No. iFaith creates a blob for the currently working iDevice + iOS version.
Since your iDevice is on 4.3.5, if iFaith supported 4.3.5 (which it doesn't), it would be for that version.
Without SHSH blobs, no downgrades are possible.
Currently Apple is providing blobs for iOS 4.1 (and the latest) on 3G and 3GS iPhones.
What iDevice do you have?