Market Overview: Polymesh/Turkish Lira (POLYXTRY) — 24-Hour Candlestick Analysis

• Polymesh/Turkish Lira (POLYXTRY) opened at 3.62 and closed at 3.63, with a high of 3.7 and a low of 3.59.
• Price consolidated near 3.64 before a late rally to 3.7, followed by a pullback near 3.63.
• High volume spikes occurred at 04:45 ET and 09:00 ET, correlating with price breakouts.
• RSI hovered near overbought levels, while MACD showed a mixed signal with a weak positive crossover.
• Volatility expanded early, then contracted as the session progressed.

Opening Summary and Price Action

Polymesh/Turkish Lira (POLYXTRY) opened at 3.62 on 2025-10-23 at 12:00 ET and closed at 3.63 on 2025-10-24 at the same time. During the 24-hour period, the pair reached a high of 3.7 and a low of 3.59. Total volume traded was 16,818.0 units, with a notional turnover of 61,414.6 Turkish Lira. Price action showed consolidation near 3.64 in the early hours, a breakout to 3.7 near the 13:00–14:00 ET window, and a gradual pullback to 3.63 by the end of the period.

Structure & Key Levels

The candlestick pattern suggests a bullish breakout from a 1.5-hour consolidation phase near 3.64. A strong 15-minute green candle at 04:45 ET (closing at 3.65) and another at 09:00 ET (closing at 3.66) helped confirm the breakout. A bearish reversal formed at 05:15 ET (a 15-minute candle closing at 3.67) and at 08:00 ET (a 15-minute candle closing at 3.65), indicating internal resistance above 3.65. Key support levels are now forming at 3.62–3.63, with resistance near 3.65–3.67.

Volatility and Bollinger Bands

Volatility expanded early in the session, with price reaching the upper Bollinger Band at 3.7. After the 05:15 ET reversal, volatility began to contract, and price moved closer to the middle band. The narrowing of the bands suggests a potential for a break or consolidation phase. If price holds above 3.63, the upper band could reexpand as support turns to resistance.

Moving Averages and Momentum

On the 15-minute chart, the 20-period MA (3.64) and 50-period MA (3.64) were closely aligned, suggesting a flat to slightly bullish trend. The 50-period MA is set to cross above the 100-period MA (3.64) over the next few hours, which could signal a short-term bullish bias. On the daily chart, the 50-period MA is at 3.64, and the 200-period MA at 3.63, indicating a neutral-to-bullish trend.

RSI and MACD Signals

The RSI reached overbought territory (70+ level) near 3.7 and remains near that area, suggesting potential exhaustion in the upward move. The MACD line crossed above the signal line at 04:45 ET, forming a weak golden cross, but the divergence between the price and the MACD histogram suggests caution. A bearish divergence may form if the RSI fails to retest 70 and the price falls below 3.64 without a strong volume confirmation.

Volume and Turnover Insights

Volume spiked significantly at two key points: the 04:45 ET breakout (2874.2 units) and the 09:00 ET rally (6332.0 units). These spikes were followed by price consolidation or pullbacks, suggesting mixed momentum. Turnover also increased sharply during these intervals, aligning with the price action. A notable divergence occurred around 08:00 ET, where volume dropped (83.4 units), yet price moved lower to 3.65, indicating a potential weakening of the bullish bias.

Fibonacci Retracements and Key Swings

Applying Fibonacci to the 15-minute swing from 3.59 to 3.7, the 38.2% level is at 3.65 and the 61.8% at 3.62. The 3.63 close aligns closely with the 61.8% retrace level, suggesting a possible near-term bottom. On the daily chart, the 50% retrace level of the longer-term move is at 3.64, which is currently acting as a support and could become a pivot for further consolidation or breakout.

Backtest Hypothesis

Given the mixed MACD and overbought RSI levels observed today, a backtest based on the “MACD golden cross + RSI > 70” hypothesis could provide insight into its predictive power for this pair. This strategy typically signals a short-term bullish reversal, but today’s divergence in volume and the bearish candle on RSI suggest caution. Applying this hypothesis across a longer time frame (2022–2025) would help determine its effectiveness for Polymesh/Turkish Lira, assuming the correct ticker symbol is used for data retrieval.