Market Overview for Solana/Argentine Peso (SOLARS)

• SOLARS surged 5.2% from 279,336 to 292,347, driven by strong late-night buying.
• Momentum accelerated after 17:45 ET with a bullish engulfing pattern.
• Volatility spiked in the last 4 hours, with volume surging to 4.835 million.
• RSI reached 68, indicating near overbought conditions despite rising prices.
• Fibonacci levels suggest a potential pullback to 280,000–282,000 as next test.

24-Hour Price Movement

At 12:00 ET–1 on 2025-10-14, Solana/Argentine Peso (SOLARS) opened at 279,336 and closed at 292,347 by 12:00 ET. The pair reached a high of 293,678 and a low of 274,680 during the 24-hour period. Total traded volume amounted to 23.718 million, while notional turnover (volume weighted by price) reached approximately 6.84 billion ARS.

Structure & Formations

The price action shows a strong bullish bias in the second half of the session. A key pattern emerged around 17:45 ET (2025-10-13 174500), where a bullish engulfing candle formed, opening at 283,492 and closing at 286,888, signaling a reversal from a prior bearish phase. Further upward momentum continued with a strong move to 292,347 at 16:00 ET (2025-10-14 160000), where a large bullish candle opened at 286,019 and closed at 292,347, indicating strong institutional participation.

Support levels are emerging at 280,000–282,000, with the 279,336 level acting as a critical base for potential retracements. Resistance is forming at the 292,000–295,000 range, with the 293,678 high representing a near-term ceiling if not retested.

MACD & RSI Momentum

Momentum picked up after 17:45 ET, with the MACD line crossing above the signal line and the histogram expanding. RSI rose from 52 at 12:00 ET–1 to 68 at 16:00 ET, indicating aggressive buying pressure. This suggests the market is approaching overbought territory but not yet at an extreme level (70+), leaving room for a continuation or pullback.

Volatility & Bollinger Bands

Volatility spiked sharply during the late-night and early morning hours, with a 15-minute Bollinger Band width expanding from 7,500 to 14,000. The price closed near the upper band (292,347), suggesting strong conviction in the upside. A contraction phase is likely in the coming hours, which could signal a potential consolidation before a new move.

Volume & Turnover Confirmation

Volume spiked at key breakout points, especially around 17:45 ET (2025-10-13 174500) and 16:00 ET (2025-10-14 160000), with notional turnover rising sharply. The total volume (23.718 million) and turnover (6.84 billion ARS) suggest broad participation, with no clear signs of divergence between price and volume. This confirms the strength of the recent rally.

Fibonacci Retracements

Applying Fibonacci retracements to the 24-hour low (274,680) and high (293,678), key retracement levels are at 38.2% (284,040), 50% (284,180), and 61.8% (284,320). These levels now act as potential support zones. On the 15-minute chart, the 279,336 close yesterday becomes a critical psychological support. A pullback to 280,000 would test the 38.2% Fibonacci level and could trigger a short-term correction.

Backtest Hypothesis

To validate the bullish momentum seen in this 24-hour period, a backtest strategy can be developed using candlestick patterns such as the Bearish Engulfing. By analyzing the performance of this pattern in a selected set of stocks (e.g., S&P 500 or SPY) using daily data from 2022 to 2025, one can measure the average post-event returns and risk-adjusted performance. This method helps investors understand the reliability of candlestick signals in real-world trading scenarios.

Forward Outlook

Looking ahead, the price may consolidate near the 292,347 level before testing the 295,000 psychological resistance. A pullback to the 280,000–282,000 area could offer a short-term buying opportunity, but traders should remain cautious of any divergence in volume or RSI above 70, which could signal an overbought correction. As always, the risk of unexpected macroeconomic shocks or regulatory news remains, and stops should be placed near the 275,000 level for downside protection.