Market Overview: Flamingo/Tether (FLMUSDT) – November 1, 2025, 24-Hour Analysis

• Flamingo/Tether (FLMUSDT) opened at $0.026 and closed at $0.0255 after a 24-hour range of $0.0235–$0.0266.
• A strong bearish trend early in the session was met with a rebound from 6:00–9:00 ET, with a 1.8% recovery.
• Volume remained moderate throughout the session, peaking at 6.35M around 12:45 PM ET but no large divergences observed.
• RSI entered overbought territory twice but failed to push above 65, suggesting capped upside momentum.
• A bullish engulfing pattern formed at 8:15 AM ET but failed to confirm with follow-through buying.

Flamingo/Tether (FLMUSDT) opened at $0.026 on October 31 at 12:00 PM ET and closed at $0.0255 by 12:00 PM ET on November 1. The pair reached a high of $0.0266 and a low of $0.0235 over the 24-hour period. Total volume amounted to 61.2 million, while turnover stood at $15.3 million. The pair displayed a volatile but ultimately mixed session, with bears and bulls alternating control across multiple time intervals.

Structure & Formations

The 24-hour price action shows a bearish bias early in the session, with a series of lower lows and lower closes between 4:00 PM and 10:00 PM ET. A key support level emerged around $0.0244–0.0245, where price found a floor and rebounded multiple times. A bearish engulfing candle formed at 6:00 PM ET (UTC-4), confirming a short-term bearish shift. Later in the session, from 8:15 AM to 10:00 AM ET, a bullish engulfing pattern emerged, signaling a short-term reversal attempt. However, the lack of follow-through volume and a narrow close on the pattern suggest limited conviction.

Moving Averages and Bollinger Bands

On the 15-minute chart, price spent much of the session below the 50-period and 20-period moving averages, with only a temporary recovery above both around 8:00–10:00 AM ET. Bollinger Bands remained in a moderate expansion phase, with price frequently hovering near the upper and lower boundaries. The 24-hour range saw a slight expansion in volatility, with the bands widening from 0.025 to 0.026 at the session’s peak.

Momentum Indicators: MACD and RSI

The MACD histogram showed a bearish crossover early in the session and remained negative for most of the 24-hour period. A positive divergence formed late in the session, aligning with the bullish engulfing pattern. RSI entered overbought territory briefly around 12:45 PM and 8:30 AM ET, but failed to sustain readings above 65, suggesting buyers were reluctant to push the price higher. The lack of strong overbought or oversold readings implies the market may not be at an inflection point.

Volume & Turnover

Turnover and volume remained relatively balanced throughout the session, with no major spikes beyond the 6.35 million mark at 12:45 PM ET. A divergence emerged at 5:00 PM ET, where volume spiked but price failed to break a key support level, signaling potential exhaustion in the bearish move. Price action and volume aligned most closely between 8:15–9:30 AM ET, where the bullish engulfing pattern and increased volume suggested a possible short-term reversal.

Fibonacci Retracements

Applying Fibonacci to the key swing from the high of $0.0266 to the low of $0.0235, the 50% retracement level fell near $0.02505, which acted as a resistance and a support during the session. The 61.8% retracement level at $0.0248 also held significance, with price bouncing off it multiple times. On the 15-minute chart, retracement levels between $0.0248 and $0.0252 played a role in daily oscillations, reinforcing the idea that the $0.0248–0.0252 range may be pivotal for the next 24 hours.

Backtest Hypothesis

To better understand potential trade opportunities, a backtest based on the “bullish engulfing” candlestick pattern was attempted for two tickers—BLSH.N and HOLD.P. However, the data source returned “empty data” for BLSH.N and did not recognize the symbol HOLD.P. This may indicate issues with ticker formatting or data availability for illiquid or newly listed assets. To proceed, valid ticker symbols—recognized by major U.S. data feeds—must be provided. Once a valid ticker is confirmed, a full backtest can be run using the following steps: 1) pull daily OHLC data, 2) detect bullish engulfing patterns, 3) generate 3-day holding signals, and 4) compute performance metrics and visualizations. This strategy is rooted in the technical analysis discussed above, where such patterns have shown limited follow-through on FLMUSDT.