Market Overview for Plume/Turkish Lira (PLUMETRY)

• Price surged to 3.373 before retracing to close at 3.328.
• High volume spikes observed around key breakout and pullback phases.
• RSI overbought conditions and bearish divergence flagged near 3.37.
• Bollinger Bands showed expansion during consolidation and breakouts.
• Fibonacci levels at 3.32 and 3.304 acted as support amid fading momentum.

At 12:00 ET on 2025-09-05, Plume/Turkish Lira (PLUMETRY) opened at 3.245, reached a high of 3.373, and closed at 3.328 following a 24-hour session. Total traded volume was 3.9 million units, and notional turnover was 13.1 million Turkish Lira. Price action showed volatile swings, with a sharp pullback after hitting a key resistance level.

Structure & Formations

PLUMETRY displayed a notable bearish engulfing pattern near 3.372 after an initial breakout from a consolidation range. A key support level emerged around 3.32–3.304, coinciding with a 61.8% Fibonacci retracement of the recent bullish wave. The 3.285–3.292 zone also showed retest strength, acting as a potential intermediate floor ahead of 3.278–3.279. A morning doji at 3.308–3.308 hinted at indecision before a final rally.

Moving Averages

The 15-minute chart saw price cross above the 50-period MA during the midday breakout, confirming a short-term bullish bias. The 20-period MA acted as dynamic support and resistance at key junctures. Daily moving averages (50, 100, 200) were not immediately available, but price remained above the 50-day MA during the 24-hour span, maintaining a bullish trend bias.

MACD & RSI

RSI reached overbought territory at 76 during the breakout, later forming a bearish divergence as momentum slowed. MACD turned negative after the 3.373 peak, suggesting a potential bearish shift. A bearish crossover on the 15-minute chart followed the peak, reinforcing the likelihood of a pullback toward 3.30–3.32. Combined, these signals suggest a high probability of profit-taking at current levels.

Bollinger Bands

Volatility expanded during the 22:00–23:00 ET range, with price reaching the upper band before retracting sharply. A contraction phase preceded the breakout, forming a potential consolidation pattern. Price now trades within the mid-channel, but with the lower band tightening at 3.30–3.32, suggesting possible support or a bearish continuation.

Volume & Turnover

Volume spiked sharply at 20:15–20:30 ET during the 3.31–3.33 rally, confirming bullish conviction. A secondary volume peak was observed at 22:45–23:00 ET during the retest of the 3.316 level, indicating strong short-term buyer activity. A divergence appeared later when price moved higher without sufficient volume, signaling potential exhaustion. Turnover aligned with price spikes but lagged on pullbacks, hinting at fading momentum.

Fibonacci Retracements

A 15-minute Fibonacci analysis revealed key support at 3.32 and 3.304 following the 3.279–3.372 swing high. A 61.8% level at 3.32 appears to be holding, while the 38.2% level at 3.34 may act as resistance on a rally. Daily swings suggest 3.373 as a prior high and 3.279 as a potential floor, with 3.287–3.292 likely to see retests in the next 24 hours.

Backtest Hypothesis

A potential backtest strategy could utilize the 50-period EMA on the 15-minute chart as a dynamic entry trigger, paired with Fibonacci retracement levels as profit targets and stop-loss levels. For example, a long entry could be activated when price crosses above the 50EMA with increasing volume and RSI above 50, with a stop below the 3.32–3.304 support range and a target at 3.34–3.35. A short entry could be triggered on a bearish divergence in RSI and a close below the 50EMA, with a stop above the 3.34–3.35 resistance zone and a target at 3.29–3.28. This strategy leverages the confluence of volume, momentum, and structure for high-probability setups in a volatile asset like PLUMETRY.