Market Overview for Solana/Mexican Peso (SOLMXN)

Generated by AI AgentAinvest Crypto Technical RadarReviewed byRodder Shi
Thursday, Jan 1, 2026 10:39 am ET1min read
SOL
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Aime RobotAime Summary

- SOLMXN formed a bearish engulfing pattern at 2259.0, consolidating near 2253.0 after failed attempts to break above 2256–2258 resistance.

- Volatility spiked at 20:15 ET with volume surging to 8.021 as price dropped to 2243.0, confirming bearish conviction.

- RSI remained neutral near 50, while MACD showed negative divergence, indicating sideways to bearish momentum without clear overbought/oversold signals.

- Price retested 61.8% Fibonacci level at 2253.0, with a potential breakout above 2256.0 needed to target 2258.0, but risks persist from volatility and resistance.

Summary
• Price formed a bearish engulfing pattern at 2259.0 before consolidation at 2253.0.
• Volatility dipped during overnight hours but spiked after 20:15 ET as price fell to 2243.0.
• RSI hovered near 50 for most of the day, with no clear overbought or oversold signals.
• Volume spiked to 8.021 at 20:15 ET, coinciding with a sharp drop in price.
• Price tested prior 2256–2258 range resistance twice, failing to break out.

Market Overview


At 12:00 ET on 2026-01-01, Solana/Mexican Peso (SOLMXN) opened at 2259.0, reached a high of 2261.0, a low of 2243.0, and closed at 2253.0. Total volume over the 24-hour period was 106.985, and notional turnover amounted to 237,259.771 MXN.

Structure & Formations


Price action over the 24-hour period showed clear short-term bearish bias, especially after a key bearish engulfing pattern formed at 2259.0 following a high at 2261.0. A consolidation phase followed near 2253.0, with multiple failed attempts to break above 2256–2258. Support levels appear to hold near 2253.0 and 2243.0, with resistance still in place at 2256.0.

Moving Averages


Short-term (20/50-period) moving averages on the 5-minute chart remained in a bearish alignment most of the day, reinforcing the downward pressure. Daily 50/100/200-period MAs would need updated data for full context, but the intraday trend suggests continued caution ahead of a potential reversal.

MACD & RSI


MACD remained bearish throughout the session, with negative divergence in the last 4–5 hours. RSI showed no extreme readings, staying around 50 for most of the period, indicating sideways to slightly bearish momentum. A breakout from the 2253.0–2256.0 range could trigger a directional move.

Bollinger Bands


Bollinger Bands showed a period of contraction around 03:00–08:00 ET, followed by expansion as volatility picked up after 20:15 ET. Price moved below the lower band during the 20:15–20:45 ET period, suggesting increased bearish pressure.

Volume & Turnover


Volume remained low for much of the session, with a significant spike at 20:15 ET (8.021 units) when price dropped sharply to 2243.0. Turnover mirrored this activity, showing strong bearish conviction during the move. No notable divergence between price and volume was observed.

Fibonacci Retracements


The key 5-minute swing from 2261.0 to 2243.0 saw a retest of the 61.8% level at around 2253.0. This level appears to be consolidating, and a break above 2256.0 could see a retest of the 78.6% level at approximately 2258.0.

Looking ahead, a breakout above 2256.0 could signal bullish momentum, but caution is warranted as the 2253.0–2256.0 range has shown significant resistance. Traders should monitor volume behavior and 20-period MA crossovers for potential confirmation of direction. As always, volatility remains a risk, especially if volume spikes again.