Market Overview: Plume/Turkish Lira (PLUMETRY) - 24-Hour Breakdown

• PLUMETRY rose to 4.655 before correcting sharply, with bearish momentum emerging in final hours.
• Volatility expanded mid-day as price swung over 120 pips, while volume increased in late-ET selling.
• RSI entered overbought territory near 75, but a bearish crossover and shrinking Bollinger Bands suggest near-term exhaustion.
• A bullish engulfing pattern was rejected at 4.655, while a 61.8% Fibonacci retracement at ~4.53 aligned with late-day support.
• Turnover surged to ~13.8 million TRY in 15-minute intervals during the afternoon sell-off, confirming bearish conviction.

Plume/Turkish Lira (PLUMETRY) opened at 4.418 on 2025-10-07 at 12:00 ET and reached a high of 4.655 before closing at 4.551 at 12:00 ET the next day. Total 24-hour volume was 11,853,026.0 TRY, with turnover totaling ~26,583,465.4 TRY.

Structure & Formations

PLUMETRY displayed a distinct reversal structure from a late-morning high of 4.655, where a bullish engulfing pattern failed to hold. The price dropped to a low of 4.402 in the early hours of 2025-10-08, forming a bearish continuation pattern. A key support level was identified around 4.52–4.53, where price found bids after midday weakness. A doji formed near 4.551 in the final 15-minute candle, suggesting indecision and potential exhaustion in the immediate term. The 61.8% Fibonacci retracement of the 4.402–4.655 swing aligned with this level at ~4.53, reinforcing its significance.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart showed a bearish crossover in the afternoon, confirming a shift in momentum. The 50-period MA on the daily timeframe was above the 200-period MA, indicating a longer-term bullish bias, but the 100-period MA was closing the gap from above, hinting at potential near-term consolidation. Price closed below the 50-period MA for the first time in the 24-hour period, signaling a possible pullback.

MACD & RSI

The MACD line crossed below the signal line after 10:00 ET, confirming bearish momentum. RSI peaked at 75, entering overbought territory before declining to ~49, suggesting weakening bullish conviction. RSI divergence from price was minimal, but the recent bearish crossover and RSI retesting of midline levels suggest a high probability of a retest of 4.402–4.45 support zone. The histogram showed bearish divergence after the afternoon high, reinforcing the likelihood of a continuation in the near term.

Bollinger Bands

Bollinger Bands expanded significantly after the morning high, reflecting rising volatility. Price peaked at 4.655, near the upper band, before rolling down and settling into the lower half of the bands by the end of the 24-hour period. The contraction and subsequent expansion of the bands indicated a period of consolidation followed by sharp directional movement. The closing candle was near the middle band, suggesting a potential pause in the downward move, but the bearish momentum remains intact for the time being.

Volume & Turnover

Volume spiked during the late-ET sell-off, with the 15-minute candle at 12:30–12:45 ET showing the largest volume at ~501,428 TRY. Turnover increased in tandem, peaking during the 12:15–12:45 ET window. A divergence between price and turnover was not observed, as both moved in tandem during the key bearish phase. The volume profile confirmed the rejection at 4.655 and supported the move toward 4.53–4.55. However, the final hour showed a drop in volume, indicating waning bearish pressure.

Fibonacci Retracements

The 61.8% level at ~4.53 acted as strong support during the late-day sell-off, halting further downside. The 38.2% retracement at ~4.59 held as a minor resistance level. On the 15-minute chart, the 61.8% retracement of the 4.523–4.547 swing aligned with the 4.53 level, reinforcing the technical significance of this area. A retest of this level is expected in the next 24 hours with the potential for a bounce or further breakdown.

Backtest Hypothesis

A backtesting strategy could be built around the combination of RSI divergence, bearish MACD crossover, and Bollinger Band breakouts. When RSI enters overbought territory and the MACD confirms a bearish crossover, followed by a breakout below the Bollinger Band’s middle line, a short bias could be initiated with a stop above the recent swing high. The 61.8% Fibonacci level and key moving average crossovers would serve as dynamic support and target levels. Given the recent volatility and confirmation of bearish momentum, this setup could be tested on PLUMETRY’s 15-minute data for directional trading opportunities.