Market Overview for FTX Token/Tether (FTT/USDT) on 2025-09-26

• FTT/USDT traded lower from a 0.9472 high to 0.8701, amid increased volatility and mixed momentum signals.
• Price found key support near 0.87, where it consolidated after a sharp intraday pullback.
• Volume spiked during the rally to 0.9472, suggesting heightened interest in short-term reversals.
• RSI signaled overbought conditions at the peak but oversold at the low, indicating potential for a bounce.
• MACD confirmed divergence in momentum during the selloff, hinting at potential bearish exhaustion.

Opening and Price Range

At 12:00 ET–1, FTT/USDT opened at 0.8897, reached an intraday high of 0.9472, and a low of 0.860, closing at 0.8809 by 12:00 ET. Total volume for the 24-hour period was 3,811,729.48 FTT, with a notional turnover of approximately $3,394,822 (assuming USDT price of $1). Price appears to have bounced off a critical support level near 0.87, with bearish momentum easing slightly.

Structure and Candlestick Patterns

The 24-hour chart displayed a strong bearish reversal pattern, starting from the intraday high of 0.9472. A long bearish candle at 13:30 ET–1 (0.9296) was followed by a long-bodied bearish candle at 14:15 ET–1 (0.9356), indicating continued selling pressure. A large bearish candle at 14:30 ET–1 (0.9261) showed aggressive unloading of long positions. Later in the session, a long bullish candle at 15:45 ET–1 (0.931) signaled short-covering and potential accumulation near key support. A bullish engulfing pattern appeared at 16:00 ET–1 (0.9439), suggesting a possible short-term rebound.

Technical Indicators and Volatility

MACD turned bearish during the initial selloff, with a strong bearish crossover. RSI moved into overbought territory at the peak (94.72) and oversold territory at the low (86.00), indicating potential for a bounce. Bollinger Bands showed a noticeable expansion during the selloff, with price bottoming at the lower band (0.860). Volatility increased sharply in the afternoon and evening sessions, particularly after the 13:30 ET–1 high. Volume confirmed the sell-off in the early hours, with a massive spike at the 13:30 ET–1 candle, but diverged slightly during the afternoon rally, suggesting mixed sentiment.

Backtest Hypothesis

Based on the observed bearish engulfing and bullish engulfing patterns, a potential backtesting strategy could involve shorting at the top of the 0.9472 high with a stop-loss above the 0.9500 level and a take-profit target near the 0.8800 support. Conversely, long entries could be initiated on bullish confirmation near the 0.8700 level, targeting a move back toward the 0.9000–0.9200 range. The use of RSI divergence and MACD confirmation would enhance the strategy’s accuracy, especially in a volatile and range-bound market.