VeChain/Tether (VETUSDT) 24-Hour Market Overview

• VETUSDT rose from 0.02193 to 0.02224, forming a bullish pattern with strong momentum near 0.0222.
• Volatility expanded after 22:00 ET-1, with price reaching 0.0224 before consolidating.
• RSI hit overbought territory briefly, suggesting possible near-term pullback risks.
• Bollinger Bands widened during the rally, indicating increased uncertainty.
• Volume surged on the 0.0222–0.0224 consolidation, confirming bullish conviction.

VeChain/Tether (VETUSDT) opened at 0.02193 on 2025-10-09 12:00 ET-1, reached a high of 0.0224, touched a low of 0.02119, and closed at 0.02147 by 12:00 ET on 2025-10-10. Total volume over 24 hours was 112.9 million VET, with a notional turnover of ~$25.2 million. The pair exhibited a sharp rebound off the 0.0215–0.0219 support level, forming a bullish recovery.

Structure & Formations

The 15-minute chart showed a bullish engulfing pattern forming just above 0.0222, followed by a consolidation phase. A bearish divergence emerged as volume waned after 15:00 ET, suggesting sellers could re-enter near 0.0224. Key support levels identified include 0.02193 and 0.0217, with resistance at 0.0222 and 0.02235. A doji formed at 0.02236, hinting at indecision in bullish momentum.

Moving Averages

On the 15-minute chart, price traded above the 20SMA, which currently sits at ~0.02218, indicating short-term bullish bias. The 50SMA is slightly higher at ~0.02221. Daily chart averages show VETUSDT trading just below the 200DMA (~0.02212), with the 50DMA at ~0.02218 suggesting a neutral-to-bullish setup for the medium term.

MACD & RSI

The MACD crossed into positive territory late in the session, aligning with the price rebound off 0.0219. RSI peaked at ~62 before retreating to ~54, indicating a potential short-term consolidation phase. While not yet overbought, the RSI remains above neutral, suggesting continued upside potential could be capped unless buyers push past 0.02235.

Bollinger Bands

Volatility expanded significantly after 22:00 ET-1, as price surged from 0.0220 to 0.0224 and remained near the upper band. A contraction phase began after 05:00 ET, with the bands tightening as the market paused. Price remains above the 20-period Bollinger Midline (~0.02217), indicating a continuation of bullish bias unless it breaks below the lower band at ~0.0219.

Volume & Turnover

Volume spiked to ~8.7 million VET on the 0.0222–0.0224 consolidation phase, confirming buyer interest. However, turnover dropped after 15:00 ET despite price action near the high, signaling potential profit-taking. The divergence between price and volume suggests caution ahead of the next 24-hour period.

Fibonacci Retracements

On the 15-minute chart, the 0.0222–0.0224 rally corresponds to a 38.2% retracement of the earlier 0.02213–0.02193 decline. On the daily chart, the 0.02193–0.0224 bounce marks a 61.8% retracement of the prior 0.02213–0.0215 drop. These levels could serve as psychological support/resistance in the near term.

Backtest Hypothesis

The backtest strategy involves entering long positions when price breaks above the 20SMA on the 15-minute chart, confirmed by a bullish engulfing pattern and RSI above 50. A stop-loss is placed below the most recent support level, with a target at the 61.8% Fibonacci retracement. Given today's price action, this setup was activated late in the session, aligning with the 0.0222–0.0224 consolidation. While the initial target of 0.02235 was met, further validation is needed to confirm sustainability beyond the next 24 hours.

The next 24 hours could see VETUSDT testing key resistance at 0.02235 and 0.0224. A sustained break above 0.02235 may signal a continuation of the bullish trend, while a pullback below 0.02217 could invite a retest of 0.02193. Traders should remain cautious of potential volatility if volume declines without a clear price direction.