VeChain/Tether (VETUSDT) Market Overview

• VETUSDT formed a bearish continuation pattern with a 1.2% decline in 24 hours.
• RSI reached oversold territory at 30.7, signaling potential short-term bounce.
• Volume surged during the overnight selloff, confirming bearish momentum.
• Price remains below both 20 and 50-period SMAs on the 15-minute chart.
• Bollinger Bands show a modest contraction in volatility in the last 6 hours.

VeChain/Tether (VETUSDT) opened at $0.02501 on 2025-09-20 12:00 ET and closed at $0.02443 at 12:00 ET on 2025-09-21, recording a 24-hour high of $0.02505 and low of $0.02432. The total volume over the period was 310,181,283.9 VET, and the notional turnover amounted to $7,600,687. A bearish bias dominated, particularly after the 03:00 ET timeframe, with a concentration of selling pressure observed during the overnight hours.

The price action revealed a bearish continuation pattern on the 15-minute chart, with a breakdown from a key resistance level near $0.02485. A 20-period and 50-period SMA both remained above the current price, reinforcing the downward drift. A doji formed at $0.02478, signaling indecision, while a morning star pattern at $0.02458 offered a temporary pause in the decline. A key support level appears to be forming near $0.02440, with a possible bounce expected if bulls can defend it.

Bollinger Bands showed a recent contraction in the 18–21-hour period, indicating a potential prelude to a breakout. Price currently resides in the lower band, aligning with oversold RSI levels. The RSI hit 30.7, pointing to a possible rebound, but with the MACD in negative territory and bearish divergence in the histogram, caution is warranted. The MACD line crossed below the signal line, reinforcing the bearish momentum. Fibonacci retracement levels at 61.8% and 78.6% near $0.02440 and $0.02426 respectively suggest critical support clusters to watch in the next 24 hours.

Volume and turnover data showed a clear divergence in the last 6 hours, with a decline in volume despite a continued price drop. This may indicate waning bearish conviction. The highest volume occurred between 02:30 ET and 05:00 ET, during a sharp breakdown. A comparison of the notional turnover and volume reveals no major discrepancies, but the late decline in volume suggests the selloff may be running out of steam.

Backtest Hypothesis

Given the observed bearish continuation pattern and key support near $0.02440, a potential buy-the-dip strategy could be considered at this level using a 1.5% stop-loss and a 2.5% target. This would align with the RSI’s oversold condition and the Fibonacci 61.8% level. A backtest should also include a trailing stop once the target is hit, capturing any further upside from a consolidation phase. The strategy would benefit from including volume-based entry confirmation, ensuring that buying pressure is evident at the support level before entering a long position.