Market Overview: Polymesh/Turkish Lira (POLYXTRY) 24-Hour Candlestick Analysis

Summary
• POLYXTRY shows a bullish reversal pattern after hitting a 24-hour low at 3.22.
• Volume surged above 6,500 at the session high, confirming momentum.
• Price closed 1.19% higher at 3.36, with RSI near overbought levels.
• A consolidation phase appears imminent after a sharp 6.5% rebound.
• Bollinger Bands signal high volatility, with price at the upper band.

Polymesh/Turkish Lira (POLYXTRY) opened at 3.23 on 2025-11-07 at 12:00 ET, reaching a high of 3.36 and a low of 3.22 before closing at 3.36 on 2025-11-08 at 12:00 ET. Total volume amounted to 89,828.1 units, with a notional turnover of approximately 297,276 Turkish Lira over the 24-hour period.

The 15-minute candlestick chart reveals a strong bullish reversal formation, particularly between 18:15 and 21:30 ET, where price surged from 3.28 to 3.35. A bullish engulfing pattern emerged at 21:15 ET as a 3.34 open was followed by a 3.35 close. This was supported by a sharp volume spike of 186.2 units in the following 15-minute bar. Later, between 02:30 and 05:45 ET, the pair consolidated at 3.30–3.34 on low volume, suggesting traders were digesting the move.

A 20-period and 50-period EMA on the 15-minute chart shows a steep bullish crossover, with the 20-EMA well above the 50-EMA. The MACD line turned positive and crossed above the signal line in the late evening, confirming strengthening momentum. RSI reached 68.5 by the close, indicating the pair is approaching overbought territory. Bollinger Bands widened significantly during the 18:00–21:30 ET period, with price frequently at or near the upper band.

Fibonacci retracement levels at 3.31 (61.8%) and 3.34 (78.6%) were key resistance levels during the session. A small bearish rejection was seen at 3.34 around 06:00 ET, but buyers stepped in quickly to push price higher again. The volume profile showed a divergence between early morning consolidation and the late-night bullish breakout, which may indicate institutional accumulation during quieter hours.

A potential backtest hypothesis would involve entering long positions on a bullish engulfing or pinocchio candle, confirmed by a 15-minute RSI crossover above 50 and a close above a 50-EMA. Holding the position for up to 72 hours or exiting on a 1.5% stop loss or 6% take profit. This strategy could be applied from 2022-01-01 to the present, with a focus on high-volume bars and RSI divergence as entry filters.