Market Overview for Plume/Turkish Lira (PLUMETRY) - November 11, 2025

Summary
• PLUMETRY opened at 2.181 and closed at 2.154, with a 24-hour high of 2.345 and low of 2.084.
• Rising volume in the early session failed to sustain bullish momentum, with sharp declines later.
• RSI and MACD both signaled overbought conditions in the afternoon before bearish divergence emerged.

Plume/Turkish Lira (PLUMETRY) opened at 2.181 on November 10 at 12:00 ET and closed at 2.154 on November 11 at the same time. The pair reached a high of 2.345 and a low of 2.084 over the past 24 hours. Total traded volume was approximately 5,002,835 and total turnover amounted to 11,583,669, based on the 15-minute OHLCV dataset. The asset displayed a strong early rally, followed by a steep reversal, highlighting a volatile 24-hour session.

Structure & Formations

Price broke above the 2.26–2.314 range in the early afternoon but quickly reversed, forming bearish engulfing patterns and a doji at 2.322. A key support level emerged around 2.14–2.15, where the price found temporary stability. A bearish breakdown from the 2.319–2.322 resistance appears confirmed, suggesting further downside could be in play unless bulls reclaim this zone.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed bearishly (death cross) in the early evening session, reinforcing the bearish momentum. On the daily time frame, the 50/100/200 SMA lines are likely aligned lower, suggesting that the overall trend remains bearish and likely to persist unless the price closes above 2.26 in the next 24 hours.

MACD & RSI

MACD showed a strong bullish divergence in the afternoon, with price peaking at 2.345 while the histogram flattened. RSI spiked to overbought territory (>70) in the early evening but fell rapidly below 50, signaling exhaustion and bearish momentum. A closing below 2.145 could push RSI into oversold territory, but it may not indicate a reversal unless bullish volume follows.

Bollinger Bands

Volatility expanded as the price moved from the upper band to the lower band, with the 2.14–2.15 level coinciding with the lower band. The squeeze was absent during this period, and the wide bands suggest continued uncertainty. The current price sits near the lower band, indicating a possible bounce or continuation of the downward trend depending on volume dynamics.

Volume & Turnover

Volume spiked during the afternoon rally, especially in the 201500–204500 timeframe, but then diverged as the price declined. The largest turnover occurred at 2.319 and 2.290, indicating high liquidity and likely key resistance levels. A sharp drop in turnover in the evening suggests weakening conviction in the bearish move.

Fibonacci Retracements

On the 15-minute chart, the 61.8% retracement level of the 2.26–2.345 swing is at 2.293, where price stalled before falling. The 38.2% level at 2.314 also acted as a resistance. For the daily move from 2.18 to 2.345, the 61.8% level is near 2.227, where price could face support before testing the 2.14–2.15 area again.

Backtest Hypothesis

The backtest strategy involves identifying RSI overbought (RSI > 70) and oversold (RSI < 30) conditions and testing trade signals from these extremes. In the case of PLUMETRY, RSI reached overbought territory in the afternoon but reversed sharply, suggesting a sell signal may have been viable. A buy signal could appear if RSI approaches oversold territory (<30), but caution is warranted as divergence in volume and price action may reduce signal reliability. Testing this strategy over a broader time horizon would provide clearer insights into its efficacy.