Market Overview: Polymesh/Turkish Lira (POLYXTRY) – 24-Hour Technical Snapshot

Summary
• POLYXTRY opened at $2.93, reaching a high of $2.93 and a low of $2.69 before closing at $2.87.
• Strong bearish momentum emerged after 21:45 ET with a sharp drop to $2.70, confirmed by increasing volume.
• Volatility expanded during the session, with Bollinger Bands widening and RSI showing potential oversold conditions.

Opening Narrative

Polymesh/Turkish Lira (POLYXTRY) opened at $2.93 on 2025-11-04 at 12:00 ET and closed at $2.87 one day later. The pair reached a 24-hour high of $2.93 and a low of $2.69, showcasing a volatile session with a total traded volume of 34,238.6 units and a notional turnover of $96,423.00.

Structure & Formations

Key support levels emerged around $2.70–$2.77 and $2.69, where multiple candlesticks showed bullish rejection. A bearish engulfing pattern formed after 21:45 ET when the price closed below a prior bullish candle. A morning rally from $2.77 to $2.87 suggests a possible short-term rebound, though a long upper shadow in the early morning candle indicates resistance at $2.85–$2.87.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs both trended downward during the night session, indicating bearish momentum. On the daily chart, the 50-period SMA is above the 100-period and 200-period SMAs, suggesting mixed signals—short-term bearish with long-term indecision.

MACD & RSI

The MACD crossed below the signal line after 21:00 ET, confirming bearish momentum. The RSI dipped below 30 twice, indicating oversold conditions at $2.70 and $2.69. However, a rebound above 50 suggests a temporary pause in the downtrend.

Bollinger Bands

The price broke below the lower Bollinger Band after 21:45 ET, confirming increased volatility. The bands have since widened, suggesting the market is in a volatile phase. The price remains near the lower band, signaling a potential bounce or continuation of the downtrend.

Volume & Turnover

The largest volume spike occurred around 21:45 ET, during the sharp price drop to $2.70. This was followed by a smaller but significant volume increase at $2.69, suggesting accumulation. Notional turnover increased in tandem with volume, confirming the strength of bearish and bullish moves.

Fibonacci Retracements

A key Fibonacci level at 61.8% of the $2.69–$2.87 swing is around $2.77, where the price found support and bounced. This level may continue to offer support or resistance in the coming hours.

Backtest Hypothesis

A potential backtesting strategy for POLYXTRY could be built around RSI-14 oversold levels (<30) as entry signals, with an exit condition when RSI rises back above 50 or after a maximum 24-hour holding period. Given the recent oversold readings at $2.70 and $2.69, this strategy could have captured short-term rebounds. A broader market proxy such as SPY could be used for comparison, but POLYXTRY’s high volatility suggests this pair is more suited to short-term, high-frequency strategies.