Market Overview for 1000*Simon's Cat/Turkish Lira (1000CATTRY)

Summary
• Price dropped from 0.213 to 0.182 on heavy volume, signaling bearish momentum.
• Overbought RSI flipped to oversold, indicating exhausted bulls.
• Bollinger Bands widened, showing increased volatility.

The 1000*Simon's Cat/Turkish Lira (1000CATTRY) opened at 0.213 on 2025-11-02 at 12:00 ET, reached a high of 0.214, a low of 0.174, and closed at 0.193 at 12:00 ET on 2025-11-03. Total volume for the 24-hour period was 29,178,454.4, with notional turnover of approximately 5,377,500 Turkish Lira.

Price action showed a sharp bearish reversal, starting with a bearish engulfing pattern at 0.213 before a sustained drop below 0.200, finding temporary support at 0.193–0.194. The price closed the 24-hour period in a lower consolidation phase. Key support levels appear around 0.193–0.195 and 0.182–0.183, both of which saw increased volume on the breakdown. Resistance levels at 0.206–0.207 and 0.211–0.213 could be critical if the trend reverses.

The 20-period and 50-period moving averages on the 15-minute chart remained bearish, with price action staying below both. The RSI has moved from overbought to oversold, suggesting potential exhaustion in the downward move. MACD lines showed a bearish crossover, with negative divergence. Bollinger Bands have widened significantly, reflecting increased volatility and uncertainty in the near term.

Volume spiked heavily during the breakdown below 0.200 and again during the 0.182 low, confirming bearish conviction. Notional turnover followed volume closely, indicating alignment in price and liquidity flows. A divergence between volume and price momentum could warn of a potential reversal, but current data supports the bearish bias.

Fibonacci retracement levels from the 0.214 high to the 0.174 low show key levels at 61.8% (0.193–0.194) and 38.2% (0.185–0.186). These could serve as pivot points for near-term trading decisions.

Backtest Hypothesis
To evaluate potential short-term trading opportunities, a backtesting strategy could be applied using 1000CATTRY as the target. A “Bearish Engulfing” candlestick pattern identified during the breakdown to 0.182 would trigger a short entry. A fixed holding period of 5 trading days, combined with a stop-loss at +8% and a take-profit target of –10%, could manage risk and reward effectively. This approach leverages the observed bearish momentum and strong volume confirmation to test the sustainability of the downward move.