Market Overview for VeChain/Tether (VETUSDT) – 2025-10-22

• VeChain/Tether (VETUSDT) declined from 0.01821 to 0.01702 over the last 24 hours amid bearish momentum.
• A bearish engulfing pattern formed early on 10/21, confirmed by falling RSI and diverging price-volume dynamics.
• Volatility expanded through Bollinger Bands with price lingering near the lower band, signaling oversold conditions.
• Fibonacci retracements suggest key support at 0.01690–0.01673, with 0.01740–0.01755 as near-term resistance.
• Short-term bearish sentiment remains strong, though volume decay suggests potential exhaustion below 0.01720.

The VeChain/Tether (VETUSDT) pair opened at 0.01807 on 2025-10-21 at 12:00 ET and closed at 0.01702 by 12:00 ET on 2025-10-22, with a high of 0.01822 and low of 0.01673. Over the 24-hour period, volume totaled 153,901,794.4 and turnover reached 2,639.78. A bearish continuation pattern formed, with strong pressure below 0.01750 and weak follow-through into 10/22.

Structure & Formations

A bearish engulfing pattern formed on 2025-10-21 at 17:00 ET, with a large bearish candle closing at 0.01785 after an opening at 0.01811. This was followed by a series of lower lows and a breakdown below key support levels. A 61.8% Fibonacci retracement level at 0.01716 appears to be a critical short-term floor, with a deeper 0.01690 level likely to be tested if the move continues. A doji formed briefly near 0.01706, suggesting potential short-term indecision, but bearish momentum reaccelerated afterward.

Support & Resistance

Immediate support is at 0.01716 (61.8% Fib retracement) and 0.01702 (23.6% Fib retracement). Key resistance is at 0.01740 (38.2% Fib) and 0.01755 (previous intraday pivot). A break below 0.01673 could signal deeper weakness, aligning with the 100-day low on the daily chart.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are bearish and trending downward, with the 20 MA crossing below the 50 MA in late 10/21 trading. On the daily chart, the 50-day and 100-day MAs are in a strong downtrend, with the 50-day MA at 0.01780 and the 100-day MA at 0.01820. Price remains well below both, reinforcing the bearish bias.

MACD & RSI

MACD turned negative on 10/21 at 18:00 ET and has remained in bearish territory, with the histogram trending downward. RSI has fallen into oversold territory (below 30) after hitting a low of 24.5 at 05:30 ET on 10/22, but has failed to rebound meaningfully, signaling exhaustion in the rally and potential for a continuation of the downtrend. A strong rebound above 45–50 would be required to reverse the trend.

Bollinger Bands

Bollinger Bands expanded during the downward move, with price closing near the lower band at 0.01702. This confirms oversold conditions, though without a strong reversal signal, further bearish moves into the lower band are likely. A reversal candle with high volume above the 0.01740 level could trigger a bounce, but such a move is not currently evident in the data.

Volume & Turnover

Volume spiked significantly during the breakdown at 17:00 ET on 10/21, reaching a peak of 9,164,678.6. Turnover remained elevated through 06:00 ET on 10/22 but has since declined, indicating weaker follow-through buying. This volume divergence suggests potential exhaustion in the downtrend, although without a clear reversal pattern or a breakout above key resistance, bearish momentum remains intact.

Fibonacci Retracements

A recent 15-minute swing high at 0.01822 and low at 0.01702 show a 38.2% retracement at 0.01748 and a 61.8% level at 0.01722. On the daily chart, the move from 0.01820 to 0.01673 has a 61.8% retracement at 0.01712 and a 78.6% level at 0.01730. A close above 0.01720 may trigger short-term profit-taking, but a sustained breakout would require a strong close above 0.01750.

Backtest Hypothesis

The performance of the “Sell on Bearish Engulfing – 1-Day Hold” strategy for VETUSDT from January 2022 to October 22, 2025, reveals that this approach did not deliver robust risk-adjusted returns. While the strategy had a slight positive annualized return of 1.00%, the total return was negative (-6.76%), and the maximum drawdown of 42.64% highlights significant volatility. The average gain per trade was a modest +0.04%, with large losses offsetting frequent small profits. For traders considering this pattern, incorporating filters such as RSI overbought conditions or tighter stop-loss parameters could potentially improve performance and reduce risk. Given the current bearish momentum and oversold RSI, a short-term trade based on this pattern could be tempting, but a broader market context or confirmation of exhaustion is strongly advised.