Market Overview: Venus/Tether (XVSUSDT) – 24-Hour Candlestick Analysis

• XVSUSDT traded in a 24-hour range of $6.34–$6.88, closing near $6.77 after a strong morning rally.
• A key support at $6.40 and resistance at $6.75 defined the session, with a bullish breakout above $6.70 in late morning.
• Volume surged 205% during the $6.60–$6.80 move, confirming price strength with no clear divergence.
• RSI approached overbought territory in the morning, suggesting short-term momentum may ease.
• Volatility expanded during the bullish push, with Bollinger Bands widening as the price trend accelerated.

The 24-hour session for Venus/Tether (XVSUSDT) saw a notable bullish shift, opening at $6.41 (12:00 ET–1), reaching a high of $6.88, a low of $6.34, and closing at $6.77 (12:00 ET). Total volume amounted to approximately 159,048.61, while turnover reached $1,063,828.72. The price action reflected a bearish start, testing support at $6.40, followed by a strong reversal and accumulation above $6.60, culminating in a sharp push toward $6.88.

Key technical features include a strong bullish engulfing pattern forming during the 6:30–7:00 ET window, confirming the reversal. A significant support at $6.40 appears reinforced by volume, while the price tested resistance at $6.75 twice before breaking out. A morning doji around $6.55 suggested indecision, but was quickly overcome by increased volume and higher highs.

The 20-period and 50-period moving averages on the 15-minute chart crossed positively in the 6:00–7:30 ET window, confirming the trend shift. RSI approached 70 near the close of the morning session, indicating overbought conditions. MACD showed a strong bullish crossover around 6:45 ET, with the histogram expanding through the morning. Bollinger Bands expanded during the bullish phase, and the price remained above the 20-period MA, indicating strong momentum.

Fibonacci retracements on the $6.34–$6.88 swing showed the price closing near the 61.8% level, suggesting the move could continue to test $6.95 if the trend holds. On the daily chart, the 50-period MA at $6.52 and 200-period MA at $6.39 suggest the current rally is outperforming long-term trends. Volume and turnover moved in sync with price, with no signs of divergence, which supports the strength of the bullish move.

In the next 24 hours, XVSUSDT could consolidate or test the $6.80–$6.85 range, with a risk of a pullback to $6.60–$6.65 if short-term overbought conditions trigger profit-taking. Investors should monitor the $6.70 level as a critical support/resistance zone, and watch for any divergence in volume or RSI to signal trend fatigue.

Backtest Hypothesis
The backtesting strategy involves a 15-minute time frame, using a golden cross (20 MA crossing above 50 MA) as an entry trigger, with a stop-loss below the previous swing low and a take-profit at the 61.8% Fibonacci level of the recent swing. This aligns with the observed bullish crossover and Fibonacci retracement behavior. A potential exit signal may be a bearish divergence in RSI or a close below the 50-period MA. The strategy appears viable in the current context, provided volume remains aligned with price direction.