Market Overview for Dolomite/Turkish Lira (DOLOTRY) - 24-Hour Summary

• Price surged 7.102 before pulling back to 7.049 by 12:00 ET.
• Strong 15-minute volume spikes confirmed the 7.223 high and 7.004 low.
• RSI overbought conditions flagged at 7.31, hinting at short-term pullback risk.
• Bollinger Bands showed a volatility expansion post-19:00 ET.
• Key support at 7.04–7.06 and resistance at 7.20–7.22 identified.

Dolomite/Turkish Lira (DOLOTRY) opened at 6.69 at 12:00 ET - 1 and surged to an intraday high of 7.31 before closing at 7.049 at 12:00 ET. The 24-hour low was 6.676, with total traded volume of 23,600,000.0 and turnover of 160,150,000.0 TRY.

Structure & Formations

DOLOTRY exhibited a strong bullish impulse from 19:00 to 20:00 ET, reaching a high of 7.31 on a large-volume candle, followed by a significant bearish correction. Key resistance is forming around 7.20–7.22, while support levels are consolidating at 7.04–7.06 and 6.95–6.96. A doji at 03:00 ET (6.923) suggests indecision near these support levels. A bullish engulfing pattern is forming after the 04:30–05:00 ET window, hinting at a potential rebound.

Moving Averages

On the 15-minute chart, the 20SMA and 50SMA are converging from a bullish crossover near 7.06–7.08. The 50SMA is acting as dynamic support, while the 100/200SMA on the daily chart remain below current price action, indicating a short-term breakout attempt from a longer-term range.

MACD & RSI

The RSI reached overbought territory at 70+ during the 7.31 high and has since corrected into mid-50s, suggesting a potential short-term equilibrium. The MACD line crossed above the signal line just before the 7.31 high, confirming the bullish impulse, but a bearish crossover at 02:45 ET suggests a short-term reversal is in play.

Bollinger Bands

Volatility increased sharply after 19:00 ET, with the upper band expanding to 7.40 and the lower band contracting to 7.10. Price is currently trading near the middle band at 7.05, with the lower band acting as a potential support level for the next 24 hours.

Volume & Turnover

Volume spiked dramatically during the 19:00–20:00 ET window, confirming the 7.31 high. A divergence appears at 04:45 ET, with volume falling despite a price rebound, suggesting weakening momentum. Notional turnover was highest at the 7.31 high and during the 04:30–05:00 ET rebound, aligning with major candlestick formations.

Fibonacci Retracements

The 61.8% Fibonacci level from the 6.676 low to the 7.31 high is at 7.07, matching recent price consolidation. The 50% and 38.2% retracements at 7.05 and 6.99 are also showing resistance and support behavior, respectively, suggesting DOLOTRY may test these levels in the near term.

Backtest Hypothesis

A backtesting strategy could focus on breakout entries from the 7.04–7.06 support zone on a close above the 7.20 resistance, with a 1:2 risk-to-reward ratio targeting 7.40. A stop loss below 7.00 would protect against a resumption of bearish momentum. This approach leverages confirmed resistance levels, overbought RSI corrections, and divergences in volume for higher-probability entries.