Market Overview for Tether/Colombian Peso (USDTCOP) – 24-Hour Summary

• The USDTCOP pair traded in a tight range during early hours before showing a downward bias late in the day.
• Key support levels appear near 3835–3836, with rejection and consolidation observed in this area.
• Volatility picked up in the morning with a sharp drop from 3851 to 3831, followed by a recovery.
• Momentum indicators suggest a potential oversold condition, but volume did not confirm the bearish move.
• Bollinger Bands showed a contraction at midday, indicating possible consolidation ahead of a breakout.

Tether/Colombian Peso (USDTCOP) opened at 3842 on 2025-09-12 12:00 ET, touched a high of 3853, and a low of 3821 before closing at 3850 on 2025-09-13 12:00 ET. Total volume for the 24-hour period was 288,879.0 units, with notional turnover amounting to COP 878,141,000. The pair displayed a bearish bias in the early morning, followed by a consolidation phase and a modest recovery in the afternoon.

Structure & Formations

The 15-minute chart shows a series of bullish and bearish reversals, particularly between 09:00 and 10:45 ET, where the price tested key support around 3835–3836 multiple times. A bearish engulfing pattern was observed around 00:15–00:45 ET as the price fell from 3838 to 3827. Later in the day, a bullish reversal emerged as USDTCOP bounced off 3830 with a hammer formation forming at 02:30 ET. These patterns suggest possible short-term volatility and price uncertainty.

Moving Averages

On the 15-minute chart, the price hovered above the 20-period moving average (SMA) most of the day, indicating a mild bullish bias, though it dropped below the 50-period SMA during the overnight sell-off. On a daily chart, the 50-period SMA is at 3845, while the 200-period SMA sits at 3838—suggesting the pair may be consolidating between these levels. If the price breaks the 50-period SMA to the upside, it may indicate a stronger bullish signal.

MACD & RSI

The 15-minute MACD histogram showed bearish divergence in the early morning hours as the price fell, with the MACD line dipping below the signal line. However, the RSI bottomed out near 30, indicating an oversold condition, followed by a modest recovery. This suggests that the downward move may be nearing a pause or reversal. The RSI remains in neutral to slightly overbought territory in the afternoon, suggesting that a short-term pullback could be in play.

Bollinger Bands

Bollinger Bands showed a narrowing at midday as the price moved within a tight range, indicating a period of consolidation. Price action then broke below the lower band during the overnight sell-off, suggesting a bearish impulse. However, the price has since recovered and is currently sitting near the middle band, which could imply a period of indecision ahead. Traders may watch for a retest of the lower band or a breakout above the upper band for further direction.

Volume & Turnover

Volume spiked during the overnight drop, with high trading activity observed between 00:15 and 02:30 ET. This was accompanied by a significant drop in price, suggesting genuine bearish pressure. However, volume dropped off during the recovery phase, indicating that buyers were not aggressive enough to push the price above key resistance levels. A divergence between price and volume may suggest a potential reversal or consolidation ahead.

Fibonacci Retracements

Applying Fibonacci retracement levels to the overnight move from 3853 to 3821, the 38.2% level is at 3844 and the 61.8% level is at 3834. The price found support near the 61.8% retracement level in the morning and again in the afternoon, suggesting this area could be a key zone for further consolidation or a potential reversal. A break above 3844 may indicate a return to bullish territory.

Backtest Hypothesis

Given the bearish engulfing pattern at 00:15–00:45 ET and the subsequent bounce from the 61.8% Fibonacci level, a backtesting strategy could involve entering a short position at 3835 with a stop loss above 3845 and a target at 3825. A long position could be considered on a breakout above 3844, with a stop loss below 3833. This approach would leverage the observed volatility and key support/resistance levels to capture directional movement based on confirmed patterns and volume behavior.