Market Overview for VeChain/Tether (VETUSDT)

Summary
• VETUSDT tested key support and resistance levels with a bearish bias on the 5-minute chart.
• Volume surged during the early hours of the session, confirming bearish momentum.
• RSI and MACD show weakening upward pressure and overbought conditions have reversed.
• Price remains within a tightening Bollinger Band pattern, indicating potential for a breakout.
• A bullish reversal pattern has formed near 0.01046, suggesting a possible short-term rebound.

VeChain/Tether (VETUSDT) opened at 0.01078 on the previous day and closed at 0.0105 at 12:00 ET. During the 24-hour window, the pair traded as high as 0.0108 and as low as 0.01027, with a total volume of 64,974,885.59 and a notional turnover of approximately 6.84 million USD.

Structure & Formations

The 5-minute chart reveals a bearish trend with VETUSDT forming a series of lower highs and lower lows. A notable bearish

engulfing pattern appeared at 0.01055, confirming a shift in momentum. A small doji formed near 0.01046, hinting at indecision and a potential short-term reversal. Key resistance is identified near 0.01055–0.01057, with support levels forming at 0.01046 and 0.01042.

Moving Averages

On the 5-minute chart, the 20 and 50-period moving averages are both sloping downward, reinforcing the bearish tone. The 200-period daily moving average, while not directly visible in the 5-minute chart, provides a long-term context of bearish pressure.

MACD & RSI

The MACD histogram has been declining in the negative territory, showing weakening bearish momentum. RSI reached overbought conditions earlier in the session but has since retreated into neutral to oversold territory, suggesting price may consolidate before resuming its downward trend.

Bollinger Bands

Price activity has been within a tightening Bollinger Band range, particularly in the last 2 hours, indicating low volatility and a potential breakout. If the upper band is tested, it may reinforce bearish momentum, while a close above the lower band could suggest a short-term rebound.

Volume & Turnover

Volume and turnover spiked during the early part of the session when the price broke below key support levels near 0.01055. This confirms bearish conviction, though a divergence later in the session suggests caution as volume dipped despite continued price weakness.

Fibonacci Retracements

On the 5-minute chart, the key 0.01046 level aligns with the 61.8% Fibonacci retracement of the recent rally from 0.01027 to 0.01055. A break below 0.01042 could trigger a test of the 0.01035 level, the next 61.8% retracement of a larger swing.

Price may test the 0.01042 level in the next 24 hours, with the potential for a rebound or further bearish breakdown. Investors should monitor volume levels for confirmation of any reversal signals and be mindful of the risk of a continued bearish bias if key support levels fail to hold.