Market Overview for Solana/Mexican Peso (SOLMXN)

• SOLMXN opened at 3607 MXN, peaked at 3730 MXN, and closed at 3560 MXN, with a low of 3465 MXN in 24 hours.
• Price action shows a bearish reversal with a significant 15-minute candle at 18:45 ET (10/29) printing a wide range of 3547–3632 MXN.
• Volume spikes were observed in late evening and early morning sessions, indicating increased participation during price declines.
• Momentum indicators suggest overbought levels in short-term rallies, but no extreme oversold readings.
• Price remained near its 20-period moving average on the 15-min chart, hinting at potential continuation of bearish pressure.

The 24-hour period for Solana/Mexican Peso (SOLMXN) from 12:00 ET−1 to 12:00 ET on October 30, 2025, saw a mixed price action with key bearish developments. The pair opened at 3607 MXN and reached a high of 3730 MXN during the early evening session on October 29. However, it closed at 3560 MXN, with a low of 3465 MXN observed at 14:15 ET on October 30. Total traded volume during the 24 hours amounted to approximately 49.18 SOL, with a notional turnover of roughly 174,471 MXN, indicating moderate to low liquidity.

Structure on the 15-minute chart shows a bearish engulfing pattern emerging at 18:45 ET, where price opened at 3607 MXN and closed at 3547 MXN, forming a significant downward move. This was followed by a consolidation phase until late at night, where the price broke down further to 3481 MXN. Notable support levels emerged at 3545 MXN and 3479 MXN, while resistance hovered around 3603 MXN and 3630 MXN. No strong bullish patterns were observed in the latter half of the day, with a continuation of bearish momentum.

Moving averages on the 15-minute chart show the price closing below the 20-period SMA at around 3603 MXN and the 50-period at 3607 MXN, reinforcing a bearish bias. On the daily chart, the 50-period and 100-period SMAs are both above the current price, suggesting a medium-term downtrend. The 200-period SMA remains distant, but could act as a key reference for long-term support.

The MACD line crossed below the signal line late in the evening on October 29, indicating a bearish crossover, while the histogram showed a narrowing momentum. RSI fluctuated between 40 and 60 throughout the day, with a brief overbought reading at 66 during the short-lived rally to 3730 MXN. This suggests the market is not in a strong overbought or oversold territory but remains cautious. Bollinger Bands widened during the bearish engulfing pattern, indicating rising volatility, with price closing near the lower band at 3560 MXN, hinting at potential near-term support.

Volume was moderate to low for most of the session but surged during the key bearish candles at 18:45 ET and 10:15 ET, confirming the downward moves. Notional turnover spiked alongside volume, reinforcing the validity of the price action. No major divergence was observed between price and volume. Fibonacci retracement levels on the recent 15-minute move from 3607 MXN to 3465 MXN show the 38.2% level at 3552 MXN and the 61.8% at 3500 MXN, both of which the price has approached, suggesting potential near-term turning points.