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

• Price edged higher in early ET hours before reversing with strong selling into the close.
• Intraday volatility peaked at 3866 COP, but failed to hold above 3862 COP in late ET sessions.
• Volume declined steadily after 04:00 ET, coinciding with a bearish trend reversal in momentum.
• RSI signaled overbought conditions twice, but price failed to retest key resistance.
• Bollinger Band compression in the overnight session foreshadowed morning’s sharp move lower.

At 12:00 ET on October 7, 2025, USDTCOP opened at 3844 COP, reached an intraday high of 3866 COP, and closed at 3844 COP at 12:00 ET the next day. The 24-hour volume totaled 440,964.0 units with a notional turnover of 1,697,720,767 COP (calculated from OHLCV data). Price formation showed a bullish morning push followed by a bearish afternoon reversal, with key resistance at 3862 COP and support at 3833 COP.

Structure & Formations

Price formed a bearish engulfing pattern at 21:30–22:00 ET as it closed below the prior candle’s body after reaching 3861 COP. This was followed by a series of bearish hammers and lower highs from 01:30–09:00 ET. Key resistance levels emerged around 3862–3866 COP, while support was confirmed at 3833 COP and 3842 COP during the final hours of the 24-hour window. A doji formed at 07:30–07:45 ET, hinting at indecision in a consolidation phase ahead of the final decline.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart diverged in the early morning, with price trading above both before falling below the 50-period line after 20:00 ET. On a longer time frame, the 50-period daily moving average sits just below 3850 COP, while the 200-period line is closer to 3840 COP. This suggests that USDTCOP may continue to trade in a tight range between the 50- and 200-day lines in the near term.

MACD & RSI

The MACD line crossed below the signal line at 22:00 ET, confirming a bearish momentum shift that persisted through the close. RSI peaked at 69–71 on two occasions, signaling overbought conditions that failed to lead to higher prices. The oscillator later dipped below 50 before dropping into the 44–46 range, suggesting exhaustion in the bearish move. These signals point to a possible short-term consolidation phase rather than a decisive reversal.

Bollinger Bands

Bollinger Band contraction was most notable between 00:00–04:00 ET as price hovered near the midline. This was followed by a sharp break higher to the upper band (3866 COP), only to reverse and close near the midline again. The band width expanded in the morning hours, reflecting increased volatility, but contracted again in the final hours of the 24-hour window, aligning with the declining momentum.

Volume & Turnover

The highest volume spike occurred at 21:30–21:45 ET, as traders pushed the price up to 3861 COP, but failed to maintain it. The following 3–4 hours saw a steady decline in volume, coinciding with the bearish reversal. Notional turnover peaked at 3866 COP, with a total turnover of 1,697,720,767 COP. Divergences between volume and price were most apparent after 04:00 ET, when the price continued to fall despite thinning volumes.

Fibonacci Retracements

Applying Fibonacci levels to the 15-minute swing high (3866 COP) and low (3833 COP), the 38.2% and 61.8% retracements fell at approximately 3857 COP and 3850 COP. Price tested the 3857 level multiple times but failed to hold above it. The 61.8% level appears to have acted as a minor support, as price found a bottom at 3842 COP and rebounded slightly in the final hours.

Backtest Hypothesis

If a backtesting strategy were applied using the 50-period moving average and RSI (14) as entry signals, long positions might have been triggered at 3850–3852 COP during the morning rally. Short positions could have been opened after 22:00 ET when the MACD crossed below the signal line and RSI fell below 50. A trailing stop loss near 3842 COP would have preserved gains from the bearish move, aligning with the observed price behavior and technical indicators.