Market Overview: Plume/Turkish Lira (PLUMETRY) – 2025-10-29

• Price opened at $3.036 and closed at $2.855, down 6.0% over 24 hours
• Volatility spiked mid-day with a sharp drop from $3.04 to $2.759
• Volume surged to 1.61 million at 20:30 ET, confirming bearish momentum
• Bollinger Bands show price hovering near lower band, indicating oversold conditions
• RSI dropped below 30, signaling short-term oversold territory

Opening and 24-Hour Performance

Plume/Turkish Lira (PLUMETRY) opened at $3.036 on 2025-10-28 at 12:00 ET and closed at $2.855 on 2025-10-29 at the same time. The 24-hour high was $3.046, and the low was $2.759. Total trading volume reached 3,090,659.0 units, with a notional turnover of approximately $8,563,693.99. The price action showed a pronounced bearish bias with a sharp decline in the late afternoon.

Structure and Candlestick Patterns

A key support level appears to be forming around $2.759 to $2.802, with price rebounding from this area in the early hours of October 29. Notable bearish patterns include a bearish engulfing at 19:30 ET and a dark cloud cover at 20:00 ET. A doji formed at 20:30 ET as price briefly stalled at $2.759, hinting at a potential short-term pause in the decline.

Moving Averages

On the 15-minute chart, the price closed below both the 20-period and 50-period moving averages, suggesting bearish momentum remains intact. On the daily chart, the 50-day moving average appears to have crossed below the 200-day average, a potential bearish signal. Traders may watch if price can retest the 50-day line for a potential bounce.

Volatility and Momentum Indicators

Bollinger Bands show the price is currently hovering near the lower band, indicating a potential overextension in the downward move. The RSI has dipped below 30 and may signal short-term oversold conditions. However, this is not a strong reversal signal in the context of a larger bearish trend. MACD data is not available for PLUMETRY, which limits the ability to fully assess momentum shifts.

Fibonacci Retracements

Key retracement levels from the recent 15-minute swing (from $3.04 to $2.759) suggest a possible pause at 61.8% (~$2.84) and 38.2% (~$2.89). These levels could offer temporary resistance during any near-term rebound. On the daily chart, a 61.8% retracement of the recent larger move is near $2.95, a level worth watching for potential reversal or continuation.

Backtest Hypothesis

The absence of MACD data for PLUMETRY highlights a potential limitation in the technical analysis process. If the MACD Death Cross (when the MACD line crosses below the signal line) had been observed, it could have served as a sell signal in a backtest. The inability to confirm this pattern underscores the importance of accurate ticker symbols and data integrity in technical analysis. If PLUMETRY were under a different ticker code (e.g., “PLMY”), this analysis could be extended with a more robust momentum-based strategy.