Market Overview: Tether/Mexican Peso (USDTMXN) – 24-Hour Summary

• Price rose 0.75% during the session, closing near the day’s high.
• Momentum remained neutral, with no clear overbought or oversold signals.
• Volatility surged mid-session as price tested key resistance levels.
• Notional turnover spiked near 00:00 ET, confirming the upward move.
• A bullish engulfing pattern emerged pre-market, suggesting potential follow-through.

Tether/Mexican Peso (USDTMXN) opened at 18.61 on 2025-09-10 at 12:00 ET and closed at 18.68 on 2025-09-11 at 12:00 ET. The 24-hour range was 18.57 to 18.68, with a total volume of 68,634 and a notional turnover of approximately MXN 1,273,954.60 (calculated using average volume and price).

Structure & Formations

Price action showed a bullish bias, especially in the early morning hours, with a bullish engulfing pattern forming at 06:15–06:30 ET. This pattern, coupled with a subsequent breakout to 18.68, signaled potential upward continuation. A key resistance level formed around 18.68–18.70, with notable pullbacks observed at 18.60–18.62 during the late afternoon. A doji appeared at 14:45 ET as price retraced to 18.60, suggesting temporary indecision.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA in the early morning, forming a “golden cross” that supported the upward move. The 50-period MA acted as a dynamic support, with price bouncing off it multiple times. On the daily chart, the 50-period MA crossed the 100-period MA in the last week, reinforcing the longer-term bullish bias.

MACD & RSI

MACD showed a strong positive divergence in the early morning, confirming the bullish breakout. The histogram expanded alongside rising volume, indicating strong momentum. RSI hovered between 50 and 60 for most of the session, with no overbought readings, suggesting room for further gains. A brief dip below 50 occurred in the late afternoon, aligning with a pullback to 18.60 but not triggering a bearish signal.

Bollinger Bands

Bollinger Bands expanded significantly from 00:00 to 02:00 ET as price approached resistance. Price briefly closed above the upper band at 18.68 before consolidating within the bands. The mid-session contraction of the bands at 12:00 ET hinted at a potential reversal, but price resumed higher into the early morning.

Volume & Turnover

Volume surged from 00:00 to 02:00 ET, with a large trade block of 67,834 units driving the move to 18.68. The high volume was accompanied by increased notional turnover, confirming the bullish break. A volume divergence appeared in the late afternoon as price fell toward 18.60, but it lacked conviction.

Fibonacci Retracements

On the 15-minute chart, price retraced to the 61.8% level at 18.60–18.62 before rebounding. On the daily chart, the recent swing from 18.57 to 18.68 aligned with the 38.2% and 61.8% levels, with 18.68 acting as a potential consolidation target.

Backtest Hypothesis

A potential backtesting strategy could focus on breakout entries at the 61.8% Fibonacci level on the 15-minute chart, paired with confirmation from bullish candlestick patterns and a positive divergence in the MACD. Entries placed near 18.62 with stop-losses below 18.60 could target 18.68–18.70, assuming volume and momentum align. The 18.68 level could act as a near-term ceiling for this setup, with a risk caveat to monitor for a potential pullback below 18.60, which could invalidate the short-term bullish case.