Market Overview for Solana/Argentine Peso

Summary
• Price action showed bearish exhaustion, with a key reversal at $190,000.
• Volume spiked during the session’s low point, confirming bearish sentiment.
• RSI remains in oversold territory, hinting at potential short-term bounce.

At 12:00 ET–1 on 2025-12-31, Solana/Argentine Peso (SOLARS) opened at $191,888 and traded as high as $197,199 before closing at $192,438 at 12:00 ET on 2026-01-01. The pair touched a low of $190,000 during the session. Total volume was 48.38, with $9,328,134 in turnover over 24 hours.

Structure & Formations

The 5-minute chart showed a bearish engulfing pattern at the session low, followed by a consolidation phase between $192,000 and $193,000. Key support levels formed at $190,000 and $192,400, with a potential resistance forming near $193,272. A doji at the end of the session suggests indecision among buyers.

Moving Averages

The 20-period and 50-period moving averages on the 5-minute chart indicate a bearish bias, with price remaining below both. The 50-period and 100-period daily averages are expected to converge around $192,000, forming a potential pivot point.

MACD & RSI

The 12:00 ET close saw the MACD line in negative territory with a bearish crossover, reinforcing the bearish momentum. RSI remains in oversold territory at ~28, suggesting a potential rebound could be imminent, though a sustained move above $193,000 would be needed for a bullish reversal.

Bollinger Bands

Volatility increased in the final hours of the session, pushing price near the upper band before a sharp pullback. The lower band currently sits at ~$190,000, with price hovering near that level. A breakout above the upper band would require increased volume and momentum.

Volume & Turnover

A significant volume spike occurred during the drop to $190,000, with a volume of 9.23 and $1.77 million in turnover. This confirmed bearish sentiment during that move. However, recent volume has dried up, indicating a pause in strong directional bias.

Fibonacci Retracements

Applying Fibonacci levels to the $190,000–$197,199 swing, the 38.2% and 61.8% retracement levels align near $192,370 and $194,100. These levels may serve as key pivots in the coming session.

Price appears to have exhausted bearish momentum and could retest the $192,500–$193,000 range in the next 24 hours. Traders should watch for a volume-confirmed break above $193,272 for bullish signals, or a retest of $190,000 for a possible breakdown. As always, volatility remains high, and sharp reversals are possible.