Market Overview for Ethereum/Argentine Peso (ETHARS) – 24-Hour Summary (2025-10-14)

• Ethereum/Argentine Peso (ETHARS) dropped 5.3% over the last 24 hours amid bearish momentum and fading volume.
• Price broke below a key 15-minute support level (~5.93M ARS) and entered a consolidation phase.
• RSI is in oversold territory, but divergence between volume and price raises uncertainty.
• A 38.2% Fibonacci retracement aligns with 5.62M ARS; key resistance appears at 5.91M ARS.
• MACD remains negative, indicating weak bullish conviction and potential for extended bearish movement.

The Ethereum/Argentine Peso (ETHARS) pair opened at 5,950,740.00 ARS on 2025-10-13 at 12:00 ET and closed at 5,695,060.00 ARS on 2025-10-14 at 12:00 ET, recording a 24-hour low of 5,598,167.00 ARS and high of 6,129,564.00 ARS. Total traded volume was 4.91 ETH, with a notional turnover of approximately 31,059,231.00 ARS.

On the 15-minute OHLCV data, ETHARS formed a bearish continuation pattern after a failed bounce above 5.93M ARS. Key support levels emerged at 5.726M and 5.62M ARS, while resistance held at 5.91M and 5.93M ARS. A notable bearish engulfing pattern appeared at 19:30 ET, reinforcing the downward bias. The 20-period EMA on the 15-minute chart fell below the 50-period EMA, confirming the bearish bias.

MACD remained in negative territory throughout, with the histogram showing decreasing bearish momentum toward the end of the 24-hour window. RSI dipped below 30, indicating oversold conditions, though a divergence formed between RSI and price as volume waned near the 24-hour close. Bollinger Bands showed a slight contraction late in the session, suggesting a potential breakout in either direction.

Fibonacci retracements on the most recent 15-minute move from 5,931,136.00 ARS (low) to 6,129,564.00 ARS (high) identified 5,726,000.00 ARS as a 38.2% retracement level and 5,618,380.00 ARS as a 61.8% retracement level. These levels could act as key support zones for ETHARS in the coming 24 hours.

The backtesting strategy proposed centers on detecting a Bearish-Engulfing pattern on the daily chart for ETHARS. This pattern is typically used to signal a potential short-sell entry. Given the current dataset is specific to a 15-minute OHLCV format and limited in historical depth, backtesting would need a synthetic ETHARS price series. This could be constructed by combining ETH/USD and USD/ARS historical exchange rates. Once the synthetic series is available, the Bearish-Engulfing pattern can be tested for predictive power over a holding period of one daily candle. The backtesting results would validate whether this pattern reliably signals bearish reversals on ETHARS under current market conditions.