Market Overview for Tether/Colombian Peso (USDTCOP)

• Price surged to 3864 COP at 13:45 ET before retreating to 3854 COP by 16:00 ET.
• RSI indicates overbought levels early in the session, with a pullback into neutral territory.
• Volume spiked during the 13:45–14:15 ET rally, confirming short-term bullish momentum.
• Bollinger Bands showed a recent expansion, suggesting heightened volatility.
• A bullish engulfing pattern emerged at 13:30 ET, followed by a bearish reversal at 15:30 ET.

Tether/Colombian Peso (USDTCOP) opened at 3835 COP on 2025-10-08 12:00 ET, surged to 3866 COP, and closed at 3854 COP on 2025-10-09 12:00 ET. Total 24-hour volume reached 364,794 units, with a notional turnover of 1,398,581,620 COP. Price formed a bullish engulfing pattern during a mid-day rally, but bearish momentum emerged later.

Structure & Formations

USDTCOP displayed a strong bullish impulse from 3835 COP to 3866 COP, capped by a bearish reversal at 15:30 ET. Key support levels formed around 3845–3846 COP, with a minor resistance at 3858–3860 COP. A doji pattern appeared around 3850 COP at 12:30 ET, signaling potential indecision. A bullish engulfing pattern at 13:30 ET confirmed short-term strength, followed by a bearish hammer at 15:45 ET, hinting at exhaustion.

Moving Averages

The 20- and 50-period moving averages on the 15-minute chart crossed near 3845–3847 COP, confirming a bullish crossover early in the session. However, a bearish crossover emerged by 15:30 ET, aligning with the price pullback. On a broader scale, the 50-period daily MA remains above the 200-day MA, supporting a longer-term bullish bias.

MACD & RSI

The MACD line surged from -6 to +20, aligning with the 13:30–14:15 ET rally before diverging from price as the MACD histogram flattened. RSI reached 70 at 13:45 ET, indicating overbought conditions, and retreated to mid-50s by 15:45 ET. The RSI divergence suggests weakening momentum, particularly as price moved lower after the 15:00 ET peak.

Bollinger Bands

Bollinger Bands expanded from a 13-point range to over 18 points during the 13:45–14:30 ET period, indicating rising volatility. Price moved above the upper band at 3864 COP, but a sharp retrace brought it back within the band by 16:00 ET. The bands now sit around 3852–3858 COP, with price currently at the midline, suggesting a balanced short-term outlook.

Volume & Turnover

Volume increased from 2,000 units at 12:00 ET to a peak of 13,136 units at 13:30 ET during the bullish move. Notional turnover followed a similar trend, rising to 50 million COP at 13:45 ET. The divergence between price and volume during the 15:00–16:00 ET decline suggests weaker follow-through, increasing bearish risk.

Fibonacci Retracements

Fibonacci retracements from the 3832–3866 COP move show the 38.2% level at 3853 COP and the 61.8% level at 3845 COP. Price tested the 38.2% level at 15:30 ET and failed to hold, suggesting it may be a temporary ceiling. The 61.8% level is forming as a strong support, with price testing it twice in the last 4 hours.

Backtest Hypothesis

The backtest strategy involves identifying bullish engulfing patterns on 15-minute charts and entering long positions at the close of the engulfing candle, with a stop-loss placed below the pattern’s low and a take-profit at the 38.2% Fibonacci retracement. This strategy aligns with the USDTCOP’s recent 13:30 ET bullish engulfing formation and the subsequent move to 3864 COP, validating its potential effectiveness in high-volatility environments.