EDENTRY Consolidates Below 1.58 Amid Waning Volume and Oversold RSI

Summary
• Price action shows a bearish consolidation with key support at 1.54–1.56 and resistance at 1.58–1.60.
• Momentum indicators suggest weakening bullish pressure, with RSI hovering near oversold levels.
• Volatility dipped in the final hours, with price settling near lower Bollinger Bands.
• Volume and turnover saw a sharp decline during the overnight session, indicating reduced liquidity.

Market Overview

OpenEden/Turkish Lira (EDENTRY) opened at 1.58 on 2026-02-06 at 12:00 ET, reached a high of 1.63, fell to a low of 1.47, and closed at 1.51 on 2026-02-07 at 12:00 ET. Total volume over the 24-hour period was 9,528,091.5 units, with a notional turnover of approximately 14,480,394.5 Turkish Lira.

Structure & Moving Averages

Price action over the 5-minute chart suggests a bearish trend, with 20 and 50-period moving averages sloping downward, reinforcing weakness below key resistance at 1.58–1.60. On the daily chart, the 50-period MA sits above the 200-period MA, suggesting a mixed bear-bull balance, though the price has failed to reclaim critical levels above 1.60.

Momentum and Volatility Indicators

Relative Strength Index (RSI) remains in oversold territory (<30) for much of the session, indicating a potential near-term bottom. Momentum appears to have waned as MACD lines flatten. Bollinger Bands show a recent contraction, suggesting a period of consolidation before a potential breakout.

Volume and Turnover

Volume spiked during the early hours of the session, particularly around 03:00–04:00 ET, but declined sharply after 07:00 ET. Notional turnover mirrored this trend, falling to near zero by 00:00–01:00 ET. Price and volume appear to diverge slightly in the overnight hours, hinting at reduced participation from larger traders.

Fibonacci and Key Levels

Key Fibonacci retracement levels from the 1.63 high to 1.47 low include 1.55 (61.8%) and 1.58 (38.2%). Price tested the 61.8% level multiple times before consolidating near 1.51. A retest of 1.55 could confirm short-term support or trigger a rebound, depending on volume.

The market appears to be in a consolidation phase, with limited volatility and declining participation. A break above 1.55 could signal renewed buyer interest, but bearish pressure may persist if liquidity remains thin. Investors should remain cautious ahead of the next 24 hours, as price may remain range-bound without a clear catalyst.