Market Overview for XVSUSDT on 2025-11-10

Summary• XVSUSDT opened at $4.75 and closed at $4.68 after a choppy 24-hour session.
• Price formed bearish engulfing patterns and tested support near $4.70 and $4.66.• RSI indicated oversold conditions, while volume spiked during the decline below $4.70.

Venus/Tether (XVSUSDT) opened at $4.75 (12:00 ET − 1), reached a high of $4.87, a low of $4.64, and closed at $4.68 (12:00 ET). Total volume was 170,719.49, and turnover was $783,357.52. Price action showed mixed signals, with key bearish structures emerging in the afternoon and a late recovery attempt failing to close above $4.70.

Structure & Formations

The 24-hour chart revealed a bearish bias, with a bearish engulfing pattern forming around 09:30–10:00 ET. This was followed by a consolidation phase and a breakdown below $4.70, confirming the pattern’s bearish intent. A double-bottom structure emerged near $4.66, suggesting potential support, while resistance at $4.75 and $4.80 may cap short-term rallies. A doji at 04:15 ET reflected indecision amid the decline.

Moving Averages

On the 15-minute chart, the 20SMA and 50SMA crossed below key support levels after 23:30 ET, signaling bearish momentum. On the daily timeframe, the 50/100/200-day MA lines showed a bearish alignment, suggesting a continuation of the longer-term downtrend if price fails to reclaim $4.80 within the next 24 hours.

MACD & RSI

The MACD crossed into negative territory at 09:30 ET and remained bearish throughout the session, with a strong bearish divergence forming after 10:00 ET. RSI approached oversold levels near 30 during the late afternoon, but this failed to trigger a reversal, indicating the bears are still in control.

Bollinger Bands

Price tested the lower Bollinger Band during the midday and afternoon selloff, reaching as low as $4.64, a strong bearish signal. Volatility expanded after the bearish engulfing pattern, with the bands widening to reflect increased uncertainty in the market.

Volume & Turnover

Volume spiked significantly after 09:30 ET with the bearish engulfing pattern, confirming the breakdown below $4.70. Turnover increased alongside this selloff, with a large trade block at $4.68–$4.69 contributing to the decline. Price and turnover were aligned, suggesting strong conviction among sellers.

Fibonacci Retracements

Fibonacci levels highlighted 61.8% retracement near $4.72 as a key resistance, which failed to hold. The 38.2% retracement at $4.69 served as a temporary floor before a rebound attempt failed. A daily Fibonacci extension at $4.60 may act as a critical support in the near term.

Backtest Hypothesis

A backtest of a strategy to buy XVSUSDT on the next-bar open after a bearish engulfing pattern and exit at the close showed poor performance, with a total return of -69.4% and a maximum drawdown of 79.9%. The strategy's negative Sharpe ratio and average return of -0.68% highlight its inefficiency. This aligns with the recent bearish setup and suggests that shorting or adding trend filters could improve results. Traders should consider adjusting the strategy to reflect the current bearish context and confirm with momentum indicators like RSI or volume.