Market Overview for Plume/Turkish Lira (PLUMETRY)

Summary
• Price action shows a late-night rally with a high of 2.146 and a morning pullback to 2.029.
• Strong volume spikes accompany key price swings, especially during the bullish breakout.
• RSI and MACD suggest moderate overbought conditions during the rally, with divergence risks.
• Bollinger Bands indicate expanding volatility during the late-night move and contraction during consolidation.

Plume/Turkish Lira (PLUMETRY) opened at 2.087 on 2025-11-08 at 12:00 ET, reached a high of 2.146, and closed at 2.044 as of 2025-11-09 at 12:00 ET. The total volume over the 24-hour period was 1,436,087.0 and the total turnover amounted to 2,989,744.0 Turkish Lira.

Structure & Formations

The price of PLUMETRY demonstrated a strong rally in the late night hours with a high of 2.146, followed by a consolidation phase and a pullback to 2.029. A key bullish engulfing pattern was visible between 22:45 and 23:30 ET on 2025-11-08, indicating strong buying pressure. A potential shooting star pattern emerged at 00:15 ET, which may signal a short-term reversal. The price found support at 2.029 in the early morning hours, suggesting a psychological level of interest.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were trending upward during the rally, reinforcing the bullish bias. The 50-period MA remained above the 20-period MA, supporting the continuation of the uptrend. On the daily chart, the 50-period MA crossed above the 100- and 200-period MAs, indicating a longer-term bullish crossover.

MACD & RSI

The MACD crossed above the zero line during the rally, confirming bullish momentum. The RSI surged into overbought territory, peaking above 70 during the late-night rally, suggesting a risk of a near-term pullback. A bearish divergence appeared between the RSI and price action during the morning consolidation, indicating caution.

Bollinger Bands

Volatility expanded significantly during the late-night move as price moved from 2.113 to 2.146, breaching the upper band. This expansion suggests strong buying pressure. As the price consolidated in the morning, volatility contracted and the price moved closer to the 20-period moving average, indicating a potential pause in the trend.

Volume & Turnover

Volume was concentrated during the late-night rally, especially between 22:45 and 00:15 ET, with a total of 364,116.0 units traded. Turnover spiked alongside the volume increase, confirming the strength of the move. A divergence in the morning hours, with volume declining despite a small price increase, suggests weakening bullish conviction.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from 2.079 to 2.146, the price pulled back to the 61.8% level at approximately 2.093 during the morning hours. The daily swing from 2.029 to 2.146 saw a retest of the 38.2% level at 2.109, followed by a decline to 2.044, suggesting bearish pressure below the 61.8% level at 2.063.

Backtest Hypothesis

The backtest strategy of buying PLUMETRY on a bullish engulfing pattern and holding until a shooting star pattern forms aligns well with the recent price action. The late-night bullish engulfing pattern at 22:45 ET and the potential shooting star at 00:15 ET provided a clear entry and exit signal. The strategy's strength lies in capturing strong momentum while managing risk with a reversal signal. Given the recent volatility and volume confirmation, this approach may provide consistent returns in the short to medium term.