Market Overview for Dolomite/Turkish Lira (DOLOTRY) – November 8, 2025

• Price surged to 2.98 before consolidating to 2.78 in late ET hours.
• High volume confirmed a sharp move up, but momentum weakened by 08:00 ET.
• RSI and MACD show potential bearish divergence after overbought levels.
• Bollinger Bands widened during peak volatility, then contracted.
• A key support level appears near 2.74–2.75 based on bounce and candle structure.

Dolomite/Turkish Lira (DOLOTRY) opened at 2.724 on November 7, 2025, and reached a high of 2.98 before closing at 2.78 at 12:00 ET. The 24-hour volume totaled 10,326,337.3, with a notional turnover of 28,278,672.8 Turkish Lira. The pair displayed strong early upward momentum, followed by a consolidation phase and a sharp decline in the early morning.

Structure & Formations

Price action showed a notable bullish breakout pattern in the evening hours, with a sharp move from 2.85 to 2.98. This was followed by a bearish engulfing candle and a long lower shadow near 2.74–2.75, suggesting a critical support level. The formation of a bearish harami and a doji in the early morning hours signals indecision and possible reversal.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages converged closely during the consolidation phase. The 50-period MA acted as a key resistance between 2.85 and 2.88. On the daily chart, price is below the 200-period MA, signaling a bearish trend, while the 50-period MA crossed below the 100-period MA early in the session, indicating bearish momentum.

MACD & RSI

The MACD turned negative during the consolidation and confirmed bearish momentum in the late hours. The histogram showed divergence from the price low, signaling potential exhaustion in the downward move. RSI peaked at 75 during the bullish phase and dipped into oversold territory near 25 in the early morning, hinting at a possible bounce.

Bollinger Bands

Volatility spiked as price moved between the upper and lower bands in the evening, reaching a high of 2.98, and then contracted sharply during the consolidation phase. Price currently sits near the middle band but has tested the lower band twice, suggesting increased bearish pressure and potential for another bounce at the 2.74–2.75 level.

Volume & Turnover

Volume surged during the early and late hours, especially between 19:30 and 20:15 ET, confirming the bullish phase. In contrast, turnover dropped during the consolidation phase but rose again in the early morning as sellers entered. Divergence between volume and price is evident in the last 4 hours, where volume increased but price fell, signaling possible bearish exhaustion.

Fibonacci Retracements

Applying Fibonacci to the recent 15-minute swing from 2.74 to 2.98 shows key levels at 38.2% (2.855) and 61.8% (2.803). Price bounced off the 61.8% level during the early morning and could test it again. On the daily chart, a larger bearish move from 3.049 to 2.74 suggests a possible retracement target at 2.83, which may act as near-term resistance.

Backtest Hypothesis

Given the bearish engulfing patterns observed in the data—most notably the large candle closing near the session low—these formations could serve as potential short signals in a backtest. Testing these signals historically, using a Bearish Engulfing-based strategy, may reveal whether such patterns are reliable indicators of downward momentum. The upcoming test, if applied to USDTRY, would provide insights into the effectiveness of this candlestick pattern in predicting sell-offs in Turkish Lira-paired assets.