Market Overview for FTX Token/Tether (FTTUSDT)

Summary
• Price swung sharply lower after 19:00 ET before rebounding into a consolidation phase.
• A large bearish candle broke key support, followed by mixed follow-through selling.
• RSI signaled oversold conditions by late ET, but volume remained weak.
• Bollinger Bands showed expansion, highlighting increased volatility.
• Volume surged at the session low, hinting at accumulation or panic selling.

At 12:00 ET on 2026-01-09, FTX Token/Tether (FTTUSDT) opened at 0.5132, reached a high of 0.5160, a low of 0.4933, and closed at 0.5015. The 24-hour notional turnover was approximately $316,199.49, with a total trading volume of 685,088.34.

Structure & Formations

Price tested key support levels around 0.5000–0.5050 multiple times, forming a bearish breakdown pattern after the 19:00 ET candle. A large bearish 5-minute candle (2026-01-08 19:00 ET) closed at 0.5051 with a high of 0.5154, indicating strong bearish sentiment. A doji formed near 0.5050 later in the session, hinting at potential reversal or exhaustion.

Moving Averages

On the 5-minute chart, price closed below the 20 and 50-period moving averages by session end, indicating bearish bias. The 200-period daily moving average remains a critical level to monitor in the near future.

Momentum & Volatility

RSI dipped below 30 by early morning, signaling oversold conditions, but lacked strong bullish follow-through. MACD showed a bearish crossover, with a declining histogram. Bollinger Bands expanded significantly during the sell-off, reflecting heightened volatility.

Volume & Turnover

Volume spiked during the initial breakdown at 19:00 ET, with a large 5-minute turnover of $55,638.93. However, subsequent volume remained subdued during the rebound, suggesting limited follow-through buying.

Fibonacci Retracements

A 61.8% retracement of the 19:00–23:45 ET decline (~0.5010–0.5050) aligned with the late-session consolidation, indicating possible short-term equilibrium.

Price appears to be testing the lower end of a volatile trading range, with a potential bounce from key support. However, without strong volume confirmation, any rebound could be short-lived. Investors should watch for a close above 0.5045 for short-term optimism or a retest of 0.4990 as a bearish signal. Risk remains skewed to the downside in the near term.