Market Overview for Tether/Argentine Peso (USDTARS): 24-Hour Price Action and Momentum

• USDTARS surged from 1552.2 to a 24-hour peak of 1569.9 before consolidating near 1568.1.
• Strong bullish momentum in early hours, followed by sideways consolidation in late ET.
• Volatility expanded during the rally, with volume peaking at 54,543 units during a sharp sell-off.
• RSI remains neutral, indicating no immediate overbought/oversold conditions.
• Price appears to be consolidating around a new 1565–1568 resistance cluster.

The Tether/Argentine Peso (USDTARS) pair opened at 1552.2 at 12:00 ET-1 and surged to a high of 1569.9 before closing at 1568.1 at 12:00 ET on 2025-09-20. The 24-hour low was 1547.2. Total volume reached 605,146.0, with a notional turnover of approximately 944,830,181.6 (price * volume). The pair has shown strong early bullish momentum, followed by a pullback and consolidation.

Structure & Formations

Price initially surged above key resistance at 1560, forming multiple bullish continuation patterns including a bullish harami and a morning star. A strong bearish reversal candle formed at 1569.9, signaling caution in the short term. Key support levels appear to be forming at 1565 and 1562.4, with resistance clustering around 1568–1569.5.

Moving Averages

On the 15-minute chart, price broke above the 20-period and 50-period moving averages in the morning, confirming the bullish trend. However, in the last 6 hours, price has pulled back and is now hovering near the 50-period MA, indicating potential consolidation. On the daily chart, price remains above the 50- and 100-period MAs but below the 200-period MA, suggesting a mixed short- and long-term outlook.

MACD & RSI

The MACD turned positive in the morning and reached a high before declining into neutral territory, indicating weakening momentum. RSI remains in the neutral range (55–65), signaling no immediate overbought or oversold conditions. However, divergence between price and RSI in the late ET session suggests caution ahead.

Bollinger Bands

Volatility expanded significantly during the morning rally, with price breaching the upper Bollinger Band at 1569.9 before retreating. Price has since consolidated within the bands, suggesting a period of indecision. A potential break above 1569.5 could trigger a new wave of momentum, while a retest of the lower band at 1562.4 may be key.

Volume & Turnover

Volume spiked during the morning rally and the late ET sell-off, particularly at 1569.9 (volume of 15,805) and during the sharp drop to 1562.4 (volume of 54,543). Notional turnover increased in tandem with price action, confirming the strength of the move. However, volume has since declined, indicating reduced conviction in the current trend.

Fibonacci Retracements

On the 15-minute chart, price pulled back from the 1569.9 high and retested the 61.8% retracement level at 1565.5, before consolidating. The 38.2% retracement level at 1567.5 may offer near-term support or resistance. On the daily chart, a larger Fibonacci retracement from the 1547.2 low suggests a potential target at 1575.3 if the current rally continues.

Backtest Hypothesis

A potential backtest strategy could involve entering long positions when price breaks above the 50-period moving average on the 15-minute chart, confirmed by a bullish candlestick pattern such as a morning star or a bullish harami. An initial stop-loss could be placed just below the 1565 support level. For profit-taking, a target might be set at the 1569.5 resistance or the 61.8% Fibonacci level. The volume and RSI indicators should be used to confirm strength, with divergence signals serving as early warnings for trend exhaustion.