Market Overview: Solana/Mexican Peso (SOLMXN) as of 2026-01-16 12:00 ET

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Friday, Jan 16, 2026 7:48 am ET1min read
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Aime RobotAime Summary

- SOLMXN fell to 2490.0, failing to reverse from key support despite oversold RSI conditions.

- Early bearish volume spiked at 2490.0, but faded during the final rebound to 2523.0 close.

- Fibonacci levels (2514.0-2518.0) temporarily supported price, with 2490-2515.0 likely to remain pivotal.

- Bollinger Bands contraction and weak momentum suggest continued consolidation near 2523.0 ahead of potential 2535.0 resistance test.

Summary
• Price dropped to a 24-hour low of 2490.0 before consolidating near 2523.0 at the close.
• Volume surged during a sharp drop in the early session but faded in the final hours.
• A bullish reversal attempt at 2490.0 failed, with price rebounding into a trading range.
• RSI indicated oversold conditions briefly but failed to confirm a strong reversal.
• Volatility expanded during the early sell-off but has since narrowed.

The Solana/Mexican Peso (SOLMXN) pair opened at 2542.0 (12:00 ET − 1) and reached a high of 2546.0, falling to a low of 2490.0 before closing at 2523.0 at 12:00 ET. Total traded volume over the 24-hour period was 95.641, with a notional turnover of 239,428.916 MXN.

Structure & Formations


Price formed a bearish breakout from a tight consolidation range early in the session, followed by a failed bullish rebound at the 2490.0 support level. A series of bearish engulfing patterns confirmed the initial drop, while a long lower wick at the close suggested indecision. Key support appears to be forming near 2490.0, and resistance could reassert above 2535.0, where a large bullish reversal is evident.

Moving Averages


On the 5-minute chart, the 20-period and 50-period moving averages both declined in tandem with the price action, suggesting a bearish bias. Daily averages, while not calculated from the 5-minute data provided, are expected to show a weaker trend if the close holds.

Momentum & Volatility



Relative Strength Index (RSI) dropped into oversold territory near 2490.0, but failed to generate a strong reversal. Momentum appears to have weakened in the final hours. Bollinger Bands showed a notable expansion during the early sell-off, followed by a contraction toward the end of the session, indicating reduced volatility.

Volume & Turnover


Volume spiked sharply during the early drop (1.148 at 20:00–20:15), confirming bearish momentum. However, volume dried up in the final hours, suggesting a lack of conviction in the rebound. Turnover mirrored this pattern, with a large portion of the 239,428.916 MXN occurring during the bearish phase.

Fibonacci Retracements


Applying Fibonacci to the key 5-minute swing from 2546.0 to 2490.0, price found temporary support at 61.8% (2514.0), then again at 50% (2518.0) before closing near 2523.0. This suggests the 2490–2515.0 range could be a key battleground in the near term.

Over the next 24 hours, a test of the 2535.0 resistance may trigger renewed bullish activity if buying pressure builds. Investors should remain cautious, however, as volatility remains low and the market could consolidate or reverse based on broader market sentiment.