Market Overview for Flamingo/Tether (FLMUSDT) – October 7, 2025

• Price dropped sharply in early ET, forming a bearish breakdown pattern.
• Volatility surged after 18:00 ET, with sharp intraday range expansion.
• RSI signaled oversold conditions, but bearish momentum persisted.
• Volume spiked during the downtrend, confirming bearish sentiment.
• Price closed below key support at 0.0262, pointing to further downside risk.

Flamingo/Tether (FLMUSDT) opened at 0.0261 (12:00 ET − 1) and hit a high of 0.0266 before declining to a low of 0.0246, closing at 0.0246 by 12:00 ET. Total volume over the 24-hour period reached ~11.86 million, while notional turnover was ~\$305,715. The price action reflects a sharp bearish reversal, particularly after 18:00 ET.

Structure & Formations

The 15-minute chart revealed a bearish breakdown pattern as price moved decisively below key support at 0.0262 and then retested it as resistance. A large bearish engulfing pattern appeared at 0.0265, followed by a long bearish candle with a small upper shadow at 0.0265–0.0262, confirming bearish control. Later, a bearish continuation pattern formed between 0.0257–0.0255. Price appears to be in a short-term bearish channel, with potential for further downside toward 0.0245–0.0244.

Moving Averages

On the 15-minute chart, price closed below both the 20-EMA and 50-EMA, indicating bearish momentum. On the daily chart, FLMUSDT is below the 50-EMA and 200-EMA, reinforcing the bearish bias. The 100-EMA may act as a temporary resistance ahead at ~0.0258–0.0260.

MACD & RSI

The 15-minute MACD turned negative in the late ET hours, with a bearish crossover and a declining histogram. RSI dropped below 30 into oversold territory during the price collapse but failed to trigger a bounce. This suggests a strong bearish sentiment and potential for further downward momentum. However, a failure to break below 0.0244 could offer a minor bounce.

Bollinger Bands

Volatility increased significantly after 18:00 ET, with the Bollinger Bands widening. Price spent the majority of the session near the lower band, indicating bearish pressure. The recent breakdown below the lower band suggests the pair may continue to trade within a tight range or even test the 0.0244–0.0246 zone.

Volume & Turnover

Volume surged during the breakdown phase, particularly between 18:00 ET and 01:00 ET, with several 15-minute candles registering over 400,000 units. Notional turnover followed the same trend, peaking at ~\$7,700 during the 18:15 ET candle. The strong volume confirms bearish conviction and the likelihood of continued selling pressure in the near term.

Fibonacci Retracements

The 15-minute swing high of 0.0265 and low of 0.0246 defined a ~190-point bearish leg. The 61.8% retracement level at 0.0253–0.0254 now acts as a potential area of interest for a minor bounce. On the daily chart, the key Fibonacci levels at 0.0267 and 0.0259 may become critical for near-term price direction.

Backtest Hypothesis

The backtesting strategy in question employs a combination of RSI (14) and 20-EMA to identify bearish setups in volatile crypto pairs. It triggers a short entry when RSI falls below 30 and price closes below the 20-EMA on the 15-minute chart, with a stop-loss placed above the recent swing high. Given the current setup—RSI in oversold territory and price under the 20-EMA—this strategy could find a favorable entry point. However, the low volatility in the morning hours may limit the effectiveness of the signals. Traders using this approach may need to wait for a confirmation candle below key support and a pullback near 0.0246–0.0250 before entering.