VeThor Token/Tether Market Overview

Summary
• Price opened at $0.00119, dropped to $0.001143, and closed at $0.001159.
• A sharp bearish reversal occurred early in the 24-hour window.
• Volume spiked post-reversal, confirming bearish sentiment.

The VeThor Token/Tether (VTHOUSDT) pair opened at $0.00119 at 12:00 ET-1 and saw a bearish reversal early in the session, falling as low as $0.001143 before recovering slightly. The price closed at $0.001159 at 12:00 ET today, signaling a bearish bias. The total 24-hour trading volume was 157,734,623.0 units, with a notional turnover of approximately $179,737,036.14. The bearish momentum was most pronounced in the initial hours, with volume surging after the price break below key support levels.

Structure & Formations

The price action on VTHOUSDT displayed a bearish engulfing pattern from 00:30 to 00:45 ET, as the opening price was engulfed by a significantly lower closing range. This formation was followed by a breakdown in structure, with price failing to reclaim above the 0.001182 level. A key support was identified around $0.001165–$0.001162, which held for brief consolidation but was later broken. Notable bearish confirmation came via a lower low and lower close after the initial breakdown, suggesting potential further downside.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both sloped downward, reinforcing the bearish bias. The 20-period line crossed below the 50-period line, forming a death cross. On the daily timeframe, the 50-period SMA was at 0.001186, and the 200-period SMA at 0.001198, with price trading well below both, indicating a strong bearish trend.

MACD & RSI

The MACD turned negative early in the session and remained bearish, with the signal line diverging downward. The histogram reflected growing bearish momentum, particularly after the breakdown. The RSI dropped below 30 early, indicating oversold conditions, but price failed to rebound, pointing to weak conviction in the oversold zone. This suggests further downside may be probable before a potential bounce.

Bollinger Bands

Price fell below the lower Bollinger Band during the early hours, confirming a bearish breakout. Volatility was elevated during the reversal phase, with the bands widening. As the session progressed, bands began to contract slightly, hinting at a possible consolidation phase ahead if the trend weakens.

Volume & Turnover

Volume surged during the bearish breakdown, reaching over 15 million units, while turnover increased sharply. The price-volume divergence during the rebound phase—where price rose but volume fell—suggests a weak short-covering rally. This could indicate a lack of buyer interest and continued bearish control of the market.

Fibonacci Retracements

Applying Fibonacci to the 0.001191–0.001143 swing, the price appears to have found a brief pause around the 38.2% retracement level (0.001165) but failed to hold it. The 61.8% retracement level is at 0.001157, which is close to the most recent close. A breakdown below that could target 0.001149 next.

Backtest Hypothesis

Given the bearish patterns identified, including the engulfing formation and breakdown below key levels, a backtest targeting the short-side using these signals could be effective. A strategy using bearish engulfing candlestick patterns, as seen in the early hours of the 24-hour window, may offer viable short-term opportunities. A backtest running from 2022-01-01 to 2025-11-09, using VTHOUSDT and holding shorts for 1–3 days, could validate this approach. For accurate results, we need a valid data source for these signals—please confirm the correct ticker or provide the signal dates.