Market Overview for Tether/Mexican Peso (USDTMXN) – 2025-11-10

• Price consolidated near 18.50 with minimal directional bias.
• On-balance volume was uneven but showed no clear divergence.
• Volatility remained narrow, with price staying near the mid-range of Bollinger Bands.
• No strong momentum signals emerged from RSI or MACD.
• A bullish engulfing pattern formed early in the day but lacked follow-through.

Price and Volume at a Glance

The Tether/Mexican Peso (USDTMXN) opened at 18.47 on 2025-11-09 12:00 ET, touched a high of 18.51, a low of 18.45, and closed at 18.50 on 2025-11-10 12:00 ET. Total 24-hour trading volume was 167,888 units, while turnover amounted to approximately MXN 3,059,913, reflecting moderate activity with no significant spikes in liquidity.

Structure and Candlestick Formations

The price action showed a consolidation phase centered around 18.50. A bullish engulfing pattern appeared around 19:30–20:00 ET (2025-11-09) as price opened at 18.49 and closed at 18.50 after forming a low of 18.49. However, the pattern was not followed by a sustained upward move. Later in the session, the price tested key resistance at 18.51 but failed to break through. On the lower end, support at 18.49 held multiple times, suggesting a balanced market.

Moving Averages and Momentum

On the 15-minute chart, the 20- and 50-period moving averages were closely aligned near 18.49–18.50, reflecting a neutral bias. Daily moving averages (50, 100, 200) suggested no significant change in the medium-term trend. The MACD showed flat to slightly positive momentum, with the signal line tracking closely. RSI remained within the 50–55 range, indicating a lack of strong overbought or oversold conditions.

Volatility and Fibonacci Retracements

Volatility, as measured by the width of Bollinger Bands, remained narrow, suggesting a low-risk range-trading environment. The price spent most of the session near the mid-band, which aligns with the consolidation. Applying Fibonacci retracement levels to the 18.45–18.51 swing, the 61.8% level sits at 18.49, acting as a key dynamic support. The 38.2% level at 18.50 served as a short-term resistance that was tested multiple times.

Backtest Hypothesis

A potential backtest hypothesis would involve evaluating the predictive power of the bullish engulfing pattern identified around 19:30–20:00 ET. If a strategy were designed to enter long positions on such patterns confirmed by above-average volume and RSI above 50, it could be backtested over a defined time frame (e.g., 2022–2025) to assess profitability and risk-reward ratios. Such a strategy might serve as a useful addition to a structured trading system for minor currencies like USDTMXN.