Market Overview for Tether/Argentine Peso (USDTARS): 24-Hour Summary as of 2025-11-02

• Price action drifted downward after an early bullish push, closing near session lows.• Volume and turnover remained moderate with no divergences noted in price-action vs. volume.• Momentum indicators suggest oversold conditions at close, hinting at potential near-term reversal.• Volatility has been constrained, with price clustering around a narrow range in the final hours.• No strong candlestick patterns emerged; trend direction appears to be in flux.

Tether/Argentine Peso (USDTARS) opened at 1499.6 on 2025-11-01 12:00 ET and closed at 1492.1 by 2025-11-02 12:00 ET. The pair reached a high of 1501.6 and a low of 1490.5 during the 24-hour window. Total volume amounted to 481,840.0 units, while notional turnover stood at 711,010.1 ARS. The pair appears to be consolidating after a mid-session rebound attempt failed to regain higher ground.

Structure & Formations

The 24-hour OHLCV data shows a bearish bias, with price repeatedly testing and failing to break above key resistance levels, such as 1500.0 and 1497.5. Notable bearish engulfing patterns appeared around 2025-11-01 17:30 and 2025-11-02 10:30, signaling exhaustion in bullish momentum. A small bearish doji formed near 1497.0, which may signal indecision in the short term.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages remain bearish, with the 20SMA below the 50SMA in a bearish crossover. On the daily chart, the 50-period MA sits below the 100- and 200-period MAs, reinforcing the medium-term bearish bias. Price action appears to be under the influence of the 50- and 200-period MAs, with the 200SMA acting as a key long-term support level.

MACD & RSI

The MACD histogram turned negative for the majority of the session, indicating a lack of bullish momentum. A bearish crossover occurred in the morning, aligning with the price breakdown. RSI reached oversold territory near 30 in the final hours, which could indicate a short-term bounce in the next 24 hours. However, RSI has not shown a strong bullish divergence, so the bearish bias remains intact.

Bollinger Bands

Volatility remained relatively low, with the Bollinger Bands narrowing for much of the session. In the final hours, volatility expanded slightly, and price closed near the lower band, suggesting that the market may be at a potential turning point. A rebound above the middle band would be a key trigger for a short-term reversal.

Volume & Turnover

Volume remained steady throughout the session, with no spikes observed in the last 4 hours. Notional turnover also stayed within a narrow range, indicating limited conviction in either direction. Price and turnover were in alignment, with no significant divergences that would suggest a bear trap or a bullish breakout.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing high at 1501.6 and low at 1490.5, the 38.2% and 61.8% levels are at 1498.7 and 1495.2 respectively. The current close at 1492.1 suggests the price may be testing the 61.8% level as a potential near-term support. A break below 1495.2 could trigger further declines toward 1490.5, the prior low.

Backtest Hypothesis

A potential backtest could explore the effectiveness of a MACD crossover strategy using the 15-minute timeframe for USDTARS. Given the bearish momentum observed over the past 24 hours, a strategy that goes short on a bearish MACD crossover and closes the position on a bullish MACD crossover could be tested. The strategy would likely need to incorporate a stop-loss above key resistance levels (e.g., 1497.5 to 1500.0) to manage risk. RSI conditions could also be used to filter false signals, with entries only taken when RSI is not in overbought territory. Testing this hypothesis would require historical MACD data for USDTARS, ideally over a 6–12 month period, to assess profitability and drawdowns under varying volatility conditions.