VeThor Token/Tether Market Overview (2025-09-19)

• Price dropped 0.17% from 0.00188 to 0.001824 over 24 hours with strong bearish momentum.
• RSI hit oversold territory, signaling possible short-term rebound, but volume declined.
• Bollinger Bands showed moderate contraction after a wide range, indicating a potential consolidation phase.
• A bearish engulfing pattern formed near the high, and a key support level emerged around 0.001820.
• Notional turnover reached $155.3M, with divergences between price and volume observed late in the session.

Market Overview Summary

The VTHOUSDT pair opened at 0.00188 on 2025-09-18 at 12:00 ET and closed at 0.001824 on 2025-09-19 at 12:00 ET. During the 24-hour period, it reached a high of 0.001895 and a low of 0.001808. Total traded volume amounted to 124,466,608.0 with a notional turnover of $229.4 million. The price experienced a bearish trend with intermittent rebounds, forming key support and resistance levels.

Structure & Formations

Price action formed a bearish engulfing pattern near the session high at 0.001895, indicating strong selling pressure. A key support level emerged at 0.001820, where the price consolidated late in the session. A doji candle formed at 0.001825 around 12:00 ET, signaling indecision and potential reversal. Traders should monitor this level closely for further bearish or bullish bias.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both sloped downward, reinforcing the bearish trend. The 20-period MA crossed below the 50-period MA, forming a bearish death cross. On the daily chart, the 50-period and 100-period MAs were in a tight alignment, suggesting neutral-to-bearish pressure, while the 200-period MA acted as a long-term resistance.

MACD & RSI

The MACD histogram showed a bearish divergence during the afternoon session, with the price rebounding but the histogram contracting. RSI dropped into oversold territory (below 30) around 0.001824, suggesting possible short-term rebounds. However, the slow RSI failed to cross back above 30, indicating ongoing bearish sentiment.

Bollinger Bands

Bollinger Bands exhibited a moderate contraction after a wide range, signaling a possible consolidation phase. Price spent most of the session within the lower half of the band, with the 0.001825 level acting as a temporary floor. A break below the lower band could confirm a further leg down, though this would need increased volume to validate.

Volume & Turnover

Notional turnover hit a peak of $155.3 million with a volume spike of over 124 million at 11:15 ET, as price fell to 0.001827. Later, volume dropped significantly despite continued price declines, signaling weak conviction from sellers. This divergence suggests caution ahead of any further price action.

Fibonacci Retracements

Applying Fibonacci retracements to the 15-minute swing from 0.001895 to 0.001820 revealed key levels at 0.001858 (38.2%) and 0.001840 (61.8%), where price paused on multiple occasions. The 0.001820 level held strong as a daily support. A break below this could target the next level at 0.001808, with a high probability of continuation if volume increases.

Backtest Hypothesis

The backtest strategy outlined focuses on a combination of bearish engulfing patterns, RSI below 30, and volume divergence as entry triggers. It suggests entering a short position at the open of the candle following confirmation, with a stop-loss above the recent swing high and a take-profit at the 61.8% Fibonacci level. Given the recent price action and indicators, VTHOUSDT appears to align well with this setup, though volatility contraction may delay execution.