Market Overview for Plume/Turkish Lira (PLUMETRY): October 10, 2025, 24-Hour Summary

• PLUMETRY surged to a high of 4.307 before correcting sharply to close at 4.054.
• A bearish divergence in RSI suggests oversold conditions may persist.
• Volatility expanded during the 15-hour window, with volume peaking at 584,110.
• A key support level appears to form near 4.05, with potential for further downward extension.
• Momentum indicators suggest caution ahead as price nears the 4.02–4.05 cluster.

The PLUMETRY pair opened at 4.108 on October 9 at 16:00 ET and reached a high of 4.307 before retracting to a low of 3.923 during the session. It closed at 4.054 as of 12:00 ET on October 10. Total volume over the 24-hour window was approximately 2,651,107, with notional turnover amounting to roughly 10,696,260 Turkish Lira.

Structure & Formations

Price formed a series of bullish and bearish reversal patterns over the day, including a key bearish engulfing pattern around the 4.30–4.28 level. This pattern was followed by a rapid decline into the 4.15–4.05 range, where a potential double-bottom structure is forming. A notable doji emerged near the 4.132 level, signaling indecision and potential reversal. Resistance levels to watch are at 4.18 (failed bearish breakout), 4.25 (congestion zone), and 4.30 (prior high), while support appears to be forming at 4.05, 4.02, and 3.95.

Moving Averages and MACD / RSI

The 20-period and 50-period moving averages on the 15-minute chart have converged around the 4.20–4.25 range, indicating strong resistance. On the daily chart, the 50- and 200-period SMAs are separating, with the 50-period moving above the 200-period, forming a potential golden cross. However, the price is currently below the 50-period MA on the daily timeframe, which suggests bearish pressure remains.

The MACD line crossed below the signal line in the morning session, confirming a bearish momentum shift. RSI has entered oversold territory at 28, though it hasn't yet triggered a bounce, which suggests caution is warranted. The divergence between price and RSI may indicate the possibility of a short-term bounce, but a sustained move higher is unlikely without a break above 4.20.

Bollinger Bands and Fibonacci Levels

Volatility expanded significantly during the price drop from 4.30 to 4.05, with the Bollinger Bands widening. The price closed near the lower band at 3.95–4.05, suggesting it may be oversold. A potential retracement target based on the 61.8% Fibonacci level from the 4.30–4.05 move is around 4.18. The 38.2% level sits at 4.12. These levels could act as key support/resistance for the next 24–48 hours.

Volume & Turnover

Volume spiked dramatically during the price drop from 4.30 to 4.05, with a single 15-minute bar at 4.0500 showing 584,110 in volume. This suggests a coordinated selling pressure. Turnover also increased in line with the price drop, showing no divergence between volume and price action. This confirms the bearish sentiment. A follow-through increase in volume on a rebound would be a positive sign for short-term buyers.

Backtest Hypothesis

A backtesting strategy that leverages the 61.8% Fibonacci retracement and the 50-period MA as key decision points could be tested in this market. For example, a buy signal could be generated when price closes above the 61.8% level (around 4.18) and the 50-period MA turns upward. A stop-loss could be placed below the 4.05 level, with a target at 4.25–4.30. This strategy would rely on the assumption that Fibonacci levels can act as dynamic support/resistance and that the 50-period MA reflects shifting momentum. Given the current bearish setup, this strategy would need to be cautiously timed, as overbought conditions could persist.