VETUSDT Market Overview – 2025-11-11

Summary
• VETUSDT traded in a tight range with bearish momentum in the final hours.
• Volume surged in early morning hours, coinciding with a 0.7% price rally.
• RSI signaled overbought conditions in late morning before a pullback.

VETUSDT opened at $0.01713 on 2025-11-10 at 12:00 ET and closed at $0.01726 on 2025-11-11 at 12:00 ET. The 24-hour range was $0.01694 (low) to $0.01870 (high). Total volume was 550,795,688.93 and total turnover (notional value) was approximately $9,532,178.64. The pair showed a slight bullish bias in early morning hours, followed by consolidation and a bearish reversal in late afternoon.

Structure & Formations

The 24-hour OHLCV pattern showed a strong bullish thrust in the early morning session, with a high of $0.01870, forming a potential Bullish Engulfing pattern on the 15-minute chart around 17:00 ET. However, this was followed by a bearish correction, forming a Bearish Harami pattern between 18:00 ET and 20:00 ET, indicating potential short-term bearish momentum. Key support levels emerged near $0.01710 and $0.01694, while resistance was retested around $0.01740 and $0.01760.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages converged around $0.01720–$0.01730 during the morning hours. In the afternoon and evening, price action drifted below both moving averages, suggesting bearish pressure. For the daily chart, while the 50-day MA was not explicitly calculated, the 100-day and 200-day MAs appear to have acted as strong resistance in prior sessions, which may have influenced the current pullback.

MACD & RSI

The 15-minute MACD showed a bearish crossover in late afternoon, with the line dipping below the signal line and remaining negative through the evening. RSI peaked above 70 at midday, indicating overbought conditions, followed by a sharp drop below 50 by late afternoon, reinforcing the bearish turn. These signals suggest that traders may have been liquidating long positions or initiating short-term bearish trades in response to the overbought condition.

Bollinger Bands

Volatility expanded during the morning rally, pushing price outside the upper Bollinger Band at $0.01870. As the price pulled back in the late afternoon, it reentered the band’s middle line, suggesting a return to a mean-reverting state. The narrowing of the bands in the evening indicated a potential consolidation phase, with price likely to test support or resistance levels again in the near future.

Volume & Turnover

Volume spiked during the morning rally, with over 41 million VET traded around 15:15 ET and 15:30 ET. This was accompanied by a large notional value of $7,150,000 in those 30-minute periods, suggesting significant institutional or large-cap buyer participation. Conversely, the late afternoon decline saw lower volume but more consistent price pressure, indicating short-term bearish conviction. There was no notable divergence between price and volume in the final hours, suggesting the bearish move was broadly supported.

Fibonacci Retracements

Applying Fibonacci levels to the 15-minute swing from the morning high of $0.01870 to the low of $0.01710, the 61.8% retracement level is at approximately $0.01782. The 38.2% level is at $0.01798. Price has yet to test these levels and appears to be consolidating below the 50% level. On the daily chart, the 61.8% retracement from the prior high near $0.01870 would be at $0.01726—coinciding with the close of the 24-hour period. This may offer a psychological level to watch for near-term resistance.

Backtest Hypothesis

Given the presence of a Bullish Engulfing pattern in the morning and the significant volume and price action associated with it, this pattern could be considered a high-probability entry opportunity under the described strategy. If applied to VETUSDT, the strategy would have entered on the open of the next 15-minute bar after the pattern was confirmed and held for three periods. Testing this approach over the last year may reveal how frequently such patterns produce profitable outcomes across volatile altcoin pairs like VeChain.