Travel to Venezuela right now is not prohibited, however it isn't suggested... Here's what the US State Department has to say...
This Public Announcement is being issued to update US citizens on the current political situation in Venezuela. It supersedes the Public Announcement of February 11, 2004, and will expire on May 25, 2004.
The political situation remains fluid. The Venezuelan Electoral Council (CNE) continues to consider whether it will ratify either the opposition or pro-government signature petitions, aimed at gaining approval for a recall referendum of President Chavez and a number of pro-government and opposition legislators. Political demonstrations, with potential for violence, may take place during this period of uncertainty. U.S. citizens should avoid all demonstrations and areas where groups are gathering. Additionally, they should monitor radio and TV broadcasts for new developments.*