FTX Token/Tether (FTTUSDT) 24-Hour Market Overview

• FTT/USDT fell 2.7% over the last 24 hours amid rising bearish momentum and a breakdown below key support.
• Volatility expanded after a sharp drop from $0.94 to $0.89, with a notable volume spike at the 0.90–0.91 level.
• RSI approached oversold territory, and a bullish engulfing pattern emerged near 0.90, suggesting a potential rebound.
• Price is now consolidating near 0.908–0.910, with 0.9108 and 0.9038 acting as key resistance and support, respectively.
• A divergence between price and turnover suggests caution, with large volume but limited price response in the final hours.

Price and Volume Summary

FTT/USDT opened at $0.9197 on 2025-09-26 12:00 ET, peaked at $0.9439, and closed at $0.9087 at 2025-09-27 12:00 ET. Total 24-hour trading volume reached 964,671.88 FTT, with a notional turnover of $870,037.12. The price action shows a bearish bias with increased volatility and a key consolidation phase emerging in the final hours.

Structure & Formations

The price has formed a significant bearish breakdown pattern as it fell below the 0.92–0.93 support zone and tested the 0.90–0.91 level. A bullish engulfing candle formed near 0.90–0.91, suggesting a potential short-term rebound. A doji candle appeared at 0.9043–0.9043, signaling indecision and a potential reversal. Immediate support is now at 0.9038, with resistance at 0.9108.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are bearish, both trending downward. Price closed below both in the final hours. On the daily chart, the 50/100/200 EMA lines show a bearish alignment, reinforcing the downtrend. A break above the 50 EMA may signal short-term bullish momentum but remains unlikely without a reversal in the 15-minute timeframe.

MACD & RSI

The RSI approached oversold territory at 27.5, suggesting a potential bounce from the 0.90–0.91 level. The MACD line turned negative, and the histogram continues to widen, indicating bearish momentum remains intact. A reversal in MACD or RSI could signal a short-term bounce but is unlikely to reverse the broader bearish bias without a strong volume spike.

Bollinger Bands

The price has broken below the lower Bollinger Band in the 0.90–0.91 range, indicating heightened volatility and bearish momentum. The bands are currently wide, showing increased market uncertainty. Price is now consolidating in a narrow range near the middle band at 0.908–0.910, with a possible rebound expected if it holds within the bands.

Volume & Turnover

Volume spiked during the 2025-09-26 20:30–21:30 window, coinciding with the breakdown from the 0.92–0.93 support. Final-hour volume was relatively low, with price consolidation near 0.90–0.91. Notional turnover shows a divergence from price action in the final hours, indicating weaker conviction in the current move. A higher-than-usual volume on a rebound may confirm a reversal.

Fibonacci Retracements

The 61.8% Fibonacci level is currently at 0.904–0.906, acting as a potential support zone. The 38.2% level is at 0.911–0.912, which could act as a resistance if the price bounces. On a daily chart, the 61.8% retracement is near 0.909, which aligns with the recent consolidation. A break above this level may trigger a short-term reversal.

Backtest Hypothesis

A potential backtest strategy could involve using a combination of RSI divergence and bullish engulfing patterns as entry triggers, with a stop-loss placed below 0.9038 and a take-profit near 0.9108. Given the current conditions, this setup may work in volatile markets where price has shown a bearish trend but signs of consolidation or reversal. The low volume in the final hours suggests a high probability of a bounce, but confirmation is needed before entering long positions.