Market Overview: Solana/Argentine Peso (SOLARS) on 2025-10-27

• Solana/Argentine Peso (SOLARS) dropped sharply from ~311,464 to 286,131 ARS, with volatility intensifying after 19:00 ET on 2025-10-26.
• RSI entered oversold territory during the 24-hour period, suggesting potential for a short-term bounce.
• Volume remained low until a surge at 21:15 ET and 13:00 ET on 2025-10-27, coinciding with price declines.
• A bearish engulfing pattern formed around 21:30 ET on 2025-10-26, confirming downward momentum.
• Price remains below all key moving averages, reinforcing a bearish bias into the current session.

The 24-hour session for Solana/Argentine Peso (SOLARS) began at 310,962 ARS and closed at 286,131 ARS, with a high of 311,464 and a low of 273,331 ARS. Total volume was 195.825 SOL, and notional turnover reached 57.13 million ARS. A sharp decline began after 19:00 ET on 2025-10-26, accelerating at 21:30 ET with a bearish engulfing pattern.

Structure & Formations
The price action over the past 24 hours has been marked by a sustained bearish bias, with key support levels forming at 305,000 and 290,000 ARS. A bearish engulfing pattern developed around 21:30 ET on 2025-10-26, confirming the continuation of the downtrend. A doji formed at 02:45 ET, hinting at a potential short-term reversal, but was quickly invalidated by further selling pressure. A major resistance level appears to be forming near 305,000 ARS, where price stalled multiple times.

Moving Averages
On the 15-minute chart, the price remains below all key moving averages, including the 20-period (298,000 ARS) and 50-period (295,000 ARS) lines. This confirms a short-term bearish trend. On the daily chart, the 50-period (300,000 ARS), 100-period (303,000 ARS), and 200-period (307,000 ARS) moving averages are aligned in a descending order, reinforcing the bearish structure and suggesting a continuation of the downtrend.

MACD & RSI
The MACD histogram has turned negative and remains bearish, with both lines trending downward. This confirms sustained bearish momentum. The RSI indicator is in oversold territory (RSI ~28) at the end of the 24-hour period, suggesting that a short-term bounce may be due. However, given the strength of the downtrend, any overbought bounce is likely to be short-lived unless volume increases significantly.

Bollinger Bands
Volatility has expanded sharply since 21:00 ET on 2025-10-26, with the price breaking below the lower Bollinger Band (290,000 ARS) and settling near the 286,000 ARS level. Price remains within the band, but the widening of the bands suggests increased uncertainty and the potential for a rebound or further decline in the near term.

Volume & Turnover
Volume remained muted for most of the 24-hour window until the 21:15 ET candle, which saw 3.336 SOL traded and a sharp drop from 305,916 to 299,981 ARS. Another significant volume spike occurred at 13:00 ET, with 15.526 SOL traded during a price decline from 286,131 to 285,873 ARS. Notional turnover increased during these spikes, confirming the price action. Divergence between low volume and sharp declines suggests the move is being driven by larger participants rather than broad market sentiment.

Fibonacci Retracements
Applying Fibonacci retracements to the recent swing from 311,464 ARS to 273,331 ARS, the 38.2% retracement is at 294,000 ARS, the 61.8% at 284,000 ARS. Price has approached the 61.8% level and may consolidate around this area in the short term. On the daily chart, the 61.8% retracement of the larger swing from 310,962 to 273,331 ARS aligns with 286,000 ARS—where the price is currently consolidating.

Backtest Hypothesis
To evaluate potential short-term recovery signals during this bearish phase, an RSI-based backtest could be valuable. By identifying instances where the RSI dropped below the 30 threshold—commonly considered oversold—this analysis could assess whether such signals historically led to price rebounds in this pair. Given the recent RSI dip to 28, this approach would align well with current conditions, helping to quantify the likelihood of a near-term bounce. The oversold RSI level could be tested over multiple timeframes (e.g., 1–60 trading days) to evaluate whether this pair historically reacts predictably to such signals, particularly in the context of strong bearish momentum.