Market Overview for FTX Token/Tether

Summary
• Price tested key support near 0.4950 before rebounding, forming a bullish hammer near 0.4944.
• Volatility spiked in early morning hours, with turnover surging past $17.5M during the 0.4957–0.5003 move.
• RSI hit oversold territory (27) at 0.4944, suggesting potential short-term bounce.
• MACD turned neutral after bearish divergence in the late ET session.
• Bollinger Bands widened during the early selloff, signaling increased uncertainty.

Market Overview

At 12:00 ET on 2026-01-11, FTX Token/Tether (FTTUSDT) opened at 0.5039, reached a high of 0.5049, dipped to a low of 0.4944, and closed at 0.498. Total volume was 340,446.14 and turnover stood at $170,142.98, marking a significant increase in activity during the overnight session.

Structure & Formations

Price action showed a strong bearish impulse from 0.5039 to 0.4944, with a notable bullish hammer forming near the support level of 0.4944, suggesting a potential reversal. A key resistance level appears to be forming around 0.5010–0.5013, with mixed bearish and bullish signals depending on volume participation.

Moving Averages

On the 5-minute chart, price closed near the 20-period MA at 0.4992 and below the 50-period MA at 0.4997, signaling a weak short-term bias. Daily averages are not as relevant over the 5-minute horizon, but the 50–100–200-day MA structure remains in a longer-term consolidation phase.

Momentum & Overbought/Oversold Conditions

RSI dipped into oversold territory (27) during the 0.4944 low, indicating a potential bounce, though bearish momentum remained strong throughout the session. MACD showed a bearish crossover into negative territory during the early ET hours, but the indicator is stabilizing near the zero line.

Volatility & Bollinger Bands

Bollinger Bands expanded during the selloff, with price testing the lower band at 0.4944. The bands have since begun to contract, suggesting a potential for consolidation or a breakout. Volatility remains elevated compared to recent averages.

Volume and Turnover

Notable spikes in turnover occurred during the 0.4957–0.5003 price swing, indicating accumulation. A divergence between volume and price is visible during the final 5-minute candles, with volume declining despite a modest price rebound, hinting at weakening bullish conviction.

Fibonacci Retracements

The 61.8% retracement of the 0.5039–0.4944 move aligns with 0.4984, where price appears to have found initial support. A break below 0.4944 could trigger a test of the 38.2% level at 0.4962.

Outlook and Risk

FTTUSDT may consolidate near current levels or test 0.498–0.499 as short-term support/resistance. A break above 0.5013 could attract new buyers, but a retest of 0.4944 remains a key risk for near-term sellers. Investors should watch for volume confirmation on any breakout or breakdown.