Market Overview for Ethereum/Mexican Peso (ETHMXN): Volatility and Divergence in a Downward Move

Summary
• ETHMXN declined 2.1% over 24 hours, closing near session lows amid bearish volume divergence.
• A long lower shadow at 05:30 ET and 61.8% Fib level at ~50,950 MXN signaled short-term support.
• RSI dipped below 30 after 21:00 ET, suggesting oversold conditions but no immediate reversal.

Ethereum/Mexican Peso (ETHMXN) opened at 51,331 MXN on 2025-12-17, hit a high of 51,890 MXN, and closed at 51,035 MXN on 2025-12-18 at 12:00 ET. Total 24-hour volume was 5.6998 ETH, with notional turnover at ~295,765 MXN.

Price formed a descending pattern, marked by a sharp selloff after 19:00 ET and consolidation around 50,954–51,125 MXN overnight. The 5-minute 20SMA and 50SMA both crossed bearishly, with the price below both. A bearish engulfing pattern at 19:15 ET and a doji at 20:30 ET reflected indecision and exhaustion.

Structure & Formations

A key 5-minute swing from 51,890 MXN to 50,465 MXN formed a bearish trend, with a 61.8% Fib retracement at ~50,954 MXN acting as a temporary floor. A long lower shadow at 05:30 ET showed buyers defending this level, but price failed to reclaim the 51,100 MXN area.

Volatility and Momentum

Bollinger Bands widened during the sell-off phase (19:00–21:00 ET), indicating increased volatility. Price then consolidated within the bands as volatility waned. MACD turned negative after 19:00 ET, with the histogram shrinking overnight, suggesting fading momentum. RSI dropped below 30 after 21:00 ET, signaling oversold conditions but no immediate reversal attempt.

Volume and Turnover

Volume surged during the early sell-off (19:15–19:30 ET) at ~0.113 ETH, but turnover remained low in the 51,000–51,100 MXN range, indicating limited conviction. A bearish divergence between price and volume was visible from 20:00–02:00 ET, with volume waning as price drifted lower.

Over the next 24 hours, ETHMXN could test the 50,779 MXN level for a potential short-term bounce, but a break below 50,779 MXN may extend the decline toward 50,465 MXN. Investors should remain cautious and watch for a sustained close above 51,125 MXN to signal a potential reversal.