Market Overview for Tether/Colombian Peso (USDTCOP) on 2025-10-07

• USDTCOP traded in a tight 15-minute range (3814–3826) early, consolidating ahead of a sharp 17:30 ET breakout.
• Price surged to 3846 by 15:45 ET, but closed at 3840, with volume peaking at 22,514 COP by 16:00 ET.
• RSI signaled overbought conditions during the peak, while MACD showed a bullish crossover at 15:30 ET.
• Volatility expanded during the bullish leg; Bollinger Bands widened as price moved above the 20-period SMA.
• A bearish divergence in the RSI and closing below 3843 suggests a possible pullback ahead.

Daily Price Summary

Tether/Colombian Peso (USDTCOP) opened at 3820 on 2025-10-06 at 12:00 ET, surged to a high of 3846, and closed at 3840 on 2025-10-07 at 12:00 ET. Total volume for the 24-hour period was 384,532 COP, with notional turnover reaching $115,359 (based on USDTCOP price).

The pair showed a strong bullish bias during the afternoon and evening hours, with a sharp breakout above 3830. This was confirmed by a strong volume spike at 15:30 ET and a subsequent rally to 3846. Price, however, failed to close above that level, suggesting buyers may be consolidating or facing resistance.

Structure & Formations

Price formed a bullish engulfing pattern at 17:30 ET, breaking above a prior consolidation range. After the rally, a bearish dark cloud cover was observed at 15:45–16:00 ET, as price closed lower after reaching a high of 3846. A small bearish doji formed at 16:00 ET, indicating indecision.

Key support levels emerged at 3835 and 3828, with 3814–3818 forming a prior consolidation area. Resistance is now at 3843–3846.

Moving Averages and Momentum

The 20- and 50-period SMAs on the 15-minute chart converged during the early breakout phase, providing a strong bullish signal. The 50-period MA rose from 3827 to 3838 during the session.

MACD crossed above the signal line at 15:30 ET, with a bullish histogram, but momentum began to wane by 16:00 ET. RSI reached overbought levels (78) at 15:30 ET but failed to sustain above 70, hinting at a possible pullback.

Bollinger Bands and Volatility

Volatility expanded significantly during the bullish breakout, with price surging above the upper Bollinger Band. By 15:30 ET, the bands had widened to reflect increased market activity. Price closed near the midpoint of the bands, indicating a potential shift in momentum.

Volume and Turnover

Volume spiked at 15:30 ET (8,967 COP), confirming the bullish breakout, and surged again at 16:00 ET with the largest 15-minute trade of 22,514 COP. Notional turnover increased during the bullish leg, but declined as price closed lower, indicating waning bullish conviction.

Fibonacci Retracements

The rally from 3821 to 3846 saw a 61.8% retracement level at 3834. Price closed near this level, suggesting it could now act as support or consolidation territory. On the daily chart, the 50% level of the previous range remains at 3830.

Backtest Hypothesis

A potential backtesting strategy could involve entering a long position at the 15:30 ET breakout, confirmed by a bullish MACD crossover and increased volume. A stop-loss could be placed just below 3830, with a target at the 3846 high. A short trade might open at the 16:00 ET doji, using the RSI divergence and closing below 3843 as a signal. This strategy leverages confirmed candlestick patterns, technical indicators, and volume confirmation for both entries.