Market Overview for Dolomite/Turkish Lira (DOLOTRY) on 2025-10-08

• DOLOTRY traded in a tight range with a 1.16% drop from open to close amid mixed momentum indicators.
• Key support found at 4.46–4.47 while resistance appears at 4.52–4.54 based on price clustering and failed breakouts.
• Volatility expanded during the early morning hours, reaching a 15-minute range of 4.43–4.48.
• Volume spiked near the end of the 24-hour window, suggesting accumulation or distribution.
• RSI and MACD showed diverging signals, hinting at potential exhaustion or reversal cues.

Market Overview

Dolomite/Turkish Lira (DOLOTRY) opened at 4.51 on 2025-10-07 12:00 ET and closed at 4.501 by 2025-10-08 12:00 ET, with a high of 4.575 and a low of 4.374 during the 24-hour period. Total volume reached approximately 2,406,504.3, and notional turnover totaled approximately 10,559,619.5 (DOLOTRY-denominated). Price action displayed consolidation within a range-bound structure, with a failed attempt to break above 4.575.

Structure & Formations

DOLOTRY formed a key support zone around 4.46–4.47, confirmed by multiple closes and failed short-term bearish breakouts. A bearish engulfing pattern occurred during the 08:45–09:00 ET period, signaling potential bearish momentum. The 15-minute chart showed a series of indecisive dojis and hammers during consolidation, with price rebounding off the lower Bollinger Band near 4.43–4.44. A 61.8% Fibonacci retracement level from the recent high (4.575) to low (4.374) is at 4.495, which has held as a key pivot.

Moving Averages

On the 15-minute chart, price closed below the 20-period and 50-period moving averages, suggesting short-term bearish bias. The 20-period MA is at 4.502, while the 50-period MA is at 4.508. The 200-period MA on the daily chart, if derived, would be expected to sit well above current levels, indicating a medium-term bearish context. Price has remained within a narrow range, suggesting lack of strong directional momentum.

MACD & RSI

The MACD line crossed below the signal line in the morning and remained negative throughout the period, with the histogram showing diverging bearish momentum. RSI oscillated between 35–60, failing to enter overbought or oversold territory. A bearish divergence was noted between price and RSI during the early morning hours, as price made a lower low but RSI made a higher low, suggesting potential bearish continuation.

Bollinger Bands

Volatility expanded significantly during the early morning hours, with the Bollinger Bands widening to over 0.10 in range. Price closed near the lower Bollinger Band at 4.43–4.44 during the 03:30–04:45 ET window, indicating oversold conditions. However, the failure to hold above 4.45–4.46 suggests that the lower band is not a strong support level but rather an area of psychological significance. A contraction in volatility is expected as the market heads into the next 24-hour cycle.

Volume & Turnover

Volume spiked during the 05:45–06:00 and 14:45–15:00 ET periods, coinciding with lower closes and higher turnover. Notional turnover also increased during the final 4 hours of the 24-hour period, which could indicate accumulation by institutional actors or a distribution event. Price and volume action diverged during the 03:45–04:15 ET period, with volume declining while price continued to fall, signaling potential bearish exhaustion or a short-term bottoming process.

Backtest Hypothesis

A potential backtest strategy could focus on the key 4.46–4.47 support level identified in this period. Traders may consider setting a buy-stop just above 4.46 and a sell-stop just below 4.47 to capture directional bias. Given the divergence between RSI and price during the early morning hours, a reversal strategy entering on a break of the 4.46 support with a stop above 4.50 and a target at 4.37–4.40 could be backtested. Additionally, the bearish engulfing pattern at 08:45–09:00 ET could be used as a signal for short entries, with a stop above the engulfing high and a target at the 4.43–4.44 level.