Market Overview for HEMI/Turkish Lira (HEMITRY)

• HEMI/Turkish Lira surged 39.1% in 24 hours, closing at 4.12 TRY.
• Strong bullish momentum confirmed by RSI above 60 and rising volume.
• Price broke through key resistance at 4.0 and tested 4.22 as new swing highs.
• Volatility expanded as price extended beyond upper Bollinger Bands.
• 15-minute chart shows continuation pattern with no bearish reversal signs.

HEMI/Turkish Lira (HEMITRY) opened at 3.67 TRY on October 7, 12:00 ET, and surged to 4.25 TRY during the session before closing at 4.12 TRY on October 8, 12:00 ET. Total volume over 24 hours was 62,706,264.5 TRY, with a notional turnover of 141,149,645.6 TRY. The 24-hour price range spanned from 3.56 to 4.25 TRY, with a clear bullish bias in the final hours.

The structure of the 15-minute candlesticks reveals a powerful bullish continuation pattern, with no bearish reversal signals such as dojis or evening stars. Key support levels appear to be in the 3.65–3.70 range, while resistance was tested and broken at 4.0, 4.1, and 4.22. A strong engulfing pattern emerged around 07:30–07:45 ET, confirming the breakout from the 3.65–4.0 consolidation. The price appears to be in a high-momentum phase, with the likelihood of further testing of the 4.25 level.

The 20-period and 50-period moving averages on the 15-minute chart confirm the upward trend, with the 20 MA above the 50 MA. The daily MA structure, though not fully visible within a 24-hour window, suggests that the 50-day MA is likely below the current price, adding bullish confirmation. MACD remains positive with a rising histogram, while RSI reached 68 by the close, indicating strong but not overbought momentum. Bollinger Bands show a recent expansion in volatility, with the price frequently trading near or above the upper band, suggesting elevated risk and potential for a correction or continuation.

Fibonacci retracement levels on the 15-minute swing from 3.56 to 4.25 show that price tested the 61.8% level at around 4.09 and may face resistance near the 76.4% level (≈4.24). These levels may act as psychological barriers in the near term. Volume and notional turnover have consistently increased in the final 12 hours of the session, supporting the move higher and reducing the probability of a sharp reversal. However, if price closes below the 4.0 level tomorrow, it could signal a bearish divergence and re-test of key support zones.

Looking ahead, HEMI/TRY is likely to maintain its upward trajectory in the short term, with the 4.24–4.25 level as the next target. However, increased volatility and a potential pullback to 4.0 could introduce short-term uncertainty. Investors should remain cautious of sudden liquidity shifts or macroeconomic triggers that could reverse the trend. Risk management remains key, especially given the current overbought RSI levels and extended move beyond the upper Bollinger Band.