Market Overview: Solana/Argentine Peso Faces Key Technical Levels

Summary
• Price surged from 197,974 to 202,307 on strong late-day momentum.
• Volume spiked during key 17:30–19:45 ET breakout and consolidation.
• MACD turned bullish, RSI entered overbought, suggesting potential pullback.
• Bollinger Bands showed tightening at 198,158 before violent break.
• No divergence between price and turnover despite late volatility.

Solana/Argentine Peso (SOLARS) opened at 197,974 at 12:00 ET − 1 and closed at 202,038 by 12:00 ET the next day, reaching a high of 202,307 and a low of 197,974. Total volume was 12.162, and turnover amounted to approximately 2,445,396,000.

Structure & Candlestick Patterns

The 24-hour chart shows a strong bullish reversal forming after a 17:30 ET breakout from a key support level at 198,158. This was confirmed by a bullish engulfing pattern. A bearish rejection occurred around 200,263, forming a doji at 05:45 ET, hinting at potential resistance consolidation.

Moving Averages

On the 5-minute chart, price has crossed above both the 20- and 50-period moving averages, reinforcing short-term bullish bias. Daily moving averages (50/100/200) are not visible in the dataset, but the trend remains strongly above 198,000, a key level for support.

Momentum and Volatility

MACD showed a strong bullish crossover early in the 24-hour window, with positive momentum building throughout. RSI reached overbought territory above 70 at 09:45 ET, indicating a potential pullback. Bollinger Bands tightened significantly at 198,158 before a sharp expansion, suggesting heightened volatility.

Volume and Turnover

Volume spiked at key turning points, including 17:30–19:45 ET and 00:15–01:45 ET. Notional turnover aligned with these volume surges, showing strong conviction in both bullish and bearish moves. No significant divergence was noted between price and turnover, supporting continuation of the current trend.

Fibonacci Retracements

Recent swings show 61.8% retracement levels near 200,263 and 202,038, which have acted as both resistance and consolidation zones. The 38.2% level at 199,000 may offer secondary support in the near term.

Price appears to be testing a key resistance cluster above 202,000. If it breaks above 202,307 cleanly with strong volume, the next target may be 204,000. However, consolidation or a pullback below 200,000 could signal caution, especially given the overbought RSI. Investors should monitor volume for signs of conviction in the next 24 hours.