Market Overview: Linea/Turkish Lira (LINEATRY) 24-Hour Summary (2025-09-24)

• Linea/Turkish Lira (LINEATRY) fell to a 24-hour low of 1.2112 before rebounding with increased volume in the early morning.
• Momentum remained mixed with RSI fluctuating between overbought and oversold levels.
• Volatility expanded during a 15-minute drop to 1.2112, followed by a partial recovery.
• Price action showed a bearish engulfing pattern during the overnight decline and a tentative bullish reversal later.
• Turnover spiked during key price levels, indicating heightened interest in key support and resistance areas.

The Linea/Turkish Lira (LINEATRY) pair opened at 1.2548 on 2025-09-23 at 16:00 ET and reached a high of 1.3236 during the 24-hour window. The pair fell to a 24-hour low of 1.2112 before closing at 1.2256 as of 12:00 ET on 2025-09-24. The total trading volume for the 24-hour period was 116,461,085.0, and the total notional turnover amounted to approximately 142,064,741.96 TRY.

Structure & Formations

Price action during the session featured multiple key support and resistance levels. The most significant support was tested and broken at 1.2112 during the early morning hours (01:15 ET) before a partial rebound. This level coincided with a bearish engulfing candle, signaling potential continuation of the downward trend. Resistance was most recently retested at 1.3006 and 1.2969, with failed attempts to break above indicating a bearish bias. A doji formed near 1.255, suggesting indecision at this critical retracement level. A potential bullish reversal was hinted at around 06:45 ET, with a hammer-like pattern forming near 1.2692.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both crossed below the price during the overnight decline. The 50-period MA currently resides around 1.2535, suggesting that any bounce above this level could trigger a short-term reversal. On the daily timeframe, the 200-period MA sits near 1.25, indicating a potential baseline for medium-term support. The 50-period MA at 1.26 and 100-period MA at 1.265 suggest that the bearish trend remains intact.

MACD & RSI

The MACD line crossed below the signal line during the overnight decline, confirming the bearish momentum. While it later crossed back into positive territory, the histogram remained subdued, signaling a lack of conviction in the recovery. The RSI indicator fluctuated between overbought and oversold levels throughout the session, with a dip to 28.4 at 01:15 ET and a spike to 64.6 at 09:30 ET. The lack of a consistent overbought or oversold signal suggests a range-bound to slightly bearish tone with potential for volatility.

Bollinger Bands

Bollinger Bands showed a significant expansion during the overnight dip, with price breaching the lower band at 1.2112. This volatility spike was followed by a reversion toward the middle band, suggesting a possible short-term bounce. The current price of 1.2256 sits just below the middle band, indicating a potential consolidation phase. A further move toward the lower band would be required to confirm a bearish continuation.

Volume & Turnover

Trading volume spiked during key price levels, particularly between 01:15 ET and 03:00 ET when the price dropped from 1.25 to 1.2112. The highest single-candle volume was observed at 09:30 ET, with 8,116,471.0 units traded, coinciding with a high of 1.306. Notional turnover also increased during these periods, with the highest at 11.2 million TRY during a 15-minute candle at 05:30 ET. A divergence between price and volume was observed in the final hours of the session, with volume tapering off despite a modest price rebound.

Fibonacci Retracements

Applying Fibonacci retracements to the major swing from 1.3236 to 1.2112, key levels were identified at 1.274 (38.2%), 1.242 (50%), and 1.2112 (61.8%). The 50% level at 1.242 has been a critical area of consolidation. Price is currently forming near the 23.6% retracement level (1.289), indicating a possible short-term reversal or continuation of the broader downtrend. The 61.8% level at 1.2112 appears to be a key floor for near-term movement.

Backtest Hypothesis

A potential backtest strategy could involve entering long positions on a bullish breakout above the 1.2969 resistance level, with a stop-loss placed below the 1.2801 support. Given the observed doji and hammer patterns, a bullish reversal strategy with a target near 1.306 and a risk below 1.272 may align with the current price structure. Additionally, a short-biased trade could be triggered on a retest of the 1.242 Fibonacci level with a target near 1.215 and a stop above 1.266. These levels could be tested in the coming 24-hour period based on the momentum and volume dynamics observed.