Market Overview for Solana/Argentine Peso (SOLARS) – 2025-09-10

• • SOLARS traded with a bullish bias in early morning hours before consolidating midday.
• • The 24-hour low of $302,685 acted as a short-term floor, with price rebounding in a strong intraday rally.
• • Volume surged during a 15-minute bullish breakout in the late evening, but faded afterward, suggesting temporary momentum.
• • RSI showed mild overbought conditions near 70, indicating caution for further upward extension.
• • A key resistance level formed at $319,679 after a failed test in late afternoon, now at risk of being tested again.

The Solana/Argentine Peso (SOLARS) pair opened at $305,721 on 2025-09-09 16:00 ET and closed at $318,545 on 2025-09-10 16:00 ET, hitting a 24-hour high of $322,420 and a low of $302,685. Total volume was 38.375 units, and total notional turnover stood at approximately $12.1 million, with peak volatility observed in the early morning and late afternoon.

Structure & Formations

A clear bullish reversal pattern emerged in the early morning hours after a sharp decline from $305,721 to $302,685. The formation closed at the same low multiple times, forming a bear trap. Later, between 18:00–22:45 ET, a strong bullish trend unfolded, with a series of higher highs and higher lows, ending in a bullish breakout to $313,608 followed by a retest and consolidation. By late afternoon, a bearish divergence appeared with a lower high of $322,420 and a lower close of $320,333, suggesting possible exhaustion in the upside.

Moving Averages and Volatility

Short-term moving averages (20/50-period 15-min) showed a bullish cross in the 22:45–00:15 ET timeframe, reinforcing the morning bounce. However, by late afternoon, the 50-period MA began to flatten, signaling potential exhaustion. Bollinger Bands expanded significantly during the 18:00–22:45 ET rally, reflecting heightened volatility. Price remained above the 20-period MA for most of the session, indicating bullish momentum but with signs of a pullback forming.

Momentum Indicators

Relative Strength Index (RSI) for the 15-min chart climbed above 70 in the late evening and afternoon hours, indicating overbought conditions and potential for a correction. MACD showed positive momentum during the intraday rally, with a bullish crossover in the 19:00–20:15 ET timeframe. However, as the day progressed, the MACD histogram began to shrink, suggesting waning bullish energy. A bearish divergence in RSI and price was observed in the final hours, pointing to a potential reversal.

Volume and Turnover

Volume spiked during the 18:00–18:45 ET and 22:45–00:45 ET periods, coinciding with bullish breakouts and retests of key resistance levels. However, in the afternoon and late evening, volume declined despite continued price movement, signaling divergences and caution for traders. Notional turnover showed a similar pattern, with most activity concentrated during the morning and evening trading windows. No clear divergence was observed between price and volume, indicating the price action was generally supported.

Fibonacci Retracements

Applying Fibonacci retracements to the 15-min swing from $302,685 to $322,420 revealed key levels at 38.2% (~$312,000), 50% (~$312,550), and 61.8% (~$313,100). The price paused at the 61.8% level in the early afternoon, then continued higher. The 15:45 ET candle closed at $318,545, which is close to the 38.2% retracement of the full 24-hour range, indicating potential consolidation ahead.

Backtest Hypothesis

A potential backtest strategy could involve entering long positions on a bullish breakout above a key Fibonacci level (e.g., 38.2% or 61.8%), confirmed by a close above the 50-period moving average and a positive MACD crossover. The stop-loss could be placed below the most recent swing low, with a target at the next Fibonacci level or above the 20-period MA. This approach would capitalize on short-term momentum while managing risk through defined levels. Given the observed divergence and overbought conditions, a trailing stop or early exit near $318,000 could help lock in gains in the next 24 hours.