Market Overview for FTX Token/Tether (FTTUSDT): 2025-09-18

• FTT/USDT rose 22.4% over 24 hours, reaching a high of $0.8326 amid increased volume.
• A bullish breakout above key resistance at $0.8165 was confirmed by strong volume and momentum.
• MACD and RSI show overbought conditions, suggesting potential near-term consolidation.
• Volatility expanded significantly following a Bollinger Band squeeze in the early morning.
• Recent Fibonacci levels at $0.814–$0.826 now act as critical support and resistance.

Opening Summary

FTX Token/Tether (FTTUSDT) opened at $0.7940 on 2025-09-17 at 12:00 ET and closed at $0.8155 on 2025-09-18 at 12:00 ET. The pair reached a high of $0.8326 and a low of $0.7878 over the past 24 hours, registering a gain of 22.4%. Total volume amounted to 459,290.66, and total turnover (notional value) was $365,425.64.

Structure & Formations

The 15-minute chart displayed a strong bullish reversal after a consolidation phase, with a clear breakout above the $0.8165 resistance. This level, previously acting as a ceiling for several hours, was decisively breached with confirmation candlesticks and increased volume. A bullish engulfing pattern emerged around 19:00 ET, followed by a higher high and a higher close. On the downside, $0.8097 and $0.7981 appear to be strong support levels, both tested and held multiple times.

A key doji appeared around 05:15 ET, indicating indecision after a strong move up, and could serve as a potential reversal zone if price revisits it.

Technical Indicators

MACD crossed above the signal line with strong positive divergence, reflecting growing bullish momentum. RSI approached overbought territory, reaching 73 at the high, suggesting a possible pullback in the short term. Bollinger Bands widened significantly after a tight consolidation phase, indicating a shift in volatility and confirming the breakout.

On the daily chart, the 50-period moving average is trending upward, now intersecting with the 200-period line, suggesting a potential golden cross. The price is currently trading above both the 50 and 200-day MAs, reinforcing a bullish bias.

Volume & Turnover

Trading volume spiked sharply at key breakout moments, especially around 20:00 ET and 02:15 ET. These surges were accompanied by significant price moves, indicating strong participation and confirmation. The total notional value (turnover) also mirrored these spikes, aligning with price direction. However, in the late morning (09:15–10:30 ET), a divergence between price and volume was observed, suggesting potential exhaustion after the upward thrust.

Fibonacci Retracements

Applying Fibonacci retracements to the key 15-minute move from $0.7878 to $0.8326, the 61.8% retracement level is at $0.8140, which is currently acting as support. The 38.2% retracement sits at $0.8097, a level that has already shown strength. On the daily chart, the 61.8% level for the broader trend is at $0.8180, aligning with a recent high, suggesting a potential consolidation area.

Backtest Hypothesis

A possible backtesting strategy involves entering long positions on a confirmed break of key Fibonacci levels ($0.8140 or $0.8097) with a stop loss just below the previous swing low. The setup would aim to capture momentum driven by the breakout, supported by RSI and MACD divergence. A target range of $0.8180–$0.8260 is suggested, with exits upon reaching resistance or when RSI enters overbought territory again. This approach leverages the technical structure identified and aligns with the observed volatility and volume behavior.