DOLOTRY Market Overview: Volatility, Divergence, and Overbought Conditions in 24 Hours

• Price surged to a 24-hour high of 7.35 before retracing to close near 7.352 at 12:00 ET.
• Strong bullish momentum seen in early morning, followed by consolidation and mixed-volume divergence in the afternoon.
• MACD remained positive with a rising signal line, while RSI showed overbought levels during the peak.
• Volatility spiked early, then contracted, with price currently near the upper Bollinger Band.
• Notable volume surges coincided with key resistance breakouts but faded during pullbacks.

Dolomite/Turkish Lira (DOLOTRY) opened at 7.039 on 2025-09-13 at 12:00 ET, surged to a high of 7.48, and closed at 7.352 at 12:00 ET on 2025-09-14. The 24-hour period saw a total volume of 105,219,452.1 and a notional turnover of approximately $748.9 million.

The candlestick pattern over the 24 hours showed strong bullish momentum early in the morning, breaking above key resistance levels with large bullish bodies and narrow wicks. A sharp move up to 7.48 followed, which coincided with a volume spike. However, after reaching the peak, the price began consolidating, and volume dropped sharply, indicating possible profit-taking. A series of smaller bullish and bearish candles emerged with no clear directional bias, and the RSI reached overbought levels before retracing slightly. The price appears to be in a volatile state, with a potential pullback forming as volume failed to confirm continued strength in the afternoon.

Structure & Formations

DOLOTRY formed a strong bullish breakout pattern in the early morning, breaking above key resistance at 7.25 and 7.35 before surging to 7.48. A large bullish candle at 08:00 ET marked a breakout with a high of 7.35 and a close of 7.336. This was followed by a smaller-bodied candle at 08:15 ET that closed slightly lower, forming a potential bearish consolidation pattern. The price then hovered near the upper Bollinger Band for much of the afternoon, with a small bearish candle at 14:45 ET indicating a potential short-term top.

A doji-like pattern appeared at 14:45 ET, suggesting indecision after a sharp rise, while a long-bodied bearish candle at 15:15 ET hinted at bearish continuation. A potential support zone formed between 7.10 and 7.15, which the price tested multiple times but failed to break decisively. The price remains above critical support at 7.10, indicating strong bearish resistance in that area.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages remained bullish for most of the session, with the 50-period line acting as a dynamic support at around 7.20–7.25. The 50-period line crossed above the 20-period line in the early morning, confirming the bullish breakout.

On the daily chart, the 50-period, 100-period, and 200-period moving averages all trended upward but showed signs of flattening by the end of the session. The 50-period line was at ~7.27, the 100-period at ~7.17, and the 200-period at ~7.15, suggesting that the price is currently above all of them but not significantly diverging. This supports a neutral-to-bullish bias but warns of a potential flattening trend.

MACD & RSI

The 15-minute MACD histogram remained positive for most of the session, with the signal line rising in tandem with price action. A divergence appeared in the early afternoon as price made higher highs while MACD showed lower highs, indicating potential exhaustion in the bullish momentum.

RSI reached overbought levels (above 70) during the morning breakout and remained elevated until the mid-afternoon, when it began to correct. By 15:15 ET, RSI had fallen below 60, indicating a return to neutral territory. This suggests a potential bearish reversal could be in the cards if the price breaks below the 7.35–7.40 range without confirmation from volume.

Bollinger Bands

Volatility was highly variable during the 24-hour period. The price surged to the upper Bollinger Band by mid-morning and remained there for much of the day, indicating high volatility. A contraction in the bands was noted in the early afternoon as the price moved into a narrower range, suggesting possible consolidation.

The price currently sits near the upper Bollinger Band, with a potential overextension risk. A break above the band with increasing volume could indicate further bullish momentum, while a break below the 20-period MA with a drop inside the lower band may signal a reversal.

Volume & Turnover

Volume was strong during the early morning breakout, peaking at 1.6 million at 09:45 ET and remaining above 0.8 million for several hours. This confirmed the bullish breakout pattern. However, after 12:00 ET, volume dropped sharply, and by 15:00 ET, it had fallen to under 0.5 million.

Turnover peaked at ~$54 million during the morning surge and then declined gradually in the afternoon. A divergence between price and turnover was observed after 13:00 ET, where the price continued to consolidate without a corresponding volume increase. This may indicate a weakening in conviction among buyers and the potential for a pullback.

Fibonacci Retracements

On the 15-minute chart, the price retested key Fibonacci levels after the morning breakout. The 61.8% level at ~7.33 and 38.2% at ~7.28 were both tested and held, but the price failed to confirm a strong move past the 7.38 level.

On the daily chart, Fibonacci levels aligned with the 20-period and 50-period moving averages, reinforcing the support at 7.10–7.15 and potential resistance at 7.40–7.45. The price appears to be forming a potential countertrend pattern near these levels, with a possible reversal or continuation expected depending on volume and follow-through.

Backtest Hypothesis

Applying a Trend-Following with Fibonacci and Volume Filter strategy to this period could have captured part of the morning breakout. A long entry would have occurred upon breaking the 20-period MA with confirmation of increasing volume, with a stop loss placed just below the 7.25 level. A take-profit target could have been set at the 61.8% Fibonacci level (~7.33), or extended to the 7.38–7.40 range if the 50-period MA remained above the 20-period MA. The divergence in volume and RSI during the mid-afternoon suggests a reversal could have been triggered by a close below the 20-period MA with a drop in turnover, limiting losses or locking in profits.