Market Overview for Flamingo/Tether (FLMUSDT): October 11, 2025

• Price plunged from $0.0244 to $0.018 over 24 hours, driven by sharp downward momentum.
• Volatility surged with a 15-minute OHLC range of up to $0.0013 during the sell-off phase.
• Volume spiked sharply as price dropped below $0.020, confirming bearish pressure.
• RSI moved into oversold territory near 30, hinting at potential short-term stabilisation.
• Bollinger Bands widened as price broke key support levels, indicating heightened volatility.

24-Hour Price and Volume Summary

Flamingo/Tether (FLMUSDT) opened at $0.0242 on October 10 at 12:00 ET, reaching a high of $0.0244 before plunging to a low of $0.0180 over the next 24 hours. The price closed at $0.0190 on October 11 at 12:00 ET. The total traded volume reached 283.7 million FLM, with a notional turnover of approximately $5.67 million over the period, indicating intense selling pressure during the sharp drop below $0.020.

Structure & Formations

The 15-minute OHLC data reveals a strong bearish trend from around 19:30 ET on October 10, where price collapsed from $0.0234 to as low as $0.0200 within a few hours. A notable bearish engulfing pattern formed at the beginning of this move, with a long red candle following a small bullish candle. Key support levels were identified at $0.0180 and $0.0175, both of which were broken with strong volume. A possible rebound may occur at the $0.0190–0.0195 resistance zone, where price has shown minor consolidation in the last few hours.

Moving Averages and MACD/RSI

On the 15-minute chart, the 20-period and 50-period SMAs are currently bearish, with the price well below both. The 50-period SMA sits around $0.0194, and the 20-period SMA is lower at $0.0191, suggesting continued downward bias. The MACD line has been negative for most of the session, confirming the bearish momentum. The RSI has dropped to the 30–35 range, indicating an oversold condition that may attract short-covering or buying interest in the near term.

Bollinger Bands and Volatility

Bollinger Bands have expanded significantly following the sharp price drop, with the lower band touching the $0.0180–0.0175 range. Price has spent much of the last 6 hours bouncing off the lower band, indicating a possible floor to further declines. The upper band is currently around $0.0195–0.0198, where price may encounter resistance. This wide range suggests heightened volatility and uncertainty in the market, with large swings in sentiment.

Volume and Turnover Analysis

Volume spiked sharply during the sell-off, particularly during the candle that closed at $0.0200 on October 10 at 21:00 ET. This candle had a massive volume of 6.899 million FLM, confirming the bearish breakout below $0.021. However, in the subsequent hours, volume has decreased despite continued price declines, suggesting that the initial panic selling may be easing. The notional turnover has remained elevated, with the $0.0180–0.0190 range seeing consistent volume, indicating a possible base-forming phase.

Fibonacci Retracements

Applying Fibonacci retracement to the key swing from $0.0244 to $0.0180, the 38.2% level is at $0.0213, and the 61.8% level is at $0.0193. Price has recently tested the 61.8% level and appears to be consolidating near it. If price rebounds from this level, it could suggest a temporary pause in the bearish momentum. However, if the 61.8% level fails, the next target may be the 50% retracement at $0.0212. Traders may watch these levels closely for potential reversal signals.

Backtest Hypothesis

A potential backtesting strategy could involve identifying key Fibonacci retracement levels during strong bearish moves and entering a long position near the 61.8% level, with a stop-loss below the 50% level and a target near the 78.6% retracement. This approach would require confirmation from RSI and MACD to avoid false breakouts. Given the current consolidation near $0.0193, a backtest could explore whether such a setup has historically produced positive risk-reward ratios during similar bearish corrections in small-cap altcoins.