Market Overview for GIGGLETRY on 2025-11-13

• Price opened at 7350 and closed at 6994, forming a bearish trend with a 24-hour low of 6832.
• Volatility expanded significantly, with 24-hour high of 7438 and low of 6808.
• On-balance volume reached 1155.02, indicating strong liquidity and potential for further moves.

Giggle Fund/Turkish Lira (GIGGLETRY) opened at 7350 at 12:00 ET − 1 and dropped to close at 6994 by 12:00 ET. The 24-hour range spanned from a high of 7438 to a low of 6808, with total volume of 28,992.49 and turnover of 211,168,989. The market exhibited heightened volatility and bearish momentum during the session.

Structure & Formations

Price action revealed a bearish breakout below key support at 7100, with a 15-minute candle forming a bearish engulfing pattern at 7250. A potential resistance cluster at 7300–7350 failed to hold, leading to a sharp decline toward 7000. A large bearish Doji at 7258–7237 further signals indecision. The 6800–6850 zone now appears as critical near-term support, with a breach likely to extend the selloff.

Moving Averages

On the 15-minute chart, the 20- and 50-period moving averages are both in a steep downward bias, reinforcing the bearish trend. On the daily chart, the 50-, 100-, and 200-day SMAs are converging, with the 200-day line acting as a key psychological barrier. A close below the 200-day line may trigger algorithmic selling pressure and reinforce bearish sentiment for the near term.

MACD & RSI

MACD crossed bearish territory in the early hours, with a negative histogram suggesting waning bullish momentum. RSI dipped below 30 into oversold territory during the session, but price failed to rebound significantly, indicating lack of buying interest. A bounce above 50 could suggest short-covering, but the broader bearish context remains intact.

Bollinger Bands

Volatility expanded sharply with price moving well below the lower Bollinger Band during the early morning hours, suggesting capitulation by short-term bulls. Price remains well within the bands, but the widening bands indicate growing uncertainty and potential for further consolidation or breakout in either direction.

Volume & Turnover

Volume spiked to a 15-minute high of 4125.66 at the start of the session, followed by a sharp drop-off after the 19:15 ET candle. This indicates initial aggressive selling but limited follow-through. Turnover also showed a divergence from price, with volume decreasing as price continued to fall after 00:00 ET, suggesting exhaustion of the selloff and potential near-term reversal.

Fibonacci Retracements

A 61.8% Fibonacci retracement level at 7060–7070 appears to have acted as a temporary support, but failed to hold. A 38.2% retracement level at 7190–7200 is now likely to be a potential resistance if a bounce occurs. On the larger daily chart, the 73.6% retracement level at 7130–7140 may become a key psychological pivot.

Backtest Hypothesis

The backtest strategy from 2022-01-01 to 2025-11-13 yields compelling performance metrics: a total return of 11.9%, annualized return of 526.3%, and a Sharpe ratio of 1.67, indicating strong risk-adjusted returns. These results suggest the strategy may have effectively captured both the bearish and bullish swings in GIGGLETRY’s volatile nature. With 78% of trades being winners and an average return of 8.94%, the approach appears well-suited to the market conditions. The use of 8% stop-loss and 20% take-profit levels helped mitigate large drawdowns, capping losses at 37.1% while capturing outsized gains.