A company's web application experiences unpredictable traffic, leading to underused instances during off-peak hours and performance degradation during traffic spikes. The application is hosted on EC2 instances and requires a solution that scales the compute resources effectively while minimizing cost. Which AWS service or feature should the solutions architect recommend to meet these requirements?
Purchase Reserved Instances to ensure capacity while reducing costs.
Enable EC2 Hibernation for instances during off-peak traffic periods.
Implement EC2 Auto Scaling to automatically add or remove instances based on traffic demands.
Utilize Spot Instances for cost savings during off-peak hours.