Market Overview for Linea/Turkish Lira (LINEATRY) – 2025-10-10

• Price surged to 1.0677 before retracting sharply, closing at 0.9799 amid heavy bearish momentum.
• Volume spiked over 3M during the selloff, signaling potential capitulation or profit-taking.
• RSI entered oversold territory, while Bollinger Bands widened, indicating heightened volatility.
• A key 1.0345 support was tested and broken, suggesting further downside risk to 0.9653.
• MACD turned negative, confirming bearish divergence as price and volume moved in opposite directions.

Linea/Turkish Lira (LINEATRY) opened at 1.0387 at 12:00 ET−1 and surged to a high of 1.0677 before plummeting to a low of 0.9653, closing at 0.9799 by 12:00 ET. Total volume for the 24-hour period reached 27,449,073.0, with a notional turnover of approximately 28.6 million Turkish Lira.

Structurally, the 24-hour period was marked by a sharp bearish reversal from a 15-minute peak, forming a large bearish engulfing pattern at the session’s peak. Key resistance levels of 1.058, 1.062, and 1.067 were sequentially breached under heavy selling pressure, while support levels at 1.0459, 1.0345, and 0.9653 were tested, with the last being broken decisively. A long-legged doji near the session’s low at 0.9761–0.9799 indicated indecision and possible exhaustion.

The 15-minute chart showed the price falling well below the 20- and 50-period moving averages, while the daily chart confirmed a break of the 50-period MA and a test of the 100-period MA. The 200-period MA remains a distant resistance above 1.053. MACD turned negative sharply, confirming bearish momentum with a bearish crossover. RSI dropped below 30, entering oversold territory, suggesting a potential short-term bounce but not a reversal.

Bollinger Bands expanded dramatically during the selloff, with price closing near the lower band at 0.9799. Volatility appears to have reached a peak, which may precede consolidation or a rebound. Volume and turnover diverged during the final 3–4 hours, with price falling sharply while volume declined, hinting at potential short-term capitulation or a shift in sentiment.

Fibonacci retracement levels from the recent high of 1.0677 to the low of 0.9653 show critical levels at 1.053 (38.2%) and 1.042 (61.8%), both of which could act as dynamic support/resistance. A break below 0.9653 could expose 0.9486 as the next Fibonacci target.

Backtest Hypothesis
A potential short-term reversal strategy could be triggered on the 15-minute chart if price stabilizes above 0.9799, with RSI showing a bullish divergence and volume declining. A stop-loss below 0.9653 and a take-profit at 1.0019 aligns with the recent Fibonacci and Bollinger Band parameters. A test of the 1.0345–1.0459 support cluster may confirm if buyers are stepping in or if bearish pressure remains dominant. The strategy would benefit from using a trailing stop once a clear upward trend is confirmed.