SOLARS Market Overview: Volatility and Rebound Potential in Solana/Argentine Peso

• Price dropped to a 24-hour low of 223,947 ARS before recovering to close near 228,713 ARS.
• Volatility spiked during a sharp intraday plunge of ~1.7%.
• Volume increased significantly during key reversal attempts post-223,947.
• RSI suggests oversold conditions after the low, hinting at potential rebound.
• Bollinger Bands indicate a recent expansion, aligning with increased volatility.

SOLARS opened at 225,590 ARS on 2025-11-12 at 12:00 ET and closed at 228,713 ARS on 2025-11-13 at 12:00 ET, reaching an intraday high of 228,849 ARS and a low of 223,947 ARS. The total 24-hour volume was approximately 23.292 SOL, while the notional turnover was ~ARS 5.35M.

The candlestick pattern during the intraday decline to 223,947 ARS resembles a bullish reversal structure. After a sharp drop, the price consolidated and eventually rallied through a series of higher lows and higher closes. A notable bearish reversal appeared briefly at 226,072 ARS but was negated by subsequent buying pressure. This suggests that sellers lost momentum following the drop to 223,947 ARS, with buyers stepping in to absorb the dip.

Structure & Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were in a bullish alignment by the close. A key support level appeared near 223,947 ARS, with a resistance forming at 226,576 ARS. The 200-period daily MA is currently not available, but intraday momentum indicates a potential shift in sentiment from bearish to bullish.

Momentum & Volatility

RSI entered oversold territory at the 223,947 ARS level and has since bounced back into neutral to mildly overbought territory. MACD turned positive, with a narrowing histogram indicating possible exhaustion in the current upswing. Bollinger Bands showed a clear expansion during the volatility spike, with the price closing near the upper band, suggesting heightened optimism.

Volume and Turnover

Volume surged during the sharp intraday decline and again as the price attempted to recover, indicating active participation from buyers. The volume-to-price divergence was minimal, with rising volume supporting the price action. Turnover also increased during the rebound, reinforcing the strength of the reversal.

Fibonacci Retracements

Fibonacci retracements of the key drop from 228,849 ARS to 223,947 ARS indicate 226,576 ARS as a critical 50% retracement level, with 225,630 ARS (38.2%) and 227,434 ARS (61.8%) serving as potential pivot points. The price is now testing the upper end of the 61.8% level, with further gains likely if it holds.

Backtest Hypothesis

To evaluate the robustness of these patterns, a backtest using the Bearish Engulfing pattern is proposed. This strategy would identify short-selling opportunities when the pattern appears and exit the position at the close of the next trading day. Given the recent bullish reversal and increasing momentum, testing this approach on similar setups in the past could help assess its efficacy in volatile environments like Solana/Argentine Peso. A test period from 2022-01-03 to 2025-11-13 would allow for comprehensive evaluation.