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Summary
• Price surged from $4.60 to $5.20 on strong late-day buying.
• RSI hit overbought levels, indicating possible short-term pullback.
• Volume spiked sharply during the final 6 hours, confirming recent gains.
• Bollinger Bands widened, reflecting rising volatility.
• 20-period MACD turned positive, suggesting bullish momentum.
At 12:00 ET–1, Venus/Tether (XVSUSDT) opened at $4.60, reached a high of $5.06, and closed at $5.04 by 12:00 ET, with a low of $4.56. Total volume for the 24-hour window was 598,638.6, and notional turnover reached $2,859,727.09.
On the 5-minute chart, the 20-period and 50-period moving averages have both trended higher, with the 20-period MA crossing above the 50-period MA to confirm a bullish bias. On the daily chart, the 50-period MA now sits above the 100-period MA, signaling a continuation of the long-term uptrend.
Applying Fibonacci to the key 5-minute swing from $4.56 to $5.20, the price found initial resistance at the 61.8% retracement level ($4.94), which was later broken. On the daily chart, the $5.02 level corresponds to the 38.2% retracement of the recent larger bullish move, indicating a potential area for further consolidation.
Looking ahead, the recent sharp move has established a new short-term support zone around $5.02. While the bullish momentum remains strong, traders should watch for signs of a pullback near overbought RSI levels. A failure to hold above $4.94 could shift the immediate bias lower, but the long-term uptrend remains intact. Investors should remain cautious of a potential volatility-driven reversal in the next 24 hours.
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