Market Overview for VeChain/Tether (VETUSDT)

Summary
• Price formed a bullish engulfing pattern near 0.01045, followed by a sharp rally to 0.01085.
• RSI showed overbought conditions after 0.0108, hinting at potential near-term pullback.
• Volume spiked during the 22:45–00:00 ET rally, confirming bullish momentum.

At 12:00 ET on 2025-12-16, VeChain/Tether (VETUSDT) opened at 0.01057, reached a high of 0.01097, hit a low of 0.01043, and closed at 0.0109. Total volume was 213,872,984.8 and turnover amounted to approximately $2,281,681, showing strong participation during the late-night rally.

Structure and Candlestick Formations

A engulfing pattern formed at 0.01045, marking a key turning point. This was followed by a wave of higher highs, with price reaching a 24-hour peak near 0.01085. A long-bodied bullish candle at 0.01083 suggested strong buying pressure. However, a bearish divergence in volume during the 03:45–05:00 ET consolidation hinted at weakening momentum.

Momentum and Indicators

RSI surged past 70 in the final hours, indicating overbought territory. MACD showed a positive crossover earlier in the session but flattened near the peak, suggesting potential exhaustion. The 20-period and 50-period moving averages on the 5-minute chart were closely aligned and trending upward, offering immediate support near 0.01075.

Volatility and Volume

Bollinger Bands widened during the 22:45–00:00 ET rally, reflecting rising volatility. Price traded above the upper band for a brief period, which could act as a near-term resistance. Volume spiked significantly during the upward move but began to taper as price approached 0.01085, suggesting a potential pause or correction.

Key Levels and Fibonacci Retracement

Support levels were identified at 0.01075 (50% retracement), 0.0106 (61.8% retracement), and 0.01045 (major swing low). Resistance levels are seen near 0.01085 (recent peak) and 0.01093 (upper Bollinger Band).

In the next 24 hours, price may consolidate near 0.0108–0.01085 before testing the 0.01097 high. A break above 0.01097 could signal renewed bullish momentum, while a retest of 0.01075 may trigger short-term volatility. Investors should remain cautious of potential overbought conditions and possible profit-taking.