Ethereum/Argentine Peso Market Overview (2025-09-10)

• ETHARS closed higher, forming a bullish reversal pattern near key support.
• Volume spiked in the final hours, confirming strength in the upward move.
• RSI suggests moderate momentum, while MACD turned positive, indicating potential for continuation.
• Price remains above the 20-period moving average, signaling short-term bullish bias.
• Volatility expanded during the session, with Bollinger Bands widening in the afternoon.

The Ethereum/Argentine Peso (ETHARS) pair opened at 6119053.00 at 12:00 ET–1 and closed at 6203529.00 at 12:00 ET, with a high of 6380087.00 and a low of 6119053.00. Total volume was 31.20219 ETH, and notional turnover reached approximately ARS 197.85 million over the 24-hour period. The session saw a significant upward shift, with price forming a bullish engulfing pattern late in the day, particularly in the final candle.

Structure & Formations

Price tested key support near 6119053.00 early in the session before reversing decisively higher. A notable bullish engulfing pattern emerged during the 15:00–15:15 candle on 2025-09-10, confirming a shift in sentiment. A series of small-range consolidation candles followed, creating a potential resistance at 6340724.00. A second test of this level, if it occurs, could confirm its strength.

A doji formed at 6309137.00 during the 15:45–16:00 ET interval, suggesting indecision near the upper Bollinger Band. This could act as a potential short-term ceiling, or a reversal if bulls manage to push through.

Moving Averages

On the 15-minute chart, price remains above the 20-period MA (~6162000.00) and 50-period MA (~6234000.00), indicating a strong short-term bullish bias. The 50-period MA crossed above the 20-period MA earlier in the session, a bullish signal for momentum traders. On the daily chart, the 50-period MA (~6210000.00) is currently near the 100-period MA (~6205000.00), with price hovering slightly above, reinforcing a constructive alignment for ETHARS.

Backtest Hypothesis

Given the convergence of the 50-period and 100-period MAs and the strong volume confirmation of the recent bullish reversal, a backtesting strategy could be built around long entries when price crosses above the 50-period MA, with a stop below the 20-period MA and a take-profit at the nearest Fibonacci 61.8% level. This aligns with the identified bullish patterns and suggests that a breakout from the 6309137.00 level could trigger further upside, with the 6340724.00 level as a key watchpoint.

MACD & RSI

The MACD line turned positive late in the session, crossing above the signal line and indicating a shift in momentum to the upside. The histogram expanded, confirming increasing bullish momentum. RSI currently sits at around 58–59, indicating moderate strength but not overbought conditions, leaving room for further upward movement without immediate signs of exhaustion. A close above 60 could signal stronger momentum, while a dip below 50 might indicate a loss of steam.

Bollinger Bands

Volatility expanded significantly during the session, with Bollinger Bands widening from ~6130000–6170000 to ~6280000–6350000. Price spent a significant portion of the day in the upper half of the bands, particularly after 14:00 ET. This suggests a continuation of the bullish trend. A move beyond the upper band could signal a potential breakout, though a retest of the lower band (~6230000) may be necessary to confirm the new volatility range.

Volume & Turnover

Volume increased sharply in the final hours of the session, with the largest candle (14:30–14:45 ET) recording 9.937 ETH traded, a significant portion of the total volume. Turnover spiked in line with these volume surges, indicating strong participation in the upward move. There was no notable divergence between price and turnover, suggesting the strength in the rally is genuine and not a false break.

Fibonacci Retracements

Fibonacci levels derived from the recent 15-minute swing low at 6119053.00 and high at 6380087.00 show key levels at 6271504.00 (38.2%) and 6335664.00 (61.8%). Price is currently approaching the 61.8% level, which, if cleared, could open the door to a test of the 6380087.00 resistance. A failure at 6335664.00 may prompt a consolidation phase or a pullback toward the 6271504.00 level for support.

The ETHARS pair appears to be in a strong bullish phase, supported by rising volume, positive momentum indicators, and key Fibonacci levels aligning with major resistance. While the immediate trend is favorable, investors should remain cautious about potential overextension beyond the 6380087.00 level. A sharp pullback or consolidation phase could follow if bears reassert control after a breakout attempt, especially given the rising volatility. Investors should closely monitor the 6335664.00 Fibonacci level as a key decision point for the next 24 hours.