VeThor Token/Tether (VTHOUSDT) Market Overview: A Bearish 24-Hour Move with Key Support in Focus

• Price declined sharply overnight, closing at a 24-hour low near 0.001832 on heavy volume.
• RSI and MACD signal bearish momentum with no immediate overbought/oversold reversal signs.
• Volatility expanded in early morning before stabilizing in a narrow range, suggesting consolidation.
• Key support at 0.001820-0.001815 is critical, with a bearish breakdown likely if it fails.

Opening Summary

VeThor Token/Tether (VTHOUSDT) opened at 0.001875 on September 14 at 12:00 ET, reached a high of 0.001903, and closed at 0.001832 by 12:00 ET on September 15. The pair experienced significant bearish movement, closing over 4.3% lower. Total volume over the 24-hour period reached 137,300,000, with a notional turnover of approximately $249,105 (calculated using mid-quotes).

Structure & Formations

The price action formed a textbook bearish continuation pattern over the last 24 hours, especially from 05:00 ET onward. A sharp breakdown occurred from the 0.001885 resistance level, triggering a cascade of selling pressure. The most notable formations include a bearish engulfing pattern around 09:00 ET and a deep doji at 07:45 ET, which indicated indecision before the downward move. A critical support cluster appears to be forming around 0.001820–0.001815, marked by two rejection candles in the last 45 minutes of the day.

Moving Averages and Fibonacci Levels

On the 15-minute chart, the 20SMA and 50SMA have been in a bearish crossover since 02:00 ET, reinforcing the downward bias. On the daily chart, the 50DMA has dipped below the 200DMA, indicating a medium-term bearish trend. Key Fibonacci retracement levels from the overnight high at 0.001903 show the 61.8% level at 0.001837, which the price briefly tested before breaking lower. The 38.2% level at 0.001861 also failed to provide meaningful support, further validating the bearish narrative.

Volatility, Volume, and Turnover

Volatility spiked between 05:00 ET and 09:00 ET as the price fell from 0.001893 to 0.001847, with the most significant drop occurring around 07:45 ET when volume surged to 20.6 million contracts. A divergence appears in the final 2 hours of the 24-hour period, where volume declined while price continued to fall. This could signal a temporary exhaustion of sellers, though given the current structure, a retest of support is likely before any potential reversal.

MACD and RSI Analysis

The MACD line turned negative at 05:00 ET and has remained below the signal line throughout, with bearish divergences forming over the last three hours. RSI has fallen into oversold territory below 30 since 08:00 ET, but the divergence between price and RSI suggests that a short-term bounce may be brewing. However, without a clear reversal pattern or a strong bullish candle, this remains a temporary reprieve rather than a reversal signal. The RSI remains in the 30–35 range, suggesting continued bearish pressure unless a strong bullish setup forms.

Backtest Hypothesis

A potential backtesting strategy for VTHOUSDT could involve a short-biased breakout trade when price breaks below key support levels with increasing volume, as seen during the 07:45–08:00 ET period. A trailing stop could be placed just above the most recent swing high, with exits based on the 38.2% Fibonacci retracement or when RSI rises above 50. This strategy would align with the observed trend and volume confirmation, potentially capitalizing on the bearish continuation pattern.