Market Overview: Ethereum/Argentine Peso (ETHARS) – 2026-01-16

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Friday, Jan 16, 2026 9:29 am ET1min read
ETH
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Aime RobotAime Summary

- ETHARS fell below key support at 5,019,675 with a bearish engulfing pattern, hitting a 24-hour low of 4,957,927.

- RSI approached oversold levels while price traded near the lower Bollinger Band, signaling potential short-term stabilization.

- Weak volume and mixed momentum indicators suggest uncertain market conviction, with critical Fibonacci levels at 5,017,000 and 4,984,000 under scrutiny.

Summary
• ETHARS dropped to a 24-hour low of 4,991,339, breaking key support after a bearish engulfing pattern at 5,019,675.
• Momentum weakened as RSI approached oversold territory, with price trading near the lower Bollinger Band.
• Volume remained subdued, with notional turnover declining despite sharp intraday price swings.

At 12:00 ET on 2026-01-16, Ethereum/Argentine Peso (ETHARS) opened at 5,048,080, reached a high of 5,055,809, and closed at 4,991,339 after hitting a low of 4,957,927. Total 24-hour volume was 2.8645 ETH, with a notional turnover of 1,555,898.44 ARS.

Structure and Candlestick Patterns


Price action showed a bearish breakdown below key support at 5,019,675, confirmed by a bearish engulfing candle and a later doji at 5,010,380. Resistance appears near 5,043,029 and 5,055,809, with intraday swings showing a 4,991,339 low marking potential oversold territory. Fibonacci retracements from the 5,055,809 high to the 4,957,927 low suggest critical levels near 5,017,000 (38.2%) and 4,984,000 (61.8%).

Volatility and Bollinger Bands


Volatility remained elevated, with price closing near the lower Bollinger Band as of 12:00 ET, indicating a potential near-term reversal or consolidation phase. Bollinger Band width showed no significant contraction, suggesting continued sideways to downward pressure.

Momentum and Indicators


The 5-minute RSI approached oversold levels, hinting at potential short-term stabilizing action. MACD remained bearish with a negative divergence, while volume failed to confirm strong bearish conviction despite the sharp price drop.

Volume and Turnover


Volume remained low during the downward wave, with several candles showing zero trading activity. Notional turnover peaked during a 5,020,738 rebound, but failed to drive a lasting recovery. This divergence suggests lack of conviction in the short-term direction.

The market appears to be in a consolidation phase near the 4,990,000 level, with a potential test of support at 4,957,927. Traders may look for a rejection from this level or a retest of 5,019,675 to gauge sentiment. A break below 4,957,927 could accelerate further weakness, while a rebound above 5,043,029 may rekindle bullish momentum. Caution is warranted as volume and momentum indicators remain mixed.