Market Overview for Ethereum/Argentine Peso (ETHARS) as of 2025-10-03

• ETHARS traded in a volatile 24-hour range, reaching a high of 6,966,778 and a low of 6,735,109.
• A bearish trend emerged after a key high at 6,966,778, with price consolidating near 6,824,314.
• Volume spiked during the 18:30 ET hour, signaling heightened interest during a price rally.
• RSI indicates overbought conditions during the 03:15 ET surge, followed by a bearish correction.
• Bollinger Bands show increasing volatility with price testing the upper band before correcting sharply.

Ethereum/Argentine Peso (ETHARS) opened at 6,829,547 on 2025-10-02 at 12:00 ET and closed at 6,824,314 the following day. The pair reached a high of 6,966,778 and a low of 6,735,109, with total volume of 7.07641 and turnover of 4,793,809,565,000 (ARS-equivalent). Price activity was marked by sharp swings and bearish exhaustion following an overbought RSI peak.

Structure & Formations

Price traced an initial bullish wave from 6,829,547 to 6,966,778, followed by a sharp retracement and consolidation near 6,824,314. A key resistance at 6,957,535 was broken and retested, forming a bearish fractal. A doji formed near the 6,824,314 level at 07:45 ET, signaling indecision and potential exhaustion. Support levels at 6,850,716 and 6,824,314 appear significant, with the latter showing a potential pivot point for near-term buyers.

Moving Averages

The 15-minute chart shows ETHARS closing below both the 20 and 50-period moving averages, confirming a bearish bias. The daily 50 and 100-period moving averages are aligned in a bearish crossover, suggesting continued downward pressure unless a strong rebound from 6,824,314 occurs. The 200-period daily MA lies well above current levels, indicating a long-term bearish trend.

MACD & RSI

MACD lines show bearish divergence during the 03:15 ET rally, with the histogram collapsing after a strong positive signal. RSI peaked at overbought conditions (80+) during the 03:15 ET high, followed by a rapid sell-off confirming bearish momentum. RSI remains below 50, signaling a likely continuation of downward momentum unless a decisive reversal occurs above 6,850,716.

Bollinger Bands

Volatility expanded sharply during the 03:15 ET rally, with price touching the upper band before collapsing to the lower band. This contraction and expansion sequence suggests a potential turning point in volatility. Price currently sits near the lower Bollinger Band, indicating oversold conditions that may invite short-covering or long entry if the 6,824,314 level holds.

Volume & Turnover

Trading volume spiked at 03:15 ET with a volume of 0.37804 and again at 18:30 ET, where volume reached 0.53618. These spikes coincided with strong price movements: a rally and a consolidation, respectively. Notional turnover increased during the 03:15 ET rally, confirming the strength of the move before the subsequent bearish correction. Divergence is observed at 07:30 ET when price fell to 6,824,314, but turnover remained low, suggesting weak conviction in the bearish move.

Fibonacci Retracements

Fibonacci levels for the recent 15-minute swing from 6,735,109 to 6,966,778 show ETHARS currently near the 61.8% retracement level of 6,842,518. The 38.2% level at 6,876,637 appears to have acted as resistance during the consolidation. On the daily chart, price is near the 61.8% retracement level of a larger bearish move from 6,966,778, further supporting the potential for a rebound near 6,824,314.

Backtest Hypothesis

The provided backtest strategy relies on identifying bearish divergences in RSI and MACD during overbought conditions, with a confirmation on a close below a key support level. This approach aligns with the 03:15 ET high, where RSI reached overbought territory, followed by a bearish MACD divergence and a close below the 6,850,716 level. A potential buy signal may be triggered if ETHARS bounces from the 6,824,314 support with a bullish engulfing candle and RSI above 50. Traders using this strategy would benefit from setting stop-loss levels just below 6,824,314 and a take-profit target near 6,876,637.