Market Overview for Tether/Colombian Peso (USDTCOP)

Summary
• Price opened at 3724.0 and closed at 3703.0, forming a bearish trend with a 0.53% decline.
• Key support appears at 3703.0, with a rejection pattern observed during late morning trade.
• Volume and turnover declined after 04:00 ET, indicating weakening bearish momentum.
• RSI showed oversold conditions near 30, suggesting potential short-term rebound.
• A bullish engulfing pattern emerged between 02:45–03:00 ET, hinting at a potential short-covering rally.

USDTCOP opened at 3724.0 on 2025-12-28 at 12:00 ET−1, reaching a high of 3727.0 and a low of 3703.0 before closing at 3703.0 at 12:00 ET. Total volume was 140,891, with a notional turnover of 517,751,946 COP.

Structure and Price Action

The 24-hour price action displayed a bearish drift, with bearish momentum intensifying after the 01:30 ET print, where price broke below 3718.0 and failed to retest it as support. A key support level appears to have formed at 3703.0, where price rejected further downside during the 07:00–09:00 ET period. On the 5-minute chart, a bullish engulfing pattern at 02:45–03:00 ET signaled a short-term rebound.

Moving Averages and Momentum

A 20-period and 50-period moving average on the 5-minute chart show a bearish crossover, indicating continued pressure. The RSI briefly entered oversold territory near 30 during the morning session, hinting at a potential short-covering rally. MACD lines remained below the signal line throughout the day, reinforcing the bearish bias.

Volatility and Volume

Bollinger Bands showed a moderate contraction after 04:00 ET, indicating a slowdown in volatility. Price remained near the lower band during the late morning, signaling defensive positioning. Volume and turnover were concentrated in the early morning, with a notable decline after 04:00 ET, suggesting waning conviction in the bearish move.

Fibonacci Retracements

Fibonacci retracements applied to the key swing from 3727.0 (high) to 3703.0 (low) showed a 61.8% retracement level around 3715.0. Price tested this level during the 03:30–04:45 ET period but failed to hold, reinforcing the bearish bias.

In the coming 24 hours, a retest of 3703.0 support could trigger a short-covering rally, but a break below this level may open the door to 3699.0. Investors should remain cautious and watch for volume confirmation on any bullish bounce.