Market Overview for FTX Token/Tether (FTTUSDT) on 2025-09-24

• FTT/USDT surged from 0.82 to 1.2956, driven by a massive 23:45 candle with 3.18M volume.
• Momentum accelerated after 00:00 ET with a 1.08–1.23 range, showing strong bullish momentum via RSI and MACD.
• Price retested 1.03–1.07 before consolidating, with Bollinger Bands expanding after the 00:00 breakout.
• Volume spiked dramatically on the 23:45 candle, aligning with price, but later waned as the pair cooled off.
• Recent Fibonacci levels (61.8% at ~1.13) and key support/resistance zones (1.05–1.09) are now critical for near-term direction.

24-Hour Summary

At 12:00 ET-1 on 2025-09-23, FTX Token/Tether (FTTUSDT) opened at 0.82, reached a high of 1.2956, and closed at 0.997 at 12:00 ET. Total volume over 24 hours was 43,512,959.30, with a notional turnover of 35,347,970.91 USD. Price surged sharply overnight, then pulled back into a consolidative phase during daylight hours.

Structure and Key Levels

The overnight session revealed a powerful bullish breakout starting at 23:45 ET, where FTT/USDT spiked from 0.8213 to 1.1474, forming a long white candle. This was followed by a high at 1.2956 on the first bar of the new day.

Key support levels now appear at 0.99–1.01, with the 20-period moving average (15-min) sitting near 0.995, reinforcing this zone. A critical Fibonacci 61.8% retracement level of the overnight move is located at 1.13, and price has tested this multiple times.

A bearish engulfing pattern formed at 03:00 ET (close at 0.967) after the 03:15 bar opened at 0.9705 and closed at 0.9794, suggesting short-term bearish momentum. A doji at 09:45 ET may indicate indecision as the price settled around 0.9906.

Moving Averages and Trend

The 20-period (15-min) MA crossed above the 50-period to form a bullish crossover early in the morning, reinforcing short-term bullish momentum. On the daily chart, the 50-period MA sits at 0.92, with the 200-period MA at 0.83, indicating a potential medium-term bullish divergence.

Price closed above the 50-period MA on the daily chart, which could signal a reversal from bearish to neutral in the medium term.

Momentum and Volatility

RSI surged above 70 during the early morning hours (00:15–01:15) before dropping sharply, suggesting overbought conditions were followed by profit-taking. MACD turned positive during the breakout and remained above the signal line through 04:00 before diverging.

Bollinger Bands showed a strong expansion overnight, especially around the 00:00–01:00 window, with price moving outside the upper band at 1.2349. This suggests increased volatility. By midday, the bands had contracted slightly, suggesting a potential consolidation phase is forming.

Volume on the 23:45–00:00 bar was disproportionately large (3.18M) compared to the rest of the day, which suggests strong participation from large players or algorithmic trading.

Volume and Turnover

Volume spiked dramatically during the 23:45–00:00 candle, with a notional turnover of ~3.18M USD on that single bar. This was followed by a steady decline in volume through the morning, as price pulled back from 1.2956 to 0.997.

The volume profile suggests strong conviction during the breakout but weaker follow-through after the high was established. This could indicate either a distribution phase or profit-taking by early buyers.

Fibonacci and Key Retracements

The most significant swing is from 0.8213 to 1.2956, with key retracement levels at 38.2% (~1.10) and 61.8% (~1.13). Price has bounced and retested these levels multiple times during the consolidation phase, with the 61.8% level showing strong resistance.

Backtest Hypothesis

Given the strong initial breakout and subsequent consolidation, a backtest could simulate a breakout-and-retest strategy. A long entry could be triggered at a retest of the 61.8% Fibonacci level (~1.13), with a stop loss below the recent low (~0.99). A target could be set at the 38.2% level (~1.10), and a trailing stop could be added after the price moves above the 1.13 handle.

This hypothesis aligns with the observed structure: a strong breakout, a consolidation phase at key retracement levels, and a potential continuation if the 1.13 support holds.