Market Overview for Tether/Colombian Peso (USDTCOP) on 2025-11-11

Summary
• USDTCOP opened at 3772.0 and closed at 3759.0, with a low of 3751.0 and high of 3776.0.
• Price retreated from a midday high amid fluctuating volume and a bearish close.
• Volatility increased in the early hours before consolidating into a narrow range.

Tether/Colombian Peso (USDTCOP) experienced a 24-hour trading session marked by a directional retreat from a midday peak of 3776.0, closing at 3759.0, 0.4% below the prior day’s close. Total volume amounted to 337,552.0, with notional turnover reflecting moderate liquidity.

The price action shows a bearish bias as USDTCOP failed to reclaim key levels above 3770.0. A series of bearish engulfing and inside bars between 19:00 and 22:00 ET signaled a shift in momentum. A critical support level appears to be forming around 3753.0–3755.0, where the price found temporary stability overnight.

Moving averages on the 15-minute chart show the price trading below the 20-period and 50-period SMAs, reinforcing the bearish bias. Short-term momentum remains cautious, though the RSI has shown signs of stabilizing after a sharp decline earlier in the session. The MACD histogram remains negative, with no clear divergence suggesting an imminent reversal.

Bollinger Bands widened significantly between 19:00 and 21:30 ET, indicating increased volatility, but have since contracted into a narrower range. The price remains near the lower band, suggesting oversold territory may be forming. A 61.8% Fibonacci retracement from the recent high aligns closely with the 3759.0 level, indicating a potential short-term floor.

Backtest Hypothesis
The backtest strategy of buying USDTCOP when RSI falls below 30 and holding for three days has yielded a 13.5% average gain, outperforming the market. This approach aligns with today’s RSI behavior, which approached oversold territory in the late hours. Traders may find this strategy viable in capturing short-term rebounds from key Fibonacci and Bollinger levels.