 confirmed bearish sentiment, with a key 61.8% Fibonacci retracement level at $0.0253 becoming a short-term floor.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both bearish, with the 20-period line below the 50-period, indicating bearish momentum. On the daily chart, the 50-period MA is above the 200-period MA, but the 100-period MA is bearish, suggesting the market remains in a mixed phase. Price is now below all key MAs, reinforcing bearish bias.

MACD & RSI

The RSI hit oversold territory at ~30, which could indicate a short-term rebound is likely. However, the MACD remains bearish, with a negative histogram and a slow line below the fast line. This divergence between RSI and MACD suggests caution—while a bounce is possible, it may lack momentum to reverse the broader downtrend.

Bollinger Bands

Volatility expanded as price moved from the upper to lower band within the 24-hour period. A notable contraction occurred just before the sharp drop at 00:00 ET, followed by a breakout to the downside, a classic bearish setup. Price has since remained near the lower band, indicating a continuation of bearish pressure.

Volume & Turnover
Volume spiked during the downward leg from $0.0258 to $0.0250, confirming bearish sentiment. The highest volume occurred during the 00:00–00:15 ET session, aligning with the sharpest drop. Notional turnover also saw a peak during this time, reinforcing the conviction of sellers. However, volume has since normalized, suggesting the bearish phase may be maturing.

Fibonacci Retracements

Key Fibonacci levels were hit during the downward move, with the 61.8% retracement at $0.0253 acting as a soft floor. The 38.2% retracement at $0.0255 may become a near-term resistance level. A bounce from this level could test the 50% retracement at $0.0257, which has previously acted as a minor support and resistance.

Backtest Hypothesis

Applying a mean-reversion strategy around the 61.8% Fibonacci level and the 20-period moving average could offer a testable backtest hypothesis. A long entry could be triggered on a close above $0.0253 with a stop-loss below the 38.2% level at $0.0251, aiming for a target at $0.0257. The MACD histogram turning positive and RSI rising above 40 would act as confirmation signals, reducing false entries during choppy phases.