VeChain/Tether (VETUSDT) Market Overview

• VeChain/Tether (VETUSDT) declined by -2.9% over 24 hours amid bearish momentum and oversold RSI conditions.
• Price dropped from a 24-hour high of $0.01846 to a low of $0.01652, forming multiple bearish engulfing and inside patterns.
• Volatility expanded sharply in the last 6 hours, with a large-volume bullish reversal attempt from $0.01652 to $0.01807.
• Bollinger Bands widened post-15:00 ET, indicating increased uncertainty and potential for trend continuation or reversal.
• Turnover spiked to $47.2M in the last 15-minute candle, suggesting strong short-term interest.

VeChain/Tether (VETUSDT) opened at $0.01674 on 2025-10-11 at 12:00 ET and closed at $0.01756 on 2025-10-12 at 12:00 ET, with a 24-hour high of $0.01846 and a low of $0.01652. Total volume reached 224.1 million VET, and notional turnover stood at approximately $3.86 million, indicating elevated but uneven participation.

Price action over 24 hours was characterized by bearish bias and multiple downward corrections. The early session saw a sharp drop into oversold territory, followed by a rebound attempt that failed to close above key resistance levels. A strong bearish engulfing pattern formed around 19:30–20:15 ET, confirming a short-term trend reversal. The price then traded in a consolidation phase between $0.01675 and $0.01700 until a late surge lifted it above $0.01750. This move coincided with a 13% increase in volume in the 15:00–15:15 ET candle and marked a potential short-covering rally.

The 20-period and 50-period moving averages on the 15-minute chart crossed below price, reinforcing bearish momentum. RSI dropped below 30 in the morning session, signaling oversold conditions, but failed to trigger a meaningful reversal. MACD showed negative divergence, with a bearish crossover in the early morning. Bollinger Bands expanded sharply in the last 4 hours, indicating increased volatility and potential for either a continuation or a reversal. Fibonacci retracement levels suggest that key support is now at $0.01706 (61.8%) and resistance at $0.01776 (38.2%).

Backtest Hypothesis
A potential backtesting strategy could involve entering short positions upon confirmation of bearish engulfing or inside patterns at key Fibonacci levels below the 50-period moving average, with stop-loss above the recent high and take-profit at 0.01706 (61.8% support). Given the current bearish divergence in MACD and RSI, a trailing stop could be used after price bounces into overbought conditions. If the 15-minute RSI closes above 50 with increasing volume and positive MACD, the position may be closed early to capture countertrend profit. This strategy aligns with the observed price behavior and could be further refined with historical volatility-based position sizing.