Market Overview: Solana/Mexican Peso (SOLMXN) on 2025-12-19

Summary
• Solana/Mexican Peso (SOLMXN) dipped sharply to 2130 before a late recovery to close near 2270.
• Key support around 2119–2130 held, followed by a bullish reversal.
• Volume surged during the recovery, confirming strength.
• RSI shows oversold conditions early, then momentum reversed.

At 12:00 ET on 2025-12-19, Solana/Mexican Peso (SOLMXN) opened at 2281, hit a low of 2119, and closed at 2270. The 24-hour session saw a total volume of 98.447 SOL and a turnover of approximately 213,100 MXN.

Structure & Moving Averages

Price broke below key support at 2130 before a late push above 2260 confirmed a bullish reversal. On the 5-minute chart, the price crossed above both 20 and 50-period moving averages in the final hours, suggesting a shift in short-term bias. The daily MA 200 would offer confirmation for a longer-term move if SOLMXN can hold above 2260.

MACD & RSI

MACD turned positive late in the session, confirming the bullish breakout. RSI moved from oversold territory (<30) early in the day to neutral levels by the close (~50), suggesting exhaustion of bearish momentum and a potential consolidation phase ahead.

Bollinger Bands & Volatility

Price moved inside a contracting Bollinger Band channel early in the session before a sharp break above the upper band, signaling increased volatility. Price closed near the upper band, suggesting continued momentum may be possible if buyers hold.

Volume & Turnover

Volume surged from 09:45 to 12:00 ET, especially during the move from 2248 to 2263 and later from 2263 to 2281. Notional turnover followed the same pattern, reinforcing the validity of the rally. A divergence between price and volume was observed earlier in the session, indicating a temporary lack of conviction in the bearish move.

Fibonacci Retracements

The 5-minute swing from 2281 to 2130 was retraced to 2263, aligning with the 61.8% Fibonacci level. This area now acts as a key short-term resistance level. If buyers can push past 2281, a deeper 78.6% retracement at 2297 may become relevant.

In the next 24 hours, a test of 2281–2297 appears likely if bullish momentum continues. However, a pullback toward 2248 or 2238 may occur if selling pressure emerges. Investors should remain cautious of any divergence between price and volume during the next key swing.