Market Overview for THENA/Turkish Lira (THETRY) on 2026-01-12

Summary
• Price surged from 9.45 to 10.25, forming bullish engulfing and hammer patterns near 9.98 and 10.05.
• RSI spiked above 70 during the final 2 hours, indicating potential overbought conditions.
• Volume and turnover surged in final 3 hours, with 90k+ trades pushing price to 10.25.
• Bollinger Bands expanded in late session, reflecting rising volatility and momentum.
• 50-period and 200-period moving averages on 5-min chart crossed above 9.6–9.7 range, confirming upward bias.

At 12:00 ET–1 on 2026-01-12, THETRY opened at 9.454, reached a high of 10.253, a low of 9.346, and closed at 10.168. The 24-hour volume was 1,329,699.5 and the notional turnover was 13,008,905.8 Turkish Lira.

Structure and Formations

The price action showed strong upward momentum from 9.346, with key support levels at 9.6, 9.45, and 9.395. A bullish engulfing pattern emerged near 9.98, followed by a long-legged doji at 10.05. A hammer-like candle at 10.04 suggested a potential reversal point or continuation of bullish sentiment. Fibonacci retracement levels aligned with the 61.8% level around 10.05, which acted as a pivot for the final rally.

Technical Indicators

MACD turned positive after 8:30 PM ET, confirming the strength in buying momentum during the late session.

RSI reached overbought territory (75) during the last 2 hours, indicating short-term exhaustion but not necessarily a reversal. On the 5-minute chart, the 20-period MA crossed above the 50-period MA, supporting the upward trend. The 200-period MA was also trending higher, suggesting a continuation of the long-term bullish bias.

Volatility and Bollinger Bands

Bollinger Bands expanded significantly during the last 3 hours as price surged to 10.253. Price remained outside the upper band for a brief period, signaling strong volatility and potential exhaustion. The narrowing of bands earlier in the session indicated a consolidation phase before the breakout.

Volume and Turnover

Volume increased sharply in the last 3 hours, with over 90k trades contributing to the final high. Turnover spiked in tandem with price action, confirming the strength of the move. No divergence between volume and price was observed, reinforcing the validity of the trend.

The market appears to have broken out of a 24-hour consolidation with strong volume support. A continued rally above 10.25 could target 10.45–10.50 levels, but a pullback to test 9.98–10.05 may occur. Investors should watch for overbought RSI readings and potential retests of key Fibonacci levels.