Market Overview for VeChain/Tether (VETUSDT) on 2025-11-04

Summary
• VETUSDT opened at 0.01473 and closed at 0.0145 at 12:00 ET, forming a downward bias on the 15-minute chart.
• Price found key support at 0.0144–0.01445, while resistance clustered above 0.01475.
• A bearish divergence in volume and price suggests weakening upward momentum.

VeChain/Tether (VETUSDT) opened at 0.01473 on 2025-11-03 at 12:00 ET and closed at 0.0145 on 2025-11-04 at the same hour. The 24-hour period saw a high of 0.015 and a low of 0.01415. Total volume was 126,724,287.69 and total turnover (amount) was 1,064.61. Price formed bearish patterns like the engulfing candle and declining hammer, indicating a possible shift in market sentiment.

The 20- and 50-period moving averages on the 15-minute chart both crossed below the price, reinforcing the downward bias. On the daily chart, the 50-period MA sits above the 200-period MA, suggesting a longer-term bearish trend. Momentum indicators show mixed signals: RSI is in oversold territory at 32, suggesting potential for a bounce, but MACD is negative and diverging from price, pointing to sustained selling pressure.

Bollinger Bands show moderate volatility with the price near the lower band, indicating a possible bounce or continuation of the downtrend. Volume and turnover peaked during the early afternoon ET session, but price continued to fall, signaling a bearish divergence. This may indicate a lack of conviction in short-term buyers.

Key Fibonacci levels from the 15-minute chart suggest 0.01445 as a critical support level, with a 61.8% retracement at 0.01445 coinciding with price consolidation. A break below this level could open the door for a test of 0.0143–0.0142.

Backtest Hypothesis
The proposed backtest strategy targets Bearish Engulfing patterns as entry signals and uses a hard stop at 0.01414 as the exit condition. This approach is consistent with the observed bearish momentum and key support levels identified in the 15-minute and daily data. The strategy could be refined by incorporating a trailing stop or time-based exit if the price stalls near 0.01445, but the current exit rule aligns with the chart’s structure. Given the high volume at key resistance levels, a backtest could help evaluate the frequency and profitability of such signals.