Market Overview for HEMI/Turkish Lira (HEMITRY) on 2025-11-11

Summary
• Price opened at 1.5, reached 1.53, and closed at 1.44 within 24 hours.
• Key support appears near 1.43–1.44, with resistance at 1.51–1.52.
• Volume spiked during late ET hours but declined in the morning.
• RSI suggested overbought conditions earlier, then turned neutral.
• Bollinger Bands show moderate volatility, with a 38.2% Fibonacci level at 1.47.

HEMI/Turkish Lira (HEMITRY) opened at 1.5 at 11:59 ET on 2025-11-10 and reached a high of 1.53 by 3:15 AM ET. It closed at 1.44 at 12:00 ET on 2025-11-11. The total volume traded over 24 hours was approximately 10,796,193.1, and the total turnover amounted to about 15,138,868 Turkish Lira. The market showed a clear bearish bias after an initial consolidation phase, ending near the lower Bollinger Band.

Structure & Formations

The price action over 24 hours formed several bearish and bullish candlestick patterns. A notable bearish engulfing pattern appeared around 11:15 AM ET, confirming a downward reversal. Later, around 12:45 AM ET, a strong bullish engulfing pattern temporarily reversed the trend but was swiftly overcome. A key support level formed at 1.44–1.43, and a resistance cluster between 1.49 and 1.51 appeared to act as a ceiling for multiple upward attempts. A potential bearish reversal may be in the works as long as the support at 1.44 holds.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are converging downward, with the price frequently crossing below both. This suggests bearish momentum in the short term. On a longer time frame, the 50, 100, and 200-period moving averages indicate a broader bearish bias, with the 1.45 level acting as a key psychological and technical level to monitor.

MACD & RSI

The MACD indicator showed a bearish crossover in the early morning hours, with the histogram shrinking as the trend consolidated. RSI reached overbought levels (above 65) in the late ET evening before plunging into oversold territory by the morning session, indicating an aggressive correction. These divergences suggest that momentum could stabilize in the coming hours, either supporting or breaking key levels.

Bollinger Bands

Bollinger Bands showed a moderate expansion during the early morning session, followed by a contraction as volatility decreased. The price spent a significant portion of the 24-hour period near the lower band, suggesting a weak consolidation. A break above the 1.51 resistance level could trigger a reversion toward the upper band, while a break below the 1.44 support may lead to further testing of the 1.41 Fibonacci level.

Volume & Turnover

Volume spiked multiple times during the night and early morning, especially around 12:15 AM ET and 1:00 AM ET, when the price reversed briefly. However, these spikes lacked follow-through in the subsequent candles. The volume pattern appears to support a bearish continuation, as most significant down moves were accompanied by stronger volume compared to up moves. Notional turnover mirrored the volume pattern, confirming the strength of bearish moves.

Fibonacci Retracements

Applying Fibonacci retracements to the most recent 15-minute swing (1.49–1.53), the 38.2% level sits at 1.51, and the 61.8% level at 1.48. The price tested these levels multiple times, with the 1.48–1.49 range acting as a key area for potential reversals. On the daily chart, the 38.2% retracement of the broader move (1.5–1.53) is at 1.49, which has already acted as a psychological level.

Backtest Hypothesis

The proposed backtest strategy aims to evaluate the effectiveness of a Hammer candlestick pattern as a buy signal. Once confirmed, it will pull the Hammer-pattern indicator for 2022-01-01 to the present and run an event backtest to assess 5-day performance. This aligns with the current technical landscape, where candlestick patterns have played a significant role in identifying potential turning points. The strategy hinges on accurate data and confirmation of the correct ticker symbol to ensure reliable results.