Market Overview: Solana/Argentine Peso (SOLARS) on 2025-09-18

• SOLARS surged 9.8% over 24 hours, closing at 378,181 ARS.
• Key breakouts above 353,209 and 368,260 ARS signaled strong bullish momentum.
• Volume spiked during 17:45–18:45 ET, confirming buying pressure during key upswings.
• RSI reached 72 in late ET, nearing overbought territory, suggesting possible near-term correction.
• Bollinger Band expansion indicated heightened volatility throughout the session.

Opening Snapshot

The Solana/Argentine Peso (SOLARS) pair opened at 349,554 ARS on 2025-09-17 at 12:00 ET. Over the subsequent 24 hours, it climbed to a high of 378,181 ARS and fell to a low of 348,158 ARS, closing at 378,181 ARS on 2025-09-18 at 12:00 ET. The total traded volume was 91.645 SOL, with a notional turnover of approximately 34.69 million ARS.

Structure & Formations

The 24-hour chart displayed several notable price formations. A bullish engulfing pattern formed at 17:45 ET, as the pair surged from 349,520 ARS to 353,209 ARS. A larger bullish reversal pattern followed from 18:00–18:15 ET, with price rising from 353,209 to 355,091 ARS. A key resistance was tested and broken at 368,260 ARS, leading to a rally that culminated near 378,181 ARS. A bearish divergence emerged late in the session with volume declining while price pushed higher.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA around 18:15 ET, forming a bullish crossover. This confirmed the continuation of a strong short-term uptrend. The daily chart saw the 50-period MA above both the 100 and 200-period lines, reinforcing the long-term bullish bias for SOLARS.

MACD & RSI

The MACD remained positive throughout the session, reaching a high of 14,300 at 18:30 ET, signaling sustained momentum. The RSI climbed into overbought territory (above 70) in the final 4 hours of the session, suggesting the market could be due for a consolidation or correction in the next 24 hours.

Bollinger Bands

Volatility expanded significantly during the 18:00–20:45 ET window, with the upper Bollinger Band rising to 370,000 ARS. Price closed near the upper band at 378,181 ARS, indicating strong buying pressure. A retest of the upper band is expected, with potential for a pullback if support at 368,260 ARS fails.

Volume & Turnover

Trading volume spiked during the 17:45–18:45 ET period, as the price moved from 353,209 to 355,091 ARS, with 12.689 SOL traded in one 15-minute interval. Notional turnover was highest between 18:15–18:30 ET. The increase in volume confirmed the strength of the rally, but the lack of volume in the final 8 hours of the session raises concerns about sustainability.

Fibonacci Retracements

Key Fibonacci levels were tested during the rally from 348,158 to 378,181 ARS. The 38.2% level (365,709 ARS) and 61.8% level (363,121 ARS) were both confirmed as strong support levels. A potential retest of the 61.8% retracement level is expected in the next 24 hours if a pullback occurs.

Backtest Hypothesis

A backtesting strategy that triggers a long position when a bullish engulfing pattern forms on the 15-minute chart, confirmed by a close above the 20-period MA and a MACD crossover above zero, would have captured the majority of the rally seen between 17:45 and 18:30 ET. A stop-loss placed just below the 353,209 ARS level would have limited downside risk. This approach could be refined by incorporating a time-based exit at overbought RSI levels to capture early profits and reduce exposure to potential corrections.