Market Overview: Ethereum/Argentine Peso (ETHARS) – 24-Hour Analysis

• ETHARS opened at 6,974,998 and closed at 6,874,486, down ~1.45% on 15-minute data.
• Price saw a strong bearish reversal at 6,678,810, with volume surging to 0.75074 during that candle.
• Volatility spiked in the late afternoon, with a high of 7,051,287 before a sharp decline.
• RSI signaled overbought conditions around midday before reversing into oversold territory.
• Turnover diverged from price near the 24-hour low, suggesting potential accumulation.

Ethereum/Argentine Peso (ETHARS) opened at 6,974,998 on 2025-10-07 at 12:00 ET and closed at 6,874,486 at 12:00 ET the next day. The pair reached a high of 7,051,287 and a low of 6,678,810, with a total traded volume of 6.69494 and a notional turnover of 46.67 million ARS over the period.

The 24-hour chart for ETHARS showed a bearish bias, with a clear breakdown from an early support level at ~6,874,486 into a lower low of 6,678,810. This breakdown was confirmed by a large bearish candle at 17:30 ET, which saw a 0.75074 volume spike. The price then stabilized within a range between 6,836,906 and 6,879,568 before another sharp bearish move at the close. Notable support levels include 6,801,749 and 6,792,227, while resistance is forming at 6,850,000 and 6,874,619.

The 20-period and 50-period moving averages on the 15-minute chart showed a bearish crossover late in the session, reinforcing the downward trend. On the daily chart, the 50-period and 200-period moving averages are both above the current price, indicating a longer-term bearish bias. The 15-minute chart also showed a contraction in Bollinger Bands just before the large bearish candle, suggesting a buildup in volatility before the move down. ETHARS closed near the lower band on the final hour, indicating heightened downside pressure.

MACD showed a bearish divergence in the afternoon, with the line crossing below the signal line after a brief period of overbought conditions. RSI moved into oversold territory around the 6,792,227 level, raising the potential for a short-term bounce. Fibonacci retracement levels from the 6,678,810 to 7,051,287 swing highlight key levels at 6,796,310 (38.2%) and 6,861,365 (61.8%), with ETHARS currently testing the 6,801,749 level. The price could retest these levels in the next 24 hours.

Backtest Hypothesis: A potential strategy could be to short ETHARS on a close below the 6,801,749 support level with a stop loss above the 6,850,000 resistance and a target at 6,760,000, using the 50-period moving average as a dynamic exit point. This aligns with the bearish momentum confirmed by MACD and Fibonacci levels.