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

Summary
• Price surged from $3.27 to $3.66, closing at $3.62 after volatile 15-minute swings.
• Strong bullish momentum confirmed by RSI and MACD, with volume spiking near the close.
• Key support around $3.27 and resistance at $3.66 identified; price may test these levels.

Polymesh/Turkish Lira (POLYXTRY) opened at $3.45 on 2025-11-11 at 12:00 ET, surged to a high of $3.72, and closed at $3.62 on 2025-11-12 at 12:00 ET. The 24-hour total volume was 1,239,117.8 and turnover was $4,345,260.79, indicating heightened activity in the final hours of the session.

The candlestick pattern displayed strong momentum throughout the session, with a clear breakout above key resistance levels following a consolidation phase. The price found early support around $3.30, which held before a rally began after 00:00 ET. By 05:00 ET, POLYXTRY had formed a bullish engulfing pattern, suggesting a likely continuation of the upward trend. This was further supported by a positive divergence in volume, with the largest volume spike occurring during the final 4 hours of the session.

Structure & Formations

Key support levels formed around $3.27 (tested twice) and $3.30, while resistance levels at $3.55 and $3.66 were notably capped or bounced from. The most notable candlestick pattern was the Bullish Engulfing pattern observed at 05:00 ET and 05:45 ET, signaling a potential trend reversal or continuation of bullish momentum. The price also formed a Hammer near the session open and a Shooting Star near the high of $3.72, indicating indecision at the top.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed positively around 04:30 ET, reinforcing the bullish signal. The 50-period moving average (50MA) is now below the current price, suggesting the trend remains intact. On the daily chart, the 50/100/200 MA lines are in a bullish alignment, with the 200-day MA supporting the current price action as a potential floor.

MACD & RSI

The MACD crossed above the signal line around 03:30 ET and remained positive through the close, indicating strong bullish momentum. The RSI reached overbought territory multiple times, peaking at 72, but did not trigger a sell-off. Instead, price continued to rise on increasing volume, suggesting strong demand. The RSI is now consolidating near 65, indicating further momentum could be capped or consolidated in the near term.

Bollinger Bands

Price action expanded beyond the upper Bollinger Band at $3.66–$3.72, indicating a breakout phase. The volatility contraction was observed earlier in the session, narrowing the bands between $3.35 and $3.42. Price then expanded rapidly beyond the upper band, suggesting a high-probability continuation of the rally. Currently, the price is within the bands but near the upper edge, indicating caution for further short-term gains.

Volume & Turnover

Volume increased dramatically from 00:15 ET onward, peaking at over 305,444.1 units at 06:30 ET. Turnover followed suit, with the highest notional value recorded during the $3.60–$3.72 price range. The volume–price alignment is strongly positive, with no divergences detected. This confirms the strength of the recent rally and rules out a short-term top.

Fibonacci Retracements

Fibonacci retracements drawn from the key swing low at $3.27 and high at $3.72 showed the price tested the 61.8% level at $3.60 during the final hours. The 38.2% retracement level was at $3.47, which acted as a support before the rally. The 78.6% level at $3.68 was the most recent resistance, and price closed near that area, suggesting the next test may occur near $3.75.

Backtest Hypothesis

Given the strong Bullish Engulfing patterns observed at 05:00 and 05:45 ET, a backtest strategy could be constructed using these patterns to trigger long entries. Applying the “T+1 open → T+1 close” execution convention would align with the fast-moving nature of this asset. Testing this strategy on POLYXTRY and comparing it to a relevant benchmark—such as a broad crypto index or a stablecoin benchmark—could provide insight into the effectiveness of using candlestick patterns for short-term trading decisions. This approach could be expanded to other small-cap cryptocurrencies to assess generalizability.