Market Overview for Tether/Colombian Peso (USDTCOP) – 2025-11-13

Summary
• Price closed marginally lower at 3712, opening at 3712 with a high of 3726 and low of 3707.
• Momentum weakened toward the close, with RSI suggesting overbought conditions at 77.
• Volatility increased mid-session, with volume peaking at 10,635 units.

Tether/Colombian Peso (USDTCOP) traded within a relatively narrow range on 2025-11-13, with a 24-hour open of 3712, high of 3726, low of 3707, and close of 3712. The total volume for the period was 138,606 units, while the notional turnover amounted to ~COP 497.6 million (approx. USD 133,500, at COP 3730/USD). The session exhibited moderate volatility, with price oscillating between key support and resistance levels.

The 15-minute chart showed a 20-period moving average above the 50-period, suggesting short-term bullish momentum, though the 50-period was trending downward. The 50-period daily MA was neutral, aligning with the 100-period but below the 200-period, indicating a potential consolidation phase. Price tested the 3720–3724 level several times, which acted as both resistance and support depending on the time frame. A bearish divergence in RSI was observed during the afternoon, hinting at weakening buying pressure.

MACD showed a flattening histogram during the latter half of the session, with the line below zero, indicating bearish momentum. RSI reached 77 mid-session, suggesting overbought conditions, but failed to break above 80, limiting the strength of the rally. Bollinger Bands widened during the evening, reflecting increased volatility. Price tended to cluster near the mid-band, suggesting a lack of directional bias.

Fibonacci retracement levels on the 15-minute chart indicated that the 3720–3707 swing could act as a pivot for the next 24 hours. The 61.8% level sits near 3715, which is likely to be a key resistance level. Volume and turnover data showed a moderate increase in activity during the late night hours, though prices drifted lower. A divergence between volume and price action suggested potential exhaustion of the upward move.

Backtest Hypothesis
The backtest strategy relies on identifying Bullish Engulfing patterns in USDTCOP and testing a 1-day holding strategy from 2022-01-01 to present. Due to data limitations, the correct symbol format is critical—confirming whether to use “USDCOP,” “USD/COP,” or another identifier will determine the accuracy of pattern detection. Once resolved, the strategy will be backtested using historical OHLCV data, with a focus on entry/exit performance, win rate, and risk-adjusted returns.