VeChain/Tether USDt (VETUSDT) 24-Hour Market Overview

• Price action formed a short-term bearish breakdown and consolidation phase after an initial 15-minute bullish thrust.
• Momentum dipped into oversold territory on RSI but failed to confirm strong reversal potential.
• Volatility remained elevated due to erratic swings, with volume peaking in the early part of the 24-hour window.
• Key resistance near 0.0247 and support near 0.02435 were tested multiple times, with mixed follow-through.

VeChain/Tether USDt (VETUSDT) opened at 0.02449 at 12:00 ET − 1, rose to a high of 0.02474, fell to a low of 0.02409, and closed at 0.02447 at 12:00 ET. Total 24-hour volume was approximately 120,613,550, with notional turnover reaching $2,978,374.

1. Structure & Formations

VETUSDT displayed a bearish bias throughout much of the day, with price failing to hold key resistance levels above 0.0246. The most significant candlestick pattern was a large bearish engulfing pattern at the peak near 0.02474, followed by a long-legged doji near 0.02446, signaling indecision among traders. A series of lower highs and higher lows between 0.0244 and 0.02475 suggest a consolidation phase may be forming around the 0.0244–0.0247 range, with traders watching for a definitive break.

2. Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed in a bearish "death cross" formation, reinforcing downward momentum. The 50-period MA sat at around 0.0245, while the 20-period MA crossed below it. On the daily chart, the 50-period MA sits at approximately 0.02455, above the 200-period MA at 0.02438, indicating a potential long-term bullish structure. VETUSDT closed slightly above the 50 MA, suggesting short-term buyers may be entering near key support levels.

3. MACD & RSI

The MACD line showed a bearish divergence as it fell below the signal line and remained negative for much of the day, confirming the downward trend. The RSI indicator dipped into oversold territory (below 30) for a brief period around 0.02445 but failed to rebound meaningfully, indicating a lack of conviction in the bounce. This suggests traders may be cautious about short-term reversals unless the RSI can break above 50 and maintain it for a sustained period.

4. Bollinger Bands

Price action remained tightly contained within the Bollinger Bands for most of the session, with a minor contraction observed in the early hours. This tightening volatility often precedes a breakout or breakdown. VETUSDT tested the lower band multiple times during the afternoon and early evening session, suggesting the lower boundary may act as a short-term floor. A break above the upper band would signal a reacceleration of bullish momentum.

5. Volume & Turnover

Volume was highest in the early part of the 24-hour window, especially during the sharp descent from 0.02474 to 0.02409, where volume spiked significantly. Notional turnover also increased during this period, aligning with the price movement. However, after the 10:00 AM ET hour, volume declined sharply, suggesting diminishing conviction among sellers. Price and volume diverged in the late hours, as price attempted to push higher but with reduced volume, indicating potential exhaustion among buyers.

6. Fibonacci Retracements

Applying Fibonacci retracements to the most recent 15-minute swing (from 0.02409 to 0.02474), the 38.2% level at 0.02449 and 61.8% at 0.02467 were both tested, with price failing to close above either. On the daily chart, a retest of the 38.2% retracement level around 0.02456 appears to have stalled, reinforcing the idea that sellers remain in control.

Backtest Hypothesis

The backtesting strategy suggests using a combination of RSI divergence and volume confirmation to identify potential turning points. If the RSI drops below 30 and volume increases on the next rally attempt, it could signal a short-term bottom. Alternatively, a bearish divergence in RSI above 70 with increasing volume could indicate a potential top. This aligns with the observed bearish divergence in RSI and elevated volume on the descent, suggesting that a reversal may be likely only if buyers can reclaim the 0.0246 level with increasing volume.