Market Overview for FTX Token/Tether (FTTUSDT)

• FTTUSDT surged from 0.65 to 0.7225, forming a bullish rally with a high at 0.7393.
• MACD crossed above zero, signaling growing bullish momentum in the last 6 hours.
• Volatility spiked during the 18:15–21:45 ET period with a 90% price range move.
• RSI remained in overbought levels for the last 3 hours before a pullback.
• Volume was highest during the 21:45–22:00 ET breakout, confirming strong conviction.

Overview and Key Metrics

FTTUSDT opened at 0.65 on 2025-10-11 at 12:00 ET and closed at 0.7202 by 12:00 ET on 2025-10-12. During the 24-hour period, the pair reached a high of 0.7393 and a low of 0.65. Total traded volume amounted to 1.56 million FTT, with a notional turnover of approximately 1.13 million USD.

Structure & Formations

The chart displayed a strong bullish reversal pattern from the 0.65–0.67 consolidation zone, followed by a sharp breakout above 0.70. Key support levels were identified at 0.685 (tested multiple times) and 0.675, both of which acted as temporary floors. Resistance levels emerged at 0.710, 0.725, and 0.7393, the latter being the high from 21:45 ET. A notable morning engulfing pattern at 05:15 ET confirmed the bullish breakout.

Moving Averages and Volatility

On the 15-minute chart, the 20SMA crossed above the 50SMA in the morning session, forming a golden cross. The 50EMA remained above the 100EMA, reinforcing the bullish bias. Volatility, as measured by the Bollinger Bands, showed a contraction during the 18:15–19:45 ET range, followed by an explosive expansion as price broke out above the upper band. Price closed above the 20SMA at 0.719, suggesting a continuation of the upward trend.

Momentum and Oscillators

The MACD (12,26,9) turned positive at 05:00 ET and remained in bullish territory, with a strong histogram divergence in the morning hours. RSI reached overbought levels at 78 during the 05:15–06:30 ET rally before correcting to neutral territory. A 61.8% Fibonacci retracement level at 0.694–0.700 acted as a key pivot, and price held above this zone during the afternoon, suggesting short-term resilience.

Volume and Turnover Analysis

Volume surged during the 18:15–21:45 ET breakout period, with the highest notional turnover of $1.5M at 21:45 ET when price hit 0.7393. However, volume dipped during the 06:00–08:00 ET consolidation phase despite price moving higher, indicating some short-term exhaustion. The volume-to-price relationship suggested strong conviction during the rally but some caution in the latter half of the session.

Backtest Hypothesis

Given the recent bullish breakout and confirmation from moving averages and MACD, a backtesting strategy might involve a long entry at 0.710 with a stop-loss below 0.690 and a target at 0.730–0.750. This aligns with key resistance levels and Fibonacci projections from the 0.65–0.7393 swing. A trailing stop could be triggered above 0.725 to lock in gains if the rally continues. The high volume at 0.7393 also suggests a potential pullback could present a second entry opportunity.