Market Overview for Plume/Turkish Lira (PLUMETRY) – 24-Hour Technical Summary (2025-11-01)

• Plume/Turkish Lira (PLUMETRY) traded in a 24-hour range of $2.41–$2.61, ending near the upper end with increasing volume in late hours.
• A bearish breakdown to $2.411 briefly occurred, followed by a recovery toward $2.57–$2.61, suggesting short-term volatility and potential bullish retests.
• On-balance volume suggests accumulation in the $2.41–$2.53 range, but high turnover in the last 5 hours signals renewed buyer interest.
• RSI hovered near overbought levels late, hinting at potential pullbacks if short-term momentum stalls.

Daily Price Action and Volatility

Plume/Turkish Lira (PLUMETRY) opened the 24-hour period at $2.507 and reached a high of $2.611 before closing at $2.610 as of 12:00 ET. The pair showed a bearish breakdown to $2.411 in the late afternoon hours, but a strong recovery in the overnight session lifted prices back into positive territory. This 24-hour period featured elevated volatility, with a range of approximately $0.20. The total volume traded over 24 hours stood at 1,276,483 units, with turnover reaching $3,319,437 (calculated as volume × average price). The late-night and early-morning sessions saw the highest trading intensity, especially after the price bounced from the $2.41 support level.

The price action appears to indicate that short-term traders are testing key psychological and round-number levels, with $2.50 and $2.60 attracting attention on both the buy and sell sides. A strong consolidation pattern has emerged since the $2.41 rebound, suggesting that the market may be finding a short-term floor.

Key Support and Resistance Levels

On the 15-minute chart, several key support and resistance levels have become apparent. The first level of support is identified around $2.41–$2.45, with a strong bounce observed from this level. A secondary support zone lies between $2.45 and $2.47, where several 15-minute candles formed bearish engulfing and inside bar patterns.

Resistance levels are currently forming around $2.57–$2.59 and $2.61–$2.63, with the latter showing early signs of being a critical retest area. Notable bullish candlestick patterns such as hammers and inverted hammers have appeared around $2.55–$2.57, indicating potential short-term bottoms.

A bearish engulfing pattern appeared at the top of the $2.57–$2.61 range during the early morning, suggesting that sellers may have taken control at these levels. However, buyers have since pushed back, suggesting a possible continuation of consolidation around $2.60.

Momentum and Volatility Tools

The RSI for the 15-minute chart showed a sharp increase in the last 3 hours of the 24-hour period, reaching overbought territory (above 70). This suggests that momentum has been bullish in the short term, and a pullback or consolidation may be imminent.

Bollinger Bands widened during the volatility spike at $2.41–$2.61, with the price currently hovering near the upper band, indicating heightened tension in the market. This could either signal a continuation of the bullish trend or a potential reversal if the RSI fails to sustain overbought levels.

MACD showed a bullish crossover in the early hours, confirming the recovery from the $2.41 support level. The MACD histogram expanded in the final 4 hours of the 24-hour period, reinforcing the idea that bullish momentum is still intact, although it may be running out of steam.

Backtest Hypothesis

For a potential backtest strategy based on this market’s behavior, a common approach could involve entering positions when RSI dips below 30 (oversold) and exits occur upon a close above the 5-day high. Given the recent volatility in the $2.41–$2.61 range, this strategy could be tested on PLUMETRY using the 14-period RSI and a close-price basis. The exit rule should follow the standard interpretation—closing the position the first day the price exceeds the highest high of the previous 5 trading days. This approach would allow for capturing short-term rebounds off key support levels, such as those seen around $2.41 and $2.45.