Market Overview for Polymesh/Turkish Lira (POLYXTRY) – 2025-11-14

Summary
• Price dropped from an open of $3.32 to a low of $2.96, closing near $3.05 after significant volatility.
• High volume confirmed key price breaks during the session, especially from 00:00–06:00 ET.
• RSI indicated oversold levels mid-session, while MACD diverged slightly from price action.

Price Action and Structure

Polymesh/Turkish Lira (POLYXTRY) opened at $3.32 on 2025-11-13 and reached a 24-hour high of $3.80 at 00:30 ET before correcting sharply. The pair closed at $3.05 on 2025-11-14, down approximately 7.9%. A key support level appears to form around $3.00–3.05, where the price consolidated late in the session. A bearish engulfing pattern was evident during the early morning hours following the peak.

Key resistance levels observed include $3.19–3.22 and $3.26–3.32, where price repeatedly failed to hold.

Volatility and Momentum

Bollinger Bands widened significantly during the initial 2–3 hours of the session, reflecting heightened volatility. Price closed near the lower band, suggesting bearish momentum.

Relative Strength Index (RSI) dipped into oversold territory (below 30) around 05:00–06:00 ET, hinting at potential short-term bounces. However, the MACD showed mixed signals—while the line crossed below the signal line during the decline, the histogram did not confirm a strong bearish bias.

Volume and Turnover

Total 24-hour volume amounted to 765,778.1, with notable spikes exceeding 240,000 at 00:30 ET and 09:15 ET. The largest turnover occurred early in the session during the peak, indicating a potential profit-taking or market reaction to news.

A divergence was observed between price and volume after the 06:00–09:00 ET window, where price continued to decline but volume did not confirm the move. This may indicate a weakening bearish thesis in the near term.

Trend and Key Levels

Applying Fibonacci retracement levels to the recent $3.80–$2.96 swing, the 61.8% level sits around $3.15, which now acts as a dynamic resistance. The 50% level at $3.38 was tested and rejected multiple times earlier in the session.

20-period and 50-period moving averages on the 15-minute chart both trended downward, confirming the short-term bearish bias. The 50-period MA on daily data is also bearish, reinforcing the idea that this decline may have further to run in the next 24–48 hours.

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The market appears to be in a short-term bear phase, with key support at $3.05–3.09 and resistance at $3.19–3.22. A breakout above $3.26 would suggest a possible reversal, but volume and momentum indicators have not confirmed a strong bullish case yet.

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Backtest Hypothesis

To evaluate the effectiveness of a potential trading strategy based on the identified patterns and levels, a backtest would require a reliable price history for POLYXTRY. However, the current system could not retrieve historical price data for this ticker. If the correct ticker symbol or an external price series is provided (e.g., in CSV or JSON format), the backtest can be executed to validate entry and exit rules around the $3.05 support and $3.22 resistance levels, using RSI divergence and volume confirmation as triggers.