Venus/Tether Market Overview: Volatility and Short-Term Reversal Signs

• Venus/Tether (XVSUSDT) traded in a volatile range today, with a sharp decline in the early hours before a late recovery.
• Key support tested at $4.63–4.70, with a rebound observed after the 21:00 ET low.
• Momentum improved during the last 6 hours, showing a potential short-term reversal.
• Bollinger Bands expanded, indicating higher volatility, while RSI edged closer to oversold.
• Volume spiked during the 21:00–22:45 ET sell-off, but buying pressure reemerged after 5:00 ET.

Venus/Tether (XVSUSDT) opened at $4.85 on 2025-10-22 at 12:00 ET and closed at $4.8 at the same time on 2025-10-23. The pair reached a high of $4.93 and a low of $4.58 during the 24-hour window. Total volume was 23,118.42, and notional turnover amounted to approximately $108,612. The session witnessed pronounced intraday swings, notably a sharp drop to $4.63 before a late recovery attempt.

The price chart displayed a bearish breakdown followed by a short-term bullish reversal. A strong bearish candle formed around 21:15 ET, printing a low of $4.58 and closing at $4.63 after a 20-cent drop from the open. This was followed by a gradual reaccumulation phase starting at around 5:00 ET, with the price climbing to a high of $4.86 before settling near the close at $4.8. Notable patterns included a bearish engulfing candle at 21:15 ET and a bullish reversal formation as the pair approached the $4.8 level.

The 20-period and 50-period moving averages on the 15-minute chart indicated short-term bearish momentum, with the price below the 50-line for much of the session. However, the 50-period line began to flatten after 6:30 ET, suggesting a potential inflection point. The 200-period MA on the daily chart remains a key resistance at $4.85–4.86. RSI fell to 33 near the session low and has since recovered to the mid-50s, indicating moderate strength in the recent rally. MACD turned positive after 6:30 ET, suggesting improving momentum.

Bollinger Bands expanded during the sell-off and began to contract after 5:00 ET as volatility eased. Price remained in the lower half of the bands for much of the session, indicating bearish pressure, but has since moved closer to the midline. Fibonacci retracement levels from the key $4.58–4.93 swing showed the 61.8% level at $4.78–4.79 being tested before a rebound, suggesting potential support. Volume confirmed the bearish move in the early part of the session but began to show divergence during the rebound, indicating a possible shift in sentiment.

The pair appears poised for a short-term bounce, but risks remain on the downside if support at $4.75–4.78 is tested. Traders should monitor the 50-period MA and RSI for signs of overbought conditions in the next 24 hours. While the immediate bias is sideways to slightly bullish, a break below $4.75 could signal renewed bearish momentum.

Backtest Hypothesis
Given the notable bearish engulfing pattern observed on 21:15 ET and the subsequent price rebound, a backtest of a Bullish Reversal Strategy using Bullish Engulfing and 50-period MA crossover as entry signals could provide valuable insights. The key would be to validate whether such signals, when combined with RSI and volume confirmation, offer a statistically significant edge in similar volatility environments. However, due to the 500-error encountered with the data provider for XVSUSDT, the correct ticker symbol (e.g., with exchange suffix) is required to proceed with the backtest. Please provide either the correct ticker format (e.g., XVSUSDT.BINANCE) or a list of dates when the Bullish Engulfing pattern occurred for the backtest.