Market Overview for FTX Token/Tether (FTTUSDT)

Summary
• Price dropped to a 24-hour low of 0.7401 before staging a partial recovery.
• RSI approached oversold territory, indicating potential for a near-term bounce.
• Volume surged during the decline, highlighting significant bearish conviction.
• Bollinger Bands show a widening, indicating increased volatility.
• Momentum remains bearish but may pause at key support levels.

Opening and Closing Summary

FTX Token/Tether (FTTUSDT) opened at 0.7876 on 2025-11-11 at 17:00 ET and closed at 0.7670 on 2025-11-12 at 12:00 ET. The pair reached a high of 0.7876 and a low of 0.7401 during the 24-hour period. Total volume was 386,744.83, with notional turnover amounting to $296,457.65.

Structure & Formations

Price action showed a distinct bearish bias over the 24-hour window, with a long bearish candle forming during the 15-minute chart at 21:00 ET–21:15 ET on 2025-11-11. A key support level appears near 0.7401 (the 24-hour low), which could offer a potential floor for further bearish action. A doji-like pattern formed near 0.7550, signaling indecision and a potential reversal point.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages (20SMA and 50SMA) have diverged significantly, with the 20SMA dipping below the 50SMA, reinforcing the bearish momentum. On the daily chart, FTTUSDT appears to be below both the 50DMA and 100DMA, suggesting that the medium-term trend is bearish, with the 200DMA acting as a potential key long-term support level.

MACD & RSI

The MACD has been in negative territory throughout the day, with a bearish crossover evident during the session. The RSI dropped to 28, nearing oversold levels, indicating that FTTUSDT may be due for a short-term bounce. However, the histogram remains bearish, suggesting that the underlying momentum remains on the downside.

Bollinger Bands

Bollinger Bands have expanded significantly, reflecting increased volatility, particularly during the bearish phase at 21:00–21:15 ET. Price briefly dipped below the lower band, reinforcing the strength of the sell-off. The bands are currently wide, indicating that the market is not in a consolidation phase but in a trending bearish move.

Volume & Turnover

Volume spiked sharply during the 21:00–21:15 ET session on 2025-11-11, with over 48,412.72 volume traded at a price of 0.7449. Notional turnover surged in line with the volume spike, confirming the bearish momentum. The divergence between volume and price recovery in the latter part of the 24-hour window suggests that the bounce may lack conviction.

Fibonacci Retracements

Applying Fibonacci retracements to the 24-hour move from 0.7876 (high) to 0.7401 (low), key levels appear at 0.7572 (38.2%) and 0.7621 (50%), both of which were tested during the session. These levels could serve as potential resistance levels if the price bounces from the 0.7401 support. The 0.7683 level remains a psychological resistance point from earlier in the session.

Backtest Hypothesis

The technical conditions observed today—particularly the RSI reaching near-oversold levels—provide a compelling backdrop for a potential RSI-oversold strategy. Assuming the proposed parameters (entry after RSI < 30, exit when RSI ≥ 50 or 15 calendar days, no stop-loss), this pair might offer a viable short-term entry opportunity. The 0.7401 level is a key floor to monitor, and a rebound above 0.7621 could confirm a short-term reversal and support the strategy. Further testing of the strategy over historical data is recommended.