Market Overview for Tether/Rand (USDTZAR): 2025-11-07 12:00 ET–2025-11-08 12:00 ET

• Price consolidates near 17.44 amid moderate volatility.• Volume declines after sharp intraday swings, suggesting waning momentum.• No clear breakout or reversal pattern evident on 15-minute chart.

The Tether/Rand (USDTZAR) pair traded in a tight range over the 24-hour period, opening at 17.48 on 2025-11-07 at 12:00 ET and reaching a high of 17.48. The pair touched a low of 17.43 before closing at 17.44 on 2025-11-08 at 12:00 ET. Total volume amounted to approximately 101,817.0 units, with a total notional turnover of 1,745,640.00 ZAR.

The 15-minute OHLCV data reveals a price range bound between key levels of 17.43 and 17.48, with several small-bodied candles suggesting indecision. Notable patterns include a bullish engulfing at 17:30 and a bearish harami around 09:15, though neither was followed by decisive follow-through. The 20-period and 50-period moving averages are converging within this range, indicating potential for a breakout or continuation if volatility picks up.

MACD remains near zero with no clear divergence from price, suggesting neutral momentum. The absence of clear overbought or oversold RSI readings—likely due to the flat price action—means the market remains in a state of consolidation. Bollinger Bands show mild contraction, signaling a potential buildup of volatility for the near future. Fibonacci retracement levels of 17.46 (61.8%) and 17.44 (38.2%) appear to act as soft support/resistance within the range.

Looking ahead, traders may watch for a break above 17.48 or a drop below 17.43 to confirm a trend, but given the low conviction of recent candlestick formations and the absence of a clear momentum signal, a continuation of consolidation is likely. Investors should also remain cautious of any divergence between price and volume, as this could signal a potential reversal.

The Backtest Hypothesis section requires accurate and consistent pricing data to generate meaningful results. Without valid RSI readings for USDTZAR, the current strategy—based on detecting oversold conditions and generating entry/exit signals—cannot be applied. To proceed, please confirm the correct ticker symbol or consider using USDZAR as a proxy if available on your data source. Once the correct price series is identified, the backtest can be executed using RSI(14) and a standard entry/exit framework from 2022-01-01 to 2025-11-08.