Market Overview for FLOKI/Tether (FLOKIUSDT) on 2025-09-18

• FLOKI/Tether rose from $0.00009581 to $0.00010198, gaining 6.44% over 24 hours
• Price formed bullish continuation patterns in the late NY session with strong volume
• Volatility expanded as price pushed above key resistance at $0.000101
• RSI surged into overbought territory, while volume continued to confirm the upward bias
• Bollinger Bands expanded, indicating a breakout phase with increased market participation

FLOKI/Tether (FLOKIUSDT) opened at $0.00009581 on 2025-09-17 at 12:00 ET and closed at $0.00010198 the following day. The pair reached a high of $0.00010299 and a low of $0.00009512, with a total volume of 88,859,601,376.0 and notional turnover of $8,941.58 over the 24-hour period. The price displayed a clear bullish bias, supported by strong volume and price continuity into the early morning hours.

The 20-period and 50-period moving averages on the 15-minute chart remained below the price, confirming an upward trend. A key support level formed near $0.0000998, which held during early sell-offs but was later retested and bounced off. A notable bullish engulfing pattern emerged at $0.00010108 and $0.0001016, confirming the resumption of the bullish trend. Additionally, a small bearish doji appeared near $0.0001018 after a late session breakout, indicating potential profit-taking or a pause in momentum.

MACD crossed above the signal line, with both lines rising toward overbought territory. The histogram expanded during the late NY session, reinforcing bullish momentum. The RSI surged to 75 by the end of the session, signaling overbought conditions. However, the price continued higher, suggesting strong conviction among buyers. Bollinger Bands widened significantly in the afternoon, indicating heightened volatility. Price closed near the upper band, reinforcing the breakout narrative.

Volume and turnover spiked in the late NY session, particularly during the formation of the bullish engulfing pattern. Notional turnover exceeded $1,000 during the 01:00–03:00 ET period, confirming strong participation. Price and volume aligned well during the breakout, but a divergence in RSI and price at the end of the session may hint at near-term consolidation.

Fibonacci retracements drawn from the $0.00009512 low to the $0.00010299 high showed key levels at 38.2% ($0.00009834) and 61.8% ($0.00010016). The price stalled briefly near the 61.8% level before surging higher, indicating strong buying pressure. The 50% retracement level at $0.00009906 acted as a minor support, while the 78.6% retracement at $0.00010176 became a psychological resistance.

Backtest Hypothesis

The suggested backtesting strategy involves entering a long position on a bullish engulfing pattern when the close exceeds the high of the previous candle and is confirmed by a volume spike. A stop-loss is placed below the low of the engulfing pattern, and a take-profit is set at 1.5 times the risk level. The RSI must be above 50 to ensure bullish momentum is intact. This approach aligns well with the recent FLOKIUSDT price action, particularly at $0.00010108 and $0.0001016. Given the strong volume confirmation and overbought RSI, the signal appears valid, though caution is advised as overbought levels often precede pullbacks.

FLOKI/Tether appears to be in a breakout phase, supported by volume, price action, and technical indicators. While the overbought RSI and bearish doji suggest caution, the overall bias remains to the upside. A retest of the $0.00010176 resistance or a pullback to the $0.0001008–$0.0001010 consolidation zone could offer high-probability entries for further longs. However, traders should monitor for a breakdown below the $0.0000998 support level, which could trigger a short-term correction.