VeChain/Tether Market Overview for 2025-11-10

Summary
• VETUSDT opened at $0.0171, hit $0.01801, and closed at $0.01750 after a volatile 24-hour swing.
• Total volume reached 174,976,297.7, with turnover of $3,047,855.37, showing strong engagement.
• The 20-hour moving average acted as dynamic support, with bullish engulfing patterns forming near resistance.

VeChain/Tether (VETUSDT) opened at $0.0171 at 12:00 ET–1 and closed at $0.01750 at 12:00 ET, reaching a high of $0.01801 and a low of $0.01694. Total volume for the 24-hour period was 174,976,297.7, with notional turnover of $3,047,855.37. The price trend displayed a volatile upward bias driven by strong volume near key resistance levels.

Structure & Formations

The 15-minute chart showed a bullish engulfing pattern forming around $0.0174–$0.0176, confirming a reversal after a prior decline. Key resistance levels at $0.0176 and $0.0178 were tested multiple times, with the price eventually breaking through $0.01784 in the early morning hours. A critical support area emerged at $0.0173–$0.0174, holding firm during two attempted breakouts.

Moving Averages

On the 15-minute chart, the 20-period MA (around $0.01745) provided support, while the 50-period MA (around $0.01755) acted as a dynamic resistance. On the daily chart, the 50-period MA (not explicitly provided in data) likely supported a longer-term bullish bias, with the price above the 200-period MA.

MACD & RSI

The MACD showed a bullish crossover in the early morning, aligning with a breakout above $0.01784. RSI climbed into overbought territory (above 70) around 07:30–08:00 ET, suggesting a potential pullback. A subsequent decline in RSI and diverging price action hinted at short-term exhaustion, though momentum remained positive.

Bollinger Bands

Volatility increased significantly as the price surged from $0.0173 to $0.01801, expanding the Bollinger Bands. The price closed near the upper band ($0.0178) at key breakout points, signaling a continuation of upward momentum, but a retest of the lower band could be expected in the near term.

Volume & Turnover

High-volume surges occurred during key breakouts, particularly between 06:45–08:00 ET and 15:45–16:00 ET, confirming price action. Turnover increased in tandem, with no major divergences between price and volume, indicating strong conviction in the upward move.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing from $0.01694 to $0.01801, the 61.8% level (~$0.01759) acted as a minor support, while the 78.6% extension (~$0.01808) appears to cap the immediate upside. The 38.2% retracement (~$0.01735) held well during pullbacks.

Backtest Hypothesis

The "Bullish Engulfing + Resistance-Break" strategy, with a 1.71% stop-loss, aligns with today's VETUSDT pattern. A bullish engulfing candle formed near the 20-period high, followed by a clear break of $0.01784 resistance. This strategy would have triggered an entry near $0.0176, with a stop-loss at $0.01738 and a target near the next 20-day high. Given today’s execution, such a trade would have captured a significant portion of the upward move. The backtesting module embedded in the strategy description can provide historical performance insights and optimize risk-return parameters for this pattern.