Market Overview: Plume/Turkish Lira (PLUMETRY) – 24-Hour Candlestick Analysis

• Price declined to 2.975 at 21:15 ET after reaching a high of 3.10.
• Momentum slowed through the RSI as bearish divergence emerged.
• Volatility expanded briefly in the 17:00–20:00 ET window.
• Volume spiked during the 19:15–19:30 ET session, confirming a pullback.
• A bearish engulfing pattern formed near 3.05–3.03 in late ET trading.

Plume/Turkish Lira (PLUMETRY) opened at 3.07 on 2025-10-22 at 12:00 ET and closed at 2.972 on 2025-10-23 at the same hour. The pair reached a high of 3.10 and a low of 2.915, with total volume of 26,791,622.0 and turnover of 79,253.5 Turkish Lira. The 24-hour chart shows a sharp pullback from the morning high, with bearish momentum taking hold after 19:00 ET.

Structure & Formations

The 15-minute OHLC data indicates a key resistance zone between 3.05 and 3.07, where the price struggled to hold during the afternoon session. A bearish engulfing pattern formed at 19:15–19:30 ET, confirming a shift in sentiment. Notable support levels appear at 2.975 and 2.95, where the price found brief stability. A long lower shadow at 21:15 ET suggests a temporary bounce but not a reversal.

Moving Averages and MACD/RSI

The 20- and 50-period moving averages on the 15-minute chart crossed bearishly in the early evening session, adding to the bearish bias. RSI dipped below 30, indicating oversold conditions, but failed to trigger a strong rebound. MACD showed a bearish crossover, with the histogram declining in volume. This suggests weakening momentum and potential for further downside, though a short-term bounce cannot be ruled out.

Bollinger Bands and Volume

Bollinger Bands widened from 17:00–20:00 ET, reflecting increased volatility. The price traded near the lower band in the 21:00–22:00 ET window, suggesting oversold conditions. Volume spiked at 19:15–19:30 and 21:15 ET, coinciding with bearish reversals. Notional turnover also increased during those periods, reinforcing the price action. A divergence between volume and price decline after 22:00 ET suggests caution in expecting a full capitulation.

Fibonacci Retracements

Key Fibonacci levels derived from the 3.07–3.10 high and 2.915 low include 3.05 (23.6%), 3.03 (38.2%), and 2.975 (61.8%). Price found support at the 61.8% level before stalling. A retest of the 2.95–2.97 support zone may provide confirmation of a short-term bottom or trigger another wave of selling pressure.

Backtest Hypothesis

A potential backtesting strategy could focus on confirming the bearish engulfing pattern at 19:15–19:30 ET as a sell signal. A stop-loss above the 3.05 resistance level and a target at 2.95 align with the Fibonacci and RSI indicators. While the volume surge supports the signal’s validity, further confirmation would be needed if using the pattern in isolation, particularly to avoid false breakouts or early entries. This pattern could form the basis of a broader mean-reversion or trend-following strategy if applied to multiple timeframes.