0.084 TRY Resistance Fails as Momentum Diverges

Summary
• Price tested key resistance at 0.084 TRY but failed to hold above.
• Volatility surged during early ET hours, with a notable expansion in price range.
• Momentum indicators signaled overbought conditions mid-session before a pullback.
• Bollinger Bands showed a tight pre-market contraction followed by a breakout attempt.
• Volume spiked above 8 million CATTRY during a critical 6:15–6:45 ET trading block.

24-Hour Snapshot

The 1000*Simon's Cat/Turkish Lira (1000CATTRY) opened at 0.082 TRY on 2026-02-07 12:00 ET, reached a high of 0.084 TRY, and closed at 0.082 TRY on 2026-02-08 12:00 ET, with a low of 0.081 TRY. Total volume for the 24-hour window was 14,283,104.4 CATTRY, and notional turnover was 1,171,693.16 TRY.

Structure and Key Levels

Price tested the 0.084 TRY resistance level multiple times, forming several bullish and bearish engulfing patterns during mid-ET trading. A 61.8% Fibonacci retracement level aligned closely with 0.083 TRY, where the pair found intermittent support. The 0.081 TRY level emerged as a firm support, coinciding with a prior swing low and a 38.2% retracement level.

Trend and Momentum

Momentum, as measured by the MACD and RSI, appeared overbought during the 5:30–6:45 ET window as price surged above 0.082 TRY. However, subsequent bearish momentum reversed the trend, with RSI dropping below 50 and MACD forming bearish divergence. This suggests the 0.084 TRY level may be structurally challenging without stronger volume confirmation.

Volatility and Bollinger Bands

Bollinger Bands exhibited a sharp contraction just before the market opened on 2026-02-08, followed by a breakout attempt to the upper band. By 9:00–10:00 ET, price traded within a tighter range, suggesting a potential consolidation phase. Volatility remains elevated compared to prior sessions, with a 24-hour trading range of 0.003 TRY.

Volume and Turnover Analysis

Volume spiked dramatically at 6:15 ET, with 8,683,567.5 CATTRY traded in a single 15-minute interval, coinciding with a price high of 0.082 TRY. This surge confirmed short-term bullish momentum. However, turnover diverged slightly from price during the late ET pullback, which may signal weakening conviction among buyers.

Forward Outlook

The next 24 hours may see renewed attempts to test 0.084 TRY resistance, particularly if volume remains elevated and buying pressure persists. However, caution is warranted as overbought conditions and divergences suggest a potential pullback into the 0.081–0.082 TRY range. Investors should monitor for a breakdown below 0.081 TRY, which could signal a shift in the short-term trend.