Market Overview for THENA/Turkish Lira (THETRY)

Summary
• Price formed a bullish engulfing pattern near 7.419 after a sharp intraday decline.
• RSI hit oversold territory near 30, suggesting potential for a short-term rebound.
• Volume surged during a key 7.45–7.61 range, indicating heavy accumulation or distribution.
• Price remained within a tightening Bollinger Band range, signaling a potential breakout.
• 50-period moving average on 5-minute chart crossed above 20-period line, hinting at short-term bullish momentum.

Market Overview

At 12:00 ET–1 on 2025-12-11, THENA/Turkish Lira (THETRY) opened at 7.488, peaked at 7.622, and bottomed at 7.406 before closing at 7.573 at 12:00 ET on 2025-12-12. Total volume was 994,901.3 units, with notional turnover of 7,477,779.6 TRY.

Structure & Formations

Price action showed a key bullish engulfing pattern at 7.419 as it rebounded from a sharp 5-minute drop, signaling short-term reversal potential. A bearish doji appeared near 7.593 following a failed rally attempt, hinting at uncertain sentiment. Resistance levels formed at 7.603–7.622 and support at 7.406–7.419 were key during the session.

Moving Averages

On the 5-minute chart, the 50-period moving average crossed above the 20-period line during a 7.545–7.616 rally, reinforcing short-term bullish momentum.

On a daily timeframe, the 50-period line remained below the 200-period, maintaining a long-term neutral to bearish bias.

Momentum & Volatility

RSI briefly dipped to 30 during a 7.406–7.433 rebound, indicating oversold conditions and a possible bounce. MACD showed positive divergence during the late session 7.573–7.603 rally, suggesting continued upside potential. Bollinger Bands tightened as price moved between 7.406 and 7.616, pointing to a potential breakout in the next 24 hours.

Volume & Turnover

Trading volume surged during the 7.45–7.61 range, especially during a key 7.552–7.616 rally. Notional turnover followed volume closely, validating price action. However, a minor divergence occurred near 7.603, where volume waned despite a price increase.

Fibonacci Retracements

Key Fibonacci levels were drawn between the 7.406 low and 7.622 high, with 38.2% at 7.513 and 61.8% at 7.547. Price held above the 61.8% level on multiple occasions, suggesting accumulation at that level. Daily swings showed similar retracement patterns between 7.406 and 7.622, reinforcing key support and resistance.

The next 24 hours could see a test of the 7.622 intraday high or a pullback to 7.406 for consolidation. Investors should remain cautious about potential volatility and position accordingly.