Market Overview for Ondo/Turkish Lira (ONDOTRY) on 2025-11-12

Summary
• ONDOTRY opened at 28.25, hit 28.57, dropped to 27.41, and closed at 28.38 over the last 24 hours.
• Price swung between key resistance at 28.50 and support near 27.68, with a bearish break below 28.00 before recovery.
• Volume spiked at 16,230.84 units at 20:15 ET, with overall volume at 144,488.75 units and turnover of $3,973,151.91.

The 24-hour period for Ondo/Turkish Lira (ONDOTRY) saw a volatile session beginning at 28.25 (12:00 ET−1) and closing at 28.38 (12:00 ET) with an intraday high of 28.57 and a low of 27.41. The total volume traded was 144,488.75 units, with a notional turnover of approximately $3,973,151.91. A bearish breakdown below 28.00 at 20:15 ET suggested a possible reversal before a late-day rebound.

Structure & Formations

Price tested key resistance at 28.50 multiple times, failing to break through. A notable bearish engulfing pattern occurred at 19:00–20:30 ET as the price dropped from 28.04 to 27.79. A strong support level emerged at 27.68–27.70, with a pullback forming a potential bullish hammer at 05:45–06:00 ET. These patterns suggest a tug-of-war between bulls and bears in a tight 27.68–28.57 range.

Moving Averages

On the 15-minute chart, the 20-period (28.46) and 50-period (28.38) moving averages crossed near the close, suggesting a possible reversal in momentum. On the daily chart, the 50-period (28.50) and 200-period (28.25) averages remain aligned with the 28.38 close, indicating a continuation of the broader consolidation trend.

MACD & RSI

MACD showed bearish divergence during the mid-session decline, with the line dipping below the signal line. RSI fluctuated between 30–50, indicating a neutral to slightly oversold condition during the 27.68–28.00 pullback. A retest of RSI above 50 suggests a potential short-term rally but not a strong breakout.

Bollinger Bands

Price remained within the 27.68–28.57 Bollinger Band range for most of the session, with a brief contraction near 28.00 before an expansion during the late recovery. Price closed near the upper band at 28.38, suggesting a bullish bias in the short term, but with caution needed for volatility.

Volume & Turnover

Volume spiked at 16,230.84 units during the 20:15 ET candle, confirming the bearish breakdown. However, this was followed by a sharp volume contraction as price bounced from 27.68. The divergence between price and volume during the recovery suggests a weak rally unless further volume confirms the move.

Fibonacci Retracements

Applying Fibonacci to the 27.41–28.57 swing, key levels are at 27.96 (38.2%) and 28.30 (61.8%). Price retested 28.30–28.35 during the late recovery, suggesting that 28.45 is the next potential resistance level, while a failure to hold 28.25 could signal further consolidation.

Backtest Hypothesis

The Bearish Engulfing pattern observed on the 19:00–20:30 ET candles could have acted as a sell signal. Given the 24-hour rebound, the 1-day holding strategy would have yielded a modest gain. Over the 2022–2025 period, such a pattern may have proven effective in capturing short-term bearish moves, but its success depends on volatility and liquidity. In a low-volume market like ONDOTRY, confirmation via increased turnover is crucial for reliable execution.