Market Overview for Tether/Argentine Peso (USDTARS)

• Tether/Argentine Peso (USDTARS) declined by 2.8% in the last 24 hours, opening at 1435.0 and closing at 1432.1.
• Price found key resistance near 1435.0 and support near 1424.0, with bearish momentum visible in the latter half of the day.
• Volatility spiked early in the session before stabilizing into a narrower consolidation pattern near the close.
• RSI and MACD indicate moderate bearish momentum, with no signs of overbought conditions.
• Notional turnover totaled $104.8 million, with volume peaking in the early hours and tapering off toward the close.

Tether/Argentine Peso (USDTARS) opened at 1435.0 at 12:00 ET − 1 and closed at 1432.1 at 12:00 ET, with a high of 1449.0 and a low of 1418.0. The pair traded 1.34 million volume over the 24-hour period, translating to a notional turnover of approximately $104.8 million. The session saw a bearish drift, punctuated by a strong intraday move to 1449.0 in the early hours, followed by a sharp correction and consolidation in the latter half of the day.

Structure and formations revealed a strong resistance cluster near 1435.0 and 1449.0, which failed to hold for the majority of the session. A bearish engulfing pattern appeared during the 22:00–22:30 ET period, signaling a potential trend reversal. A key support level was identified near 1424.0, which held on multiple retests. A doji formed around 1424.2 at 19:30 ET, indicating indecision among traders following a sharp drop.

The 20-period and 50-period moving averages on the 15-minute chart confirmed a bearish bias, with the 50-period line falling below the 20-period line late in the session. The 50-period daily moving average sits at 1433.0, suggesting that the 1432.1 close is below the mid-term trend. No significant crossovers occurred on the daily chart, keeping the longer-term trend neutral.

The MACD turned negative and remained below the signal line, reinforcing the bearish tone. RSI hovered between 35 and 50 for much of the session, staying within neutral territory but declining in the final hours. Bollinger Bands expanded during the early price action and later contracted into a tight consolidation phase, suggesting potential for a breakout in the next session. Price spent most of the session in the lower half of the bands, aligning with bearish momentum.

Volume and notional turnover showed a strong peak during the early hours when the price hit 1449.0, followed by a steady decline. This divergence suggests that buying pressure waned as the price moved higher. A notable volume spike also occurred during the 20:15–20:30 ET period when the price surged toward 1435.0. However, it failed to confirm the strength of the move, further supporting bearish bias.

Fibonacci retracement levels applied to the 1418.0 to 1449.0 swing showed key levels at 1435.6 (38.2%) and 1424.3 (61.8%), both of which acted as relevant support and resistance levels. The 61.8% level, in particular, held during multiple retests, reinforcing its significance.

Looking ahead, the market could test key support at 1424.3 again, with a break below that level potentially targeting 1418.0. A reversal above 1435.0 could trigger a retest of 1449.0. Investors should monitor volume behavior around these levels for confirmation of further direction.

Backtest Hypothesis

The proposed backtesting strategy for Tether/Argentine Peso (USDTARS) encounters a critical issue: the price series for USDTARS is not available in the backtesting system's database. This is likely due to the pair not being listed on major data feeds under a standard identifier.

A potential workaround is to use USDARS as a proxy, since Tether is pegged to the USD. While this approximation introduces slight differences in exchange rate timing and execution, it is the most practical option for immediate backtesting.

Alternatively, specifying the exact exchange (e.g., Binance, Bybit) and symbol format (e.g., BINANCE:USDTARS) could enable the system to locate the correct feed. Once the price data is accessible, the RSI-based backtest can proceed, validating the strategy over the 2022-01-01 to 2025-10-14 period.