Market Overview for Plume/Turkish Lira (PLUMETRY) – 24-Hour Analysis

• PLUMETRY rose sharply to 5.074 TRY before retracing to 4.646 TRY, showing strong intraday volatility.
• Momentum shifted from bullish to bearish as RSI crossed oversold territory, signaling potential near-term exhaustion.
• High volume confirmed the intraday high, but declining turnover after 23:30 ET suggests reduced conviction.
• A long lower shadow and a key support at 4.603 TRY indicate buyers may remain active in the near term.
• Bollinger Bands expanded early in the session, reflecting increased uncertainty in price direction.

The Plume/Turkish Lira (PLUMETRY) pair opened at 4.707 TRY on 2025-09-10 at 12:00 ET and surged to a high of 5.074 TRY within 11 hours before closing at 4.646 TRY on 2025-09-11 at 12:00 ET. The 24-hour trading session saw a total volume of 11,802,213.0 and a turnover of 54,958,243.2 TRY. Price action reflected a volatile and emotionally driven session with notable pullbacks and key support levels.

Structure & Formations

PLUMETRY formed a sharp bullish wave early in the session, breaking above 4.90 TRY and testing 5.074 TRY. A long lower shadow and a strong pullback into 4.603 TRY suggested bearish pressure. A bearish engulfing pattern emerged near the 4.90–4.93 TRY range, signaling a reversal. A doji formed around 4.75 TRY, suggesting indecision. Key support levels include 4.603 TRY (tested multiple times) and 4.646 TRY (closing price). Resistance is expected at 4.75 TRY and 4.86 TRY.

Moving Averages

On the 15-minute chart, PLUMETRY closed below the 20- and 50-period moving averages, indicating short-term bearish momentum. The 50-period line crossed above the 100-period on the daily chart, but the 200-period remains above the 100-period, suggesting a longer-term bullish bias. PLUMETRY appears to be in a consolidation phase, with price hovering below the 50-period on the 15-minute chart, pointing to possible near-term weakness.

MACD & RSI

The MACD turned bearish in the late hours of the session, with the line dipping below the signal line and forming a bearish crossover. The RSI hit an oversold level near 30, which historically has been a buying trigger. However, the divergence between the price and the RSI suggests some caution. Momentum is weak but could reverse if buyers re-enter the market.

Bollinger Bands

Bollinger Bands expanded sharply from 4.90 TRY to 5.074 TRY, reflecting heightened volatility. Price then retracted to the lower band at 4.603 TRY, which acted as a temporary support level. The narrowing of the bands in the latter half of the session suggests a potential consolidation phase. If PLUMETRY breaks above the upper band again, it could signal renewed bullish conviction.

Volume & Turnover

Volume surged during the breakout to 5.074 TRY, with over 2.3 million tokens traded in a single 15-minute candle. Turnover spiked accordingly but declined significantly after 23:30 ET. This suggests that the initial bullish move was supported by strong buying interest, but follow-through was weak. A divergence between volume and price in the late hours points to potential exhaustion.

Fibonacci Retracements

Key Fibonacci retracement levels from the 4.603 TRY to 5.074 TRY move include 4.78 (38.2%), 4.83 (50%), and 4.88 (61.8%). PLUMETRY tested the 50% and 61.8% levels before consolidating back down to 4.646 TRY. These levels could serve as pivot points for near-term price direction. A break above 4.83 TRY would indicate a resumption of the bullish trend, while a close below 4.78 TRY may trigger further bearish momentum.

Backtest Hypothesis

The backtesting strategy under consideration involves entering long positions when PLUMETRY closes above the 50-period moving average on the 15-minute chart, with a stop-loss placed below the most recent swing low and a take-profit at the next Fibonacci retracement level (e.g., 4.83 TRY). This setup would align with the recent 5.074 TRY high and the 4.603 TRY support tested in the 24-hour window. The RSI reaching oversold territory supports the strategy’s potential for a short-term bounce, provided that volume picks up again. The strategy appears to have a higher probability of success in a consolidating market like this, where retracement levels and moving averages offer clear directional cues.