Market Overview: Flow/Tether (FLOWUSDT) Daily Price Action

• FLOWUSDT declined by ~2.5% over the last 24 hours, breaking below key support levels.
• Price action shows signs of bearish momentum with a sharp drop during mid-Atlantic trading hours.
• Volatility expanded during the 21:30–23:45 ET window, with volume spiking on the downside.
• RSI and MACD both bearish, indicating overbought conditions reversed into oversold territory.
• Bollinger Bands show price sitting near the lower band, reinforcing a potential near-term rebound.

The Flow/Tether (FLOWUSDT) pair opened at $0.347 on 2025-10-10 at 12:00 ET and closed at $0.279 as of 2025-10-11 at 12:00 ET. The 24-hour range was between $0.35 (high) and $0.274 (low). Total traded volume amounted to 10,581,495.62 FLOW, with a notional turnover of approximately $2.91 million. The price has shown significant bearish bias, particularly during the 19:30–22:30 ET window when volume spiked and a sharp sell-off occurred.

Structure and key formations reveal a notable breakdown from the 0.34–0.347 resistance cluster. The candlestick pattern formed during the 19:30–21:30 ET time window resembles a bearish continuation pattern—specifically a hanging man and bearish engulfing candle—confirming downward pressure. Notable support levels currently appear at $0.274–0.276 and $0.269–0.272, while the key psychological level of $0.25 is now within potential reach if the downward trend continues. A bearish doji formed around 0.275–0.277 during the 14:30–15:45 ET window, indicating indecision after a period of aggressive selling.

The 15-minute chart shows the price below both the 20-period and 50-period moving averages, confirming the short-term bearish bias. The daily chart has the price well below the 50, 100, and 200-day moving averages, reinforcing the broader downtrend. The MACD has turned negative and is trending downward, indicating weakening bullish momentum. The RSI is in oversold territory at ~29, which could suggest a short-term rebound, but lacks confirmation from price action for a reversal.

Bollinger Bands have widened significantly during the 21:30–23:45 ET window, reflecting increased volatility. Currently, the price is near the lower band at $0.274–0.276, which may act as a temporary floor or trigger a bounce if traders look to capitalize on the oversold condition. Volatility may contract again as the price moves closer to a new equilibrium unless further catalysts emerge.

Fibonacci retracement levels from the recent 0.347–0.274 swing show 38.2% at $0.315 and 61.8% at $0.285. The price currently resides just below the 61.8% level, which may serve as a short-term resistance if a bounce materializes. The daily swing from 0.35 to 0.274 also shows key retracements that traders are likely watching for potential retests of prior levels.

Backtest Hypothesis
A backtest strategy could be constructed based on the bearish engulfing patterns observed during the 19:30–21:30 ET window and the RSI entering oversold territory. A potential approach would be to short FLOWUSDT when a bearish engulfing pattern forms on the 15-minute chart, confirmed by a close below the 50-period MA and RSI below 30. A stop-loss could be placed above the 61.8% Fibonacci retracement at $0.285, with a target near the 0.25–0.26 support zone. This strategy would aim to capture short-term bearish momentum while managing risk through defined exits and stops.