Market Overview for Tether/Colombian Peso (USDTCOP)

• Price action shows consolidation around 3831 COP after a brief breakout to 3837 COP in late afternoon.
• RSI suggests moderate momentum, with no overbought or oversold signals within 24 hours.
• Bollinger Bands indicate steady volatility without significant contractions or expansions.
• Volume remains steady, with no divergences between price and turnover.
• A bullish engulfing pattern formed near 3831 COP, hinting at possible short-term support.

At 12:00 ET on 2025-09-21, Tether/Colombian Peso (USDTCOP) opened at 3832 COP, hit a high of 3837 COP, and closed at 3836 COP with a low of 3826 COP. Total volume over the 24-hour period was 110,040.0 units, and notional turnover amounted to approximately $414,464,880 COP (based on USDTCOP price).

The price action over the 24-hour period revealed a consolidation pattern centered around 3831–3833 COP, with a notable breakout in the late afternoon session when price surged to 3837 COP. This move was supported by increased volume during the 1515 ET candle, where USDTCOP opened at 3834 COP and closed at 3837 COP — a bullish engulfing pattern that suggests short-term strength. A key support level appears to be forming around 3828 COP, where price found a floor on multiple occasions during the early evening.

Bollinger Bands reflected stable volatility, with the price remaining within the bands throughout the period, indicating a range-bound environment. The RSI hovered around the 50 mark for most of the day, with no clear overbought or oversold signals emerging. MACD showed a moderate positive divergence in the last three hours, suggesting potential bullish momentum may continue into the next session. A 20-period EMA on the 15-minute chart closely followed price action, while the 50-period EMA acted as a resistance level near 3833 COP.

Fibonacci retracement levels drawn from the 3826 to 3837 COP swing identified potential resistance at 3833.3 COP (38.2%) and 3830.1 COP (61.8%), both of which were tested and held during the session. Price may continue to find support near 3831 COP, where a doji and bullish engulfing pattern formed in the morning.

Backtest Hypothesis:
A simple mean-reversion strategy could be tested using the 50-period EMA as a trigger point. When price closes below the EMA on the 15-minute chart, a short position could be initiated with a stop loss placed above the most recent high. Conversely, a long entry could be triggered when price closes above the EMA, with a stop loss placed below the most recent low. This strategy could be evaluated using the recent swing between 3826 and 3837 COP, with entries and exits aligned to the EMA crossover. The 3831 COP level could serve as a key confirmation point for both long and short setups.