Market Overview for Dolomite/Turkish Lira (DOLOTRY)

• Price surged over 20% in 24 hours, closing at 3.756 TRY after a sharp rebound from 3.36 TRY.
• Momentum remained positive with RSI above 60 and bullish MACD crossovers.
• Volatility spiked during the session, with intraday range of 0.454 TRY and high volume concentration in late morning hours.
• Key support held at 3.60–3.65 TRY, while 3.75–3.80 TRY is a near-term resistance cluster.

Dolomite/Turkish Lira (DOLOTRY) opened at 3.425 TRY on 2025-10-12 at 12:00 ET and closed at 3.756 TRY on 2025-10-13 at 12:00 ET. The 24-hour high and low were 3.838 TRY and 3.36 TRY, respectively. Total volume traded was 11,548,454.4, while notional turnover (volume × price) reached approximately 42.6 million TRY.

The price action reflected strong accumulation pressure from late evening into the next morning, with a decisive break above 3.70 TRY on rising volume. A bearish correction attempt between 03:00 and 06:00 ET was quickly reversed by buyers, indicating solid conviction in the upward move.

Structure & Formations

On the 15-minute chart, the pair displayed several bullish engulfing patterns, especially between 06:45 and 07:30 ET, as price surged from 3.697 TRY to 3.798 TRY. A strong hammer pattern formed at 04:30 ET after an attempted pullback, which later acted as a key support. Notable resistance levels formed near 3.76 TRY and 3.80 TRY, while support held at 3.64 TRY and 3.71 TRY.

Moving Averages

Short-term momentum aligned with the 20-period and 50-period moving averages on the 15-minute chart, with price consistently above both. This suggests a bullish bias for intraday traders. On the daily chart, the 50-period MA is rising, but the 200-period MA lags slightly behind, indicating a potential retesting of medium-term trendlines ahead.

MACD & RSI

The MACD crossed above zero in the early hours of the morning, confirming the bullish reversal. Positive divergence formed between price and RSI, indicating exhaustion in the rally phase. RSI reached 67 by midday, signaling caution for overbought conditions, though it did not exceed 70, which may suggest that the move is not yet fully extended.

Bollinger Bands

Volatility increased significantly during the sharp rebound phase, with price moving above the upper band between 06:45 and 07:30 ET. Price then consolidated within the bands by midday, with a narrowing of the bands in the evening suggesting a possible continuation of the trend.

Volume & Turnover

Turnover surged during the key break above 3.70 TRY, with over 400,000 TRY traded in the 15-minute candle at 06:45 ET. Notably, volume confirmed the price action, with no signs of divergence. The largest volume spike (447,615.7 units) came at 08:45 ET, during a sharp move to 3.866 TRY. This indicates strong participation from institutional or large-capacity traders.

Fibonacci Retracements

Applying Fibonacci levels to the 24-hour swing from 3.36 TRY to 3.838 TRY, the 38.2% retracement at 3.62 TRY acted as a minor support, while the 61.8% level at 3.75 TRY is now a key resistance. Price is currently at that level, suggesting a potential pullback or consolidation before a test of 3.80 TRY.

Backtest Hypothesis

Given the recent pattern of bullish engulfing and strong volume confirmation, a backtest using these patterns as a buy signal could be evaluated. For example, a strategy that detects every Bullish Engulfing pattern on daily candles from 2022-01-01 to 2025-10-13 would help assess whether this pattern reliably predicts short-to-medium-term price strength in DOLOTRY. A similar approach could be extended to 4-hour candles for more frequent trade opportunities. If this pattern is validated with Bitcoin (BTC-USD) as the test subject, it could be applied with confidence to DOLOTRY, particularly when supported by strong volume and momentum indicators like RSI and MACD.