Market Overview for Plume/Turkish Lira (PLUMETRY) on 2025-11-10

Summary
• PLUMETRY opened at 2.168, rose to 2.235 before closing at 2.206 after 24 hours.
• Key support at 2.14–2.16 and resistance at 2.19–2.21 were tested and retested.
• High volatility seen in late night, with volume spiking above 170,000 at 19:00 ET.
• MACD and RSI suggest overbought conditions in the final hours of the day.
• Bollinger Bands show recent contraction after a period of expansion.

Plume/Turkish Lira (PLUMETRY) opened the 24-hour window at 2.168 on 2025-11-09 at 12:00 ET and traded as high as 2.235 before closing at 2.206 at 12:00 ET on 2025-11-10. Total volume amounted to 1,795,888.0 over the period, with notional turnover reaching ~$3,957,706.54 (assuming average price of 2.20).

Structure & Formations

Price activity displayed distinct consolidation phases between 2.15–2.18 and late-night breakouts above 2.20. A bullish engulfing pattern emerged at 22:30 ET, followed by a bearish dark cloud cover at 04:45 ET. A long lower shadow in the 03:30–03:45 candle suggests strong buying pressure at the 2.225 level.

Moving Averages

On the 15-minute chart, the 20-period moving average crossed above the 50-period line between 00:45 and 01:00, signaling a short-term bullish shift. On the daily chart, the 50/200-period lines were not available due to lack of historical data, but the 15-minute 20SMA held above the 50SMA throughout the morning session.

MACD & RSI

The MACD crossed into positive territory in the early hours, confirming bullish momentum. RSI reached 65–70 levels by 03:30, indicating overbought conditions. By 06:45, RSI had corrected to neutral levels, but MACD remained above zero. This divergence suggests caution ahead.

Bollinger Bands

Price remained within the 2σ Bollinger Bands for the majority of the day, with a narrow contraction noted between 01:00 and 02:15. A breakout above the upper band occurred at 03:30, followed by a rapid reversion back into the channel by 04:45, indicating high volatility and mixed sentiment.

Volume & Turnover

Volume surged at key turning points, especially around 19:00 and 03:30. Turnover at 03:30 reached ~$45,518.58 (2.219 * 20,721), signaling strong conviction. A divergence between rising price and declining volume in the final hours of the 24-hour period suggests weakening momentum.

Fibonacci Retracements

A 61.8% Fibonacci retracement level of the 19:00–03:30 rally (2.142–2.219) came in at 2.192, which coincided with a bearish reversal at 04:45. Price is now testing the 38.2% retracement level at 2.203, a potential pivot point.

Backtest Hypothesis

To validate the recent momentum seen in PLUMETRY, a backtest using a MACD-based trading strategy could be applied. A golden-cross (MACD line crossing above the signal line) at 00:45 ET preceded the morning rally, offering a potential entry signal. A red-cross (MACD line falling below the signal line) later in the morning or in the next 24 hours could signal an exit point. However, due to data limitations, a complete MACD backtest requires confirmation or local computation from raw price data as described.