Market Overview for Solana/Argentine Peso (SOLARS)

Summary
• Price opened at 192345.0, peaked at 192777.0, and closed at 191512.0.
• A bearish engulfing pattern formed after 01:30 ET, signaling potential reversal.
• Volume surged at 01:30 ET, with 10.57 units traded, confirming a key selloff.
• RSI suggests moderate bearish momentum with no overbought conditions.
• Volatility remained low, with price hovering near Bollinger Band midline.

Solana/Argentine Peso (SOLARS) opened at 192345.0 on 2025-12-28, reached a high of 192777.0, touched a low of 190997.0, and closed at 191512.0 by 12:00 ET. Total volume for the 24-hour window was 23.393 units, with a notional turnover of 4,547,449.066 ARS.

Structure & Formations

A key bearish engulfing pattern formed at 01:30 ET, with an open of 192028.0 and a close of 191088.0, signaling a potential short-term reversal. A 10.57-unit volume surge confirmed the move. Later, a bullish harami pattern at 07:45 ET showed possible consolidation. Price found support near 191088.0 and 191142.0, with the 191512.0 level acting as a new tentative resistance.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages both trended downward, reinforcing bearish momentum in the early part of the session. By the end of the day, price closed below both, suggesting a potential continuation of the bearish bias. Daily MAs (50, 100, 200) were not directly available, but the intraday trend suggests a likely decline in alignment with the daily structure.

MACD & RSI

The RSI moved into bearish territory in the early morning hours, dropping below 50 as the selloff intensified. MACD remained bearish, with the line below the signal line and negative histogram values reinforcing the downward move. The RSI has not yet entered oversold territory, suggesting potential for further downside but without immediate signs of exhaustion.

Bollinger Bands

Volatility remained subdued for much of the session, with price trading within the Bollinger Bands and frequently near the midline. A contraction occurred before the selloff, followed by a modest expansion as price moved lower. The bands suggest a continuation in a low-volatility range, unless a breakout occurs above 192777.0 or below 190997.0.

Volume & Turnover

Volume spiked dramatically at 01:30 ET, with a 10.57-unit trade contributing significantly to the intraday low. This volume surge confirmed the bearish reversal. However, in the following hours, volume dried up, with several 5-minute intervals recording zero trades, indicating a lack of follow-through in either direction. Turnover mirrored the volume pattern, with the bulk of the 4.54 million ARS in turnover occurring during the large selloff.

Fibonacci Retracements

Applying Fibonacci levels to the 5-minute swing from 192777.0 to 190997.0, price found support at the 38.2% level (192155.0) and the 61.8% level (191466.0). The current close at 191512.0 appears to hover just above this key support area, suggesting the pair may consolidate or test it in the near term.

Looking ahead, SOLARS may face further pressure if short-term momentum continues to favor sellers. A break below 191142.0 could test the next Fibonacci support at 190997.0. Investors should remain cautious as volume has remained low post-selloff and may limit immediate follow-through.