Market Overview for Dolomite/Turkish Lira (DOLOTRY) on 2025-10-03

• Price surged ~14.2% from 4.331 to 4.675 in 24 hours on strong late-day buying.
• High volatility seen in late ET hours with multiple breakouts above prior resistance.
• Volume spiked in early morning ET, confirming bullish momentum in 4.6–4.8 range.
• RSI overbought, suggesting potential pullback or consolidation in short term.
• Bollinger Bands expanded widely, indicating a continuation of strong directional bias.

24-Hour Price and Volume Summary

Dolomite/Turkish Lira (DOLOTRY) opened at 4.331 at 12:00 ET–1 and surged to a high of 4.800 before closing at 4.675 at 12:00 ET. Total volume reached 18,236,826.2, with a notional turnover of approximately 82,974,422.8 Turkish Lira over 24 hours. The price action showed a strong bullish bias, particularly from 4:30–7:00 ET, with several breakout candles forming above key resistance levels.

Structure & Formations

The 24-hour chart displayed a strong bullish trend marked by several notable formations. A bullish engulfing pattern emerged at 4:30 ET as price moved from 4.530 to 4.601 on strong volume. A second engulfing pattern appeared at 6:45 ET, pushing price up to 4.739. A significant breakout occurred at 10:45 ET as price broke above the 4.489 level. Bollinger Bands widened in the late ET hours, signaling increased volatility. Support levels at 4.325–4.343 and 4.408–4.425 appear significant for short-term pullbacks.

Moving Averages and Momentum

Using a 20/50-period moving average on the 15-minute chart, the price remained above the 50-period line for most of the session, indicating strong momentum. The 50-period MA crossed above the 20-period MA at 4:30 ET, forming a bullish “golden cross.” The 50/100/200 daily averages show DOLOTRY well above its 50-day MA, reinforcing a longer-term bullish bias. MACD showed a strong positive divergence, with the histogram expanding in the late ET hours. RSI reached overbought levels (above 70) for multiple 15-minute periods, hinting at potential near-term exhaustion or consolidation.

Volatility and Fibonacci Levels

Volatility spiked sharply between 4:30 and 7:00 ET, with a range of over 370 pips in a single 15-minute interval. Bollinger Bands widened to over 0.300 range, reflecting strong directional bias. Fibonacci retracement levels from the 4.325–4.601 swing showed price finding resistance at the 61.8% level (4.513) before breaking out above. A similar retracement from the 4.513–4.739 swing showed price testing 61.8% at 4.660 before closing at 4.675.

Backtest Hypothesis

Given the recent bullish momentum and multiple breakout formations, a potential backtest strategy could involve entering long positions on the 15-minute chart at the close of bullish engulfing patterns, particularly when accompanied by volume spikes above average. A stop-loss could be placed below the prior swing low, and a take-profit target could be set at the next Fibonacci level. This approach would be most effective in a trending market environment like the one observed on 2025-10-03.