Market Overview for Tether/Colombian Peso (USDTCOP)

• Price rose from 3,840 to 3,868 with late-day strength, closing near session highs.
• Momentum shifted from morning consolidation to afternoon breakout above key levels.
• Volume remained moderate but increased with price action toward the end of the session.
• RSI indicated overbought conditions in the final hours, suggesting potential pullback.
• Bollinger Bands showed a mild expansion, reflecting increased short-term volatility.

Over the 24-hour period from 2025-09-15 12:00 ET to 2025-09-16 12:00 ET, Tether/Colombian Peso (USDTCOP) opened at 3,840 and closed at 3,868, reaching a high of 3,868 and a low of 3,840. Total volume was 223,103 units with a notional turnover of 848,112,714 COP. The pair showed a bullish breakout in the late afternoon and early evening.

Structure & Formations

Price action revealed a textbook bullish breakout with a strong close near the session high. Key support levels were formed around 3,850 and 3,845, which held multiple times during the day. A bullish engulfing pattern emerged between 17:00 and 17:15 ET, followed by a continuation of higher highs and a 15-minute doji at 03:30 ET, indicating temporary indecision before another push higher. A strong bullish trend became apparent after the 23:30 ET candle, confirming the shift in sentiment.

Moving Averages and Momentum

The 15-minute 20-period and 50-period moving averages showed a positive crossover at 03:00 ET, reinforcing the bullish bias. By the end of the session, price had remained above the 50-period line, suggesting a continuation of the upward trend. MACD turned positive at 00:30 ET and remained elevated until the end of the session, indicating sustained buying momentum. RSI reached overbought territory (75+) at 06:30 ET, suggesting the potential for a retracement or consolidation phase.

Bollinger Bands and Volatility

Bollinger Bands showed a mild expansion starting at 00:15 ET, with the price moving from within the bands toward the upper band by the end of the session. This indicated rising volatility as the trend took hold. Price action stayed within a healthy range between the bands without breaching the upper band, suggesting the trend remains intact and is not in overbought territory yet.

Volume and Turnover Analysis

Volume increased steadily in the late evening and early morning, aligning with the price breakout and confirming the strength of the move. Notional turnover also rose in tandem with price, particularly between 02:45 and 04:30 ET, where large-volume candles confirmed the trend continuation. A divergence was noted at 05:30 ET, where a lower high coincided with reduced volume, suggesting possible exhaustion, but the trend continued with strong volume in the following hour.

Fibonacci Retracements

Fibonacci retracement levels from the 17:00 to 00:00 ET swing showed that the 61.8% level (3,856) acted as a strong support before the price continued its rise. The final push from 02:45 ET to 12:00 ET reached the 61.8% level of the morning consolidation (3,868), which appears to be a new short-term resistance. A test of the 78.6% level is expected in the coming hours if the trend holds.

Backtest Hypothesis

A potential backtest strategy for USDTCOP could involve entering long positions at the 61.8% Fibonacci level following a bullish engulfing pattern and 20/50 EMA crossover. Stops could be placed below the previous 15-minute low (3,850–3,853), while profit targets align with the next Fibonacci extension (78.6%) and the upper Bollinger Band. This setup would aim to capture continuation momentum in trending environments, with position sizing based on volatility and volume confirmation. Given the recent pattern and momentum, a long bias seems viable for the next 24 hours.