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Summary
• Price action showed a late-night rally, forming bullish engulfing patterns above key resistance.
• Volatility expanded during overnight hours, with increasing volume confirming the upward bias.
• RSI signaled overbought conditions mid-day, while MACD remained positive, suggesting sustained upward momentum.
• Price closed near the upper Bollinger Band, indicating potential for a consolidation pullback or continuation.
• Fibonacci retracement levels suggested 1512.0–1514.0 as possible near-term resistance clusters.
Tether/Argentine Peso (USDTARS) opened at 1509.5 on December 14 at 12:00 ET and closed at 1508.8 by 12:00 ET on December 15. The 24-hour range was 1506.0 (low) to 1515.0 (high). Total volume was 328,904 and turnover amounted to approximately $493,791,668.
The price action began with a narrow consolidation range early in the session, but momentum shifted sharply after 10:00 PM as a bullish engulfing pattern emerged. This was followed by a series of higher highs and higher lows until late morning on the 15th, where the market formed a potential bearish divergence between price and RSI. Key resistance appeared at 1510.0, with a critical 61.8% Fibonacci level at 1513.5, which was briefly pierced before a pullback occurred.
On the 5-minute chart, the 20-period MA closely followed price action, indicating strong short-term momentum. The 50-period MA also showed a bullish slope, reinforcing the trend. RSI reached overbought territory around 1515.0 and pulled back slightly, suggesting possible profit-taking. MACD remained positive throughout the session, with a narrowing histogram showing that momentum may be slowing after the peak at 1515.0.
Volatility expanded overnight with the Bollinger Band width increasing by 12%, a sign of heightened interest. The price spent the majority of the session in the upper half of the bands, with a closing near the upper band at 1508.8. This suggests a possible reversal or consolidation phase, with 1510.0 as a probable upper boundary for near-term movement.
Volume increased steadily through the session, peaking at 34712 at 14:15 ET when the price reached 1513.8. Turnover followed a similar pattern, showing positive confirmation. However, volume began to taper off during the last hour, potentially signaling a shift in market sentiment.
Looking ahead, USDTARS may test the 1513.0–1515.0 range for possible follow-through, but a pullback to the 1508.0–1509.0 zone could indicate exhaustion in the short term. Investors should remain cautious as divergence in momentum indicators suggests a potential reversal is on the horizon.
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