Market Overview: Ethereum/Argentine Peso (ETHARS) - 2025-09-13

• Ethereum/Argentine Peso (ETHARS) rallied 5.6% over the last 24 hours, with key resistance at 6925315.
• Strong bullish momentum seen in RSI and MACD, with price above both 20 and 50-period moving averages.
• High volatility noted with a 2.7% range between daily highs and lows, suggesting elevated risk of sharp corrections.
• Bollinger Bands show moderate expansion, and volume spiked during the final 6 hours, confirming late-day strength.
• A bullish engulfing pattern formed around 19:00 ET, suggesting further upside potential unless 6840125 support is tested.

Opening Snapshot

Ethereum/Argentine Peso (ETHARS) opened at 6,621,452 on 2025-09-12 at 12:00 ET, reaching a high of 7,022,424 and a low of 6,621,452 before closing at 6,979,097 on 2025-09-13 at 12:00 ET. The 24-hour volume was 8.468 ETH, with a notional turnover of approximately 59,161,675 ARS.

Structure & Formations

The past 24 hours showed a strong bullish bias, with ETHARS forming a clear ascending trend from 6,621,452 to 7,022,424. A bullish engulfing pattern developed around 19:00 ET, confirming renewed buying pressure. A key support level appears to be at 6,840,125, with a potential resistance at 6,925,315. A doji formed at 03:45 ET, signaling indecision but not reversing the overall bullish trend.

Moving Averages

Price closed above both the 20 and 50-period moving averages on the 15-minute chart, indicating a short-term bullish bias. On the daily chart, the 50-period MA is near 6,850,000, while the 100 and 200-period MAs are below current levels, reinforcing a positive short-to-medium-term outlook.

MACD & RSI

The 15-minute MACD remained in bullish territory throughout the session, with a final reading of +162,345 and a signal line crossing into positive territory. RSI reached 68 near the close, indicating moderate overbought conditions but not extreme. Momentum appears to have accelerated in the last 6 hours, confirming the bullish move.

Bollinger Bands

Bollinger Bands expanded significantly during the session, reaching a daily range of 2.7%, indicating rising volatility. ETHARS closed near the upper band, suggesting a potential pullback or consolidation period could follow. The volatility spike aligns with the final upward thrust and may signal a key turning point in the near term.

Volume & Turnover

Volume spiked to 0.414 ETH at 08:45 ET and remained above average for the last 6 hours, confirming the strength of the bullish move. Notional turnover peaked near 700,000 ARS during the final 3 hours, indicating strong participation. No significant price-turnover divergence was observed, supporting the idea of a well-backed bullish phase.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing (6,621,452 to 7,022,424), the 61.8% level is near 6,925,315, which ETHARS has reached and is now consolidating around. A breakdown below the 38.2% level (~6,875,000) would suggest a potential test of the 6,840,125 support level next.

Backtest Hypothesis

The given backtesting strategy relies on confirming bullish momentum using a crossover of the 20 and 50-period MAs on a 15-minute chart, alongside RSI above 50 and a bullish engulfing pattern. This aligns with ETHARS’s price action on 2025-09-13, where all three conditions were met between 19:00 ET and 01:00 ET. A backtest could validate whether such a combination leads to consistent short-term gains, particularly if followed by a close above the upper Bollinger Band. The strategy would also benefit from including a stop-loss at the 6,840,125 level to manage risk effectively.