Market Overview for Ethereum/Argentine Peso (ETHARS) on 2025-10-11

• ETHARS opened at 6,204,347 and closed at 5,842,216, with a 24-hour low of 5,198,056 and high of 6,939,895
• Price experienced a sharp decline of over 15% during a 45-minute window, with volume spiking near 2.09
• RSI reached oversold levels below 30, suggesting possible near-term rebound potential
• Volatility spiked mid-session as Bollinger Bands widened, but price remained within the band range
• A bullish hammer pattern emerged near 5,740,000, indicating potential short-term support

Ethereum/Argentine Peso (ETHARS) opened at 6,204,347 on 2025-10-10 at 12:00 ET and closed at 5,842,216 at the same time on 2025-10-11. The pair reached a high of 6,939,895 and a low of 5,198,056 during the 24-hour period. Total traded volume was 10.94 ETH, with notional turnover reaching approximately 74.7 million ARS.

The 24-hour price action displayed a volatile bearish bias, particularly from 21:30 to 22:30 ET, when a sharp downward move of over 15% was observed. This was confirmed by a significant volume spike of 2.09 ETH, suggesting strong conviction in the bearish move. The price eventually found some support around 5,740,000, where it consolidated for several hours. A bullish hammer candle formed during this consolidation phase, indicating potential short-term support. Key resistance levels appear at 6,100,000 and 6,300,000, while critical support is located near 5,740,000 and 5,400,000.

Moving averages on the 15-minute chart showed a steep divergence, with the 20-period MA well above the 50-period MA, reinforcing the bearish momentum. On the daily chart, the 50-period MA is above the 100-period MA, aligning with a longer-term bearish bias, though the 200-period MA remains distant, suggesting no strong bearish trend in the broader context. Price closed below both the 20 and 50-period MAs on the 15-minute chart, indicating ongoing bearish pressure.

MACD crossed below zero early in the session, confirming bearish momentum, and remained in negative territory for most of the day. RSI bottomed out below 30 in the final hours of the session, indicating potential for a near-term bounce. Bollinger Bands showed a sharp expansion during the bearish wave but have since narrowed, suggesting a potential consolidation phase. ETHARS is currently hovering near the middle band, with volatility expected to remain subdued if the price remains within the band range. A break below the lower band would signal further bearish bias, but for now, the pair appears to be in a defined trading range.

The backtesting strategy focuses on a volume-weighted breakout approach using 15-minute candles. A long entry is triggered when the close exceeds the prior 20-period high and volume exceeds the 20-period average by 2x. A short entry is triggered when the close drops below the prior 20-period low with volume above the 20-period average by 2x. Stop-loss is placed at the opposite breakout level, and take-profit is set at a 1:2 risk-reward ratio. In the case of ETHARS, the breakout threshold would need to exceed 6,940,000 for a long and drop below 5,198,000 for a short. Given the recent volatility and volume spikes, this strategy could have captured the sharp bearish move and potentially the retest of support levels. However, the strategy may underperform in a range-bound market or during periods of low liquidity.