Market Overview: Tether/Argentine Peso (USDTARS) 24-Hour Analysis

• Tether/Argentine Peso (USDTARS) traded in a tight range of 1491.4–1499.9, closing near the high after a late-night rally.
• Momentum shifted from bearish to bullish in the final 6 hours, with RSI showing overbought levels near the close.
• Volatility dropped significantly overnight, but volume remained healthy, indicating steady interest without sharp swings.
• Price found support around 1496.3–1498.0 multiple times, suggesting consolidation before a potential breakout.

Tether/Argentine Peso (USDTARS) opened at 1492.3 on 2025-11-01 at 12:00 ET−1 and closed at 1501.5 by 12:00 ET the same day. The price reached a high of 1505.6 and a low of 1491.4, with a total volume of 1,141,856 units and a notional turnover of ~$1.72 billion (assuming 1 USDT = $1). The pair displayed mixed signals during the day but closed with positive momentum.

Structure & Formations

The 24-hour chart showed a key support cluster between 1496.3 and 1498.0, where the price bounced multiple times. A bullish engulfing pattern formed around 01:15–01:30 ET, followed by a series of higher lows after 04:00 ET. A doji appeared at 06:00 ET, signaling indecision, but the price resumed upward momentum later.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed above the price late in the session, confirming a bullish bias. The daily chart remains neutral, with the 50-day MA at 1496.2, aligning with the key support level observed in the recent action.

MACD & RSI

The MACD crossed above the zero line after 01:00 ET and maintained a positive reading throughout the morning, confirming bullish momentum. The RSI climbed into overbought territory (75–85) in the final 3 hours of trading, suggesting the price may consolidate or correct slightly in the short term.

Bollinger Bands

Volatility expanded in the early hours before stabilizing. The price traded near the upper Bollinger Band between 01:00–05:00 ET, and then returned to the middle band by 06:00 ET, indicating a balanced trading range.

Volume & Turnover

Volume remained consistent throughout the day, with a notable spike in the final 6 hours. Notional turnover mirrored volume activity, with the highest turnover occurring around the 09:45–10:00 ET time frame. There was no divergence between volume and price, supporting the reliability of the recent bullish move.

Fibonacci Retracements

The most recent 15-minute swing high was at 1505.6, with the 61.8% Fibonacci level at 1499.6, which coincides with a key consolidation area. On the daily chart, the 38.2% retracement level of the previous week’s range sits at 1498.4, also a recent pivot point.

Backtest Hypothesis

For a backtest strategy using RSI as a trigger, the recent action in USDTARS aligns with the proposed parameters. A buy signal would have been generated when RSI exceeded 70, which occurred around 09:45–10:00 ET. Holding the position for 3 days would have captured a 0.45–0.65% gain before a possible consolidation phase. However, the RSI overbought reading late in the day may indicate caution for short-term traders. For similar assets where RSI data is unavailable, volume and price action, as seen in USDTARS, can provide a reliable proxy for momentum shifts.