VeChain/Tether (VETUSDT) Market Overview

• VETUSDT opened at $0.02373, reached $0.02410 (high), and closed at $0.02257 (low: $0.02244)
• Price declined ~7.5% amid a bearish momentum, with RSI in oversold territory
• Key support at $0.0225–0.0227, resistance at $0.0236–0.0238; Bollinger Bands show low volatility
• Volume surged in late afternoon ET, but notional turnover diverged from price decline
• A long-legged bearish doji at $0.02259 and a bearish engulfing pattern at $0.02390 stand out

24-Hour Price Summary

VeChain/Tether (VETUSDT) opened at $0.02373 on October 6, 2025 (12:00 ET–1), reached a high of $0.02410, and closed at $0.02257 by 12:00 ET on October 7. The pair traded within a range of $0.02244 to $0.02410, recording a total volume of approximately 55.6 million VET and a notional turnover of ~$1.32 million over the 24-hour period. The price action reflects a sharp bearish trend, especially after 19:00 ET, as sellers overtook buyers.

Structure & Formations

The 15-minute chart shows a decisive bearish shift starting at 20:15 ET, where a large bearish candle with a high of $0.02410 and close at $0.02395 marked a key turning point. This was followed by a series of lower closes forming a descending channel. A bearish engulfing pattern emerged at $0.02390, confirming the reversal. The most notable bearish formation was a long-legged doji at $0.02259, suggesting indecision and potential support near $0.0225. Key support levels appear to be at $0.0225–0.0227 and $0.0236–0.0238, with the latter acting as a potential retest zone for short-term bounces.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended downward through the day, confirming the bearish bias. Price remained below both lines, which have acted as dynamic resistance. On the daily chart, the 50/100/200-period moving averages were all sloping downward, with VETUSDT closing significantly below them. This suggests that the intermediate-term bias remains bearish, and a retest of the 50-period MA (~$0.0232) could offer a potential entry point for cautious longs.

MACD & RSI

The MACD turned negative early in the trading day and remained below the signal line, with the histogram shrinking as price declined. This indicates waning momentum. The RSI dropped sharply into oversold territory (below 25) by 16:00 ET, signaling potential exhaustion in the sell-off. However, a divergence was noted as the RSI bottomed at ~18 while price continued to drop below $0.0228. This divergence suggests that the selloff may not be over, but a rebound in RSI above 25 could spark a short-term bounce.

Bollinger Bands

Bollinger Bands contracted narrowly through the afternoon, particularly between 19:00 ET and 20:00 ET, before expanding rapidly in a bearish breakout. The move from consolidation to rapid bearish expansion is a classic volatility expansion pattern, often preceding a continuation of the trend. The price closed near the lower Bollinger Band, reinforcing the oversold condition and suggesting that further support may be found around $0.0225–0.0227.

Volume & Turnover

Volume spiked notably after 19:00 ET, with a candle at 20:15 ET printing a volume of 21.2 million VET, the highest of the day. However, notional turnover failed to rise proportionally, creating a divergence with price. This could indicate that the selloff was driven by large orders or market makers rather than broad retail participation. The late-night volume increase (after 00:00 ET on October 7) also failed to support a meaningful rebound, reinforcing bearish sentiment.

Fibonacci Retracements

Applying Fibonacci retracements to the 15-minute swing from $0.02410 to $0.02244, the 38.2% level is at $0.02325, and the 61.8% level is at $0.02285. Price tested the 61.8% level twice without breaking through, suggesting it may act as a key support. On the daily chart, the 61.8% level of the broader move from $0.02700 to $0.02244 is at $0.0251, well above current levels and less relevant in the short term.

Backtest Hypothesis

A potential backtesting strategy could focus on entering short positions on a break of the 15-minute bearish engulfing pattern, as seen at $0.02390. Stops could be placed above the $0.02410 high, with targets aligned to the 61.8% Fibonacci level at $0.02285 and then $0.02244. A filter for increasing volume and MACD divergence could further refine the entry conditions. This approach would capitalize on the continuation bias of a strong bearish pattern while using Fibonacci levels to manage risk and reward.