Market Overview for Dolomite/Turkish Lira (DOLOTRY) on 2025-11-12

Summary
• Price swung sharply lower before consolidating near 2.69–2.71 in overnight trading.
• Volume surged near key support levels, suggesting potential accumulation.
• RSI and MACD hint at oversold conditions, but trend remains bearish.

Dolomite/Turkish Lira (DOLOTRY) opened at 2.799 on 2025-11-11 at 17:00 ET and closed at 2.761 at 12:00 ET on 2025-11-12. The 24-hour high was 2.806, and the low was 2.637. Total volume reached 1,237,000.4 units, with notional turnover of approximately 3,360,502.3 (volume × average price).

The price action displayed a sharp bearish thrust after 19:45 ET, with a key breakdown below the 2.73 level and a test of support near 2.69. While the RSI entered oversold territory (below 30), MACD remained bearish, with a negative histogram and a slow-moving zero-line crossover. This suggests short-term buying interest but continued downward bias.

A 20-period and 50-period EMA on the 15-minute chart showed price well below both, reinforcing the bearish bias. Bollinger Bands reflected a moderate expansion, with price bouncing near the lower band multiple times, indicating volatility and potential consolidation. A 200-period daily EMA could act as a key resistance level in the near term.

Fibonacci retracements on the 15-minute swing from 2.799 to 2.637 highlighted key levels: 38.2% at 2.730 and 61.8% at 2.678. Price tested the 61.8% level twice, showing some short-covering interest but ultimately failing to break above.

Volume spiked near key support levels (2.70, 2.69) but failed to confirm a strong reversal. Notional turnover spiked as price tested 2.69–2.70, suggesting increased participation. However, a divergence between volume and price remains a cautionary signal for further downside.

Backtest Hypothesis
A potential backtest could be constructed using the DOLOTRY 15-minute chart by identifying key reversal candlestick patterns (such as the Bearish Engulfing or Doji) within a defined range of support and resistance levels. Short entries could be triggered when the pattern forms and the close is below a defined support (e.g., a recent swing low or a 20-period low). Exit signals could be based on reaching a fixed stop-loss level, hitting a 5% take-profit target, or price breaking above key resistance (e.g., 2.75 level). Using open prices for entries and exits would align with intraday strategies, and risk management rules could include a maximum holding period of 24 hours or 4–6 candlesticks. Testing this logic from 2022-01-01 to 2025-11-12 would reveal whether such a strategy could profit from DOLOTRY’s volatile and choppy price action.