Market Overview for Solana/Argentine Peso (SOLARS) on 2025-12-20

Summary
• Price opened at $195,229, formed a bearish engulfing pattern near 193,734, and closed at $195,828.
• A 61.8% Fibonacci retracement level at ~194,700 acted as support and triggered a rebound.
• Volume surged during the 19:00–21:00 ET window but faded in the final hours.
• RSI signaled overbought conditions during the 20:00–21:00 ET rally before a pullback.
• Price remained within a 193,734–197,622 volatility range, with no breakout above 200SMA.

SOLARS opened at $195,229 on 2025-12-19 12:00 ET and closed at $195,828 at the same time on 2025-12-20. The high was $197,622, and the low was $193,734. Total volume was 17.024 units, and notional turnover amounted to approximately $3,372,472.

Structure & Formations

Price formed a bearish engulfing pattern near 193,734, followed by a 500-point rebound to 194,311 and a later bullish continuation into 195,828.

A 61.8% Fibonacci retracement level (~194,700) appeared to act as a key support, limiting further downside. No significant bearish or bullish reversal patterns were seen at the close.

Moving Averages

On the 5-minute chart, price hovered above the 20SMA but below the 50SMA. Daily MAs showed no clear directional bias, with price ending near its 200SMA. This suggests a sideways bias in the short term with no clear trend confirmation.

Momentum and Oscillators

The RSI briefly entered overbought territory during the 20:45–21:15 ET rally, signaling potential bearish exhaustion. MACD remained in neutral territory, with no clear divergence or convergence observed. Bollinger Bands showed moderate volatility, with price closing near the upper band on 12:00 ET, suggesting possible bearish correction.

Volume and Turnover

Volume spiked during the 19:00–21:00 ET window, supporting the bearish breakdown to 193,734, but faded in the final hours. Turnover was consistent with volume, with no divergence noted between price and volume during the rebound from 193,734.

Forward-Looking Observation and Risk

Price may test the 194,700 support level in the next 24 hours, with a potential bounce or breakdown. A break below 193,734 could trigger further downside, but confirmation is needed. Investors should remain cautious of thin volume and mixed oscillator signals.