Market Overview for Venus/Tether (XVSUSDT): 24-Hour Technical Analysis

• Price opened at $6.81 and closed at $6.63 over 24 hours, with intraday high of $6.87 and low of $6.63.
• A bearish breakdown below key support at $6.81 suggests potential further downside to $6.74 and $6.63.
• Volume surged at intraday highs and lows but failed to confirm a strong trend, indicating mixed momentum.
• RSI showed oversold conditions in the late hours, hinting at possible short-term rebound.
• Bollinger Bands widened after a consolidation phase, signaling rising volatility.

Venus/Tether (XVSUSDT) opened at $6.81 on 2025-09-18 12:00 ET and closed at $6.63 by 12:00 ET on 2025-09-19. The pair reached an intraday high of $6.87 and a low of $6.63. Total volume over the 24-hour period was 106,493.19, with a notional turnover of approximately $711,722. The price action suggests bearish momentum, with key support and resistance levels under pressure.

Structure & Formations

Price formed a bearish breakdown pattern as it pierced key support at $6.81, followed by a continuation of selling pressure. Notable candlestick patterns include a long bearish shadow at 05:30 ET and a bearish engulfing pattern at 09:30 ET. These formations suggest strong bearish sentiment. A potential support zone has formed around $6.63, which could serve as a short-term floor for the pair if buying interest emerges.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both trending downward, with price hovering below both. This confirms a bearish bias. On the daily chart, the 50-period MA is currently at ~$6.76, while the 200-period MA sits around $6.81. Price is below both, indicating a continuation of the broader downtrend and a potential test of the 200-period MA in the near term.

MACD & RSI

The MACD line has remained negative throughout the 24-hour period, with a bearish crossover in the early hours, confirming downward momentum. The histogram has gradually expanded as the bearish bias has deepened. RSI reached oversold conditions in the late hours of the day (~10:00–11:00 ET), hinting at a potential short-term bounce. However, this is likely a temporary reversal within an ongoing downtrend rather than a reversal in trend.

Bollinger Bands

Bollinger Bands have widened significantly after a period of consolidation, indicating rising volatility. The price has largely stayed near the lower band in the latter half of the day, reinforcing bearish pressure. A contraction in band width earlier in the day preceded the breakout, suggesting a breakout pattern with potential continuation of the bearish move.

Volume & Turnover

Volume surged near key inflection points, particularly during the bearish breakdown below $6.81 and during the late-day lows. Turnover also spiked during these periods, confirming the strength of the bearish move. However, volume and turnover have declined in the final hours, indicating a potential lack of conviction in continued bearish momentum and a possible pause in selling pressure.

Fibonacci Retracements

Applying Fibonacci to the 15-minute move from $6.87 to $6.63, key retracement levels at 38.2% (~$6.76) and 61.8% (~$6.71) have acted as resistance and support, respectively. The daily chart shows the 61.8% retracement level at $6.74, which has been tested twice in the last 24 hours, suggesting it could become a critical level in the near term.

Backtest Hypothesis

Given the bearish breakdown and confirmed moving average crossover, a potential backtesting strategy would involve entering a short position on a breakout below $6.81 with a stop-loss placed above $6.84, the recent swing high. A profit target could be set at $6.63, aligning with the 61.8% Fibonacci level and late-day support. This approach would be reinforced by a bearish MACD and RSI divergence, suggesting momentum has remained in sync with the trend. The high volume on the breakdown candle also provides confirmation of the strategy's validity in a live setting.