Market Overview for Tether/Colombian Peso (USDTCOP): 24-Hour Analysis

• USDTCOP opened at 3981.0 and closed at 3975.0 after a 24-hour range between 3965.0 and 3988.0.
• Price showed consolidation near 3980–3985, with bearish momentum gaining traction after 19:30 ET.
• RSI suggested overbought levels earlier, but bears reclaimed control as turnover surged below 3980.
• Bollinger Bands narrowed during the overnight dip, hinting at potential breakout pressure.
• Volume spiked at key turning points, particularly during the late-night bearish push to 3965.0.

Market Overview for Tether/Colombian Peso (USDTCOP): 24-Hour Analysis

Tether/Colombian Peso (USDTCOP) opened at 3981.0 on 2025-09-04 at 12:00 ET, reached a high of 3988.0, dipped to a low of 3965.0, and closed at 3975.0 by 12:00 ET on 2025-09-05. Total volume for the 24-hour period was 288,297.0 units, with a notional turnover of approximately 65 units. The pair displayed mixed directional momentum, with a bearish bias emerging in the later hours of the session.

Structure & Formations

Price action showed several key formations over the 24-hour period, particularly in the late-night and early-morning sessions. A bearish engulfing pattern formed around 05:45–06:00 ET, signaling a shift in control to the sellers after a brief consolidation phase. A small doji at 08:00 ET suggested indecision as price approached the 3971.0 level.

Key support levels were identified at 3970.0 and 3965.0, while resistance emerged at 3980.0 and 3985.0. A bearish breakdown from 3980.0 occurred after 19:30 ET, and price held below that level for the remainder of the session.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed bearishly into the short side as price dipped below 3980.0. The 20-EMA (Exponential Moving Average) was at ~3981.0, while the 50-EMA was at ~3983.0, both trending downward.

For the daily chart, the 50/100/200-period MA lines were all in a bearish alignment by the close, with the 50-DMA sitting near 3984.0. Price closed below all three, reinforcing the bearish bias and suggesting further downward potential unless a reversal occurs.

MACD & RSI

The 12/26/9 MACD histogram showed bearish momentum expanding after 19:30 ET, with the MACD line crossing below the signal line into negative territory. RSI moved from overbought conditions (above 60) early in the session to neutral to slightly oversold territory (~32–35) by the close. This suggests that the market is adjusting to a new equilibrium, but bears are still in control.

Bollinger Bands

Bollinger Bands contracted significantly after 02:00 ET and expanded again as price dropped toward 3965.0. This volatility expansion aligns with the bearish break of key support levels. Price remained below the 20-period MA and the lower band throughout the final hours, indicating heightened volatility and bearish pressure.

Volume & Turnover

Volume spiked during key price movements, particularly during the bearish breakdown from 3980.0 and the consolidation phase around 3970.0. The highest volume occurred at 04:00 ET, with 4578.0 units traded, coinciding with a sharp rally toward 3973.0. Turnover aligned with these volume spikes, with no significant divergence observed between price and turnover, indicating strong confirmation of the bearish trend.

Fibonacci Retracements

Applying Fibonacci retracement to the 15-minute swing from 3988.0 (high) to 3965.0 (low), the 61.8% level sits near 3972.0, where price found temporary support. The 38.2% level (~3974.0) was tested but rejected, indicating stronger bearish pressure. If price breaks below 3970.0, the next level to watch is 3965.0, the 100% retracement level.

Backtest Hypothesis

A potential backtesting strategy could focus on identifying bearish engulfing patterns and dojis in the 15-minute timeframe, particularly near key Fibonacci levels. A sell entry could be triggered on confirmation of a bearish engulfing candle after a prior overbought RSI condition, with a stop-loss placed above the 3980.0 resistance level. This strategy would benefit from volume confirmation and Bollinger Band contractions as entry filters.