Market Overview for THENA/Turkish Lira (THETRY)

Summary
• Price declined sharply after a strong morning rally, hitting a 24-hour low near 9.717.
• Volume spiked during the rebound, but failed to sustain bullish momentum.
• RSI is oversold territory, suggesting potential near-term buying interest.
• Key support appears at 9.717 with resistance forming near 9.827–9.837.
• Bollinger Bands show narrowing volatility ahead of the morning reversal.

The THENA/Turkish Lira (THETRY) pair opened at 9.837 on 2026-01-09, hit a high of 9.964, dropped to a low of 9.697, and closed at 9.755 by 12:00 ET on 2026-01-10. Total 24-hour volume was approximately 403,298.2 with a notional turnover of ~517,766.71 Turkish Lira.

Structure & Formations

The 24-hour chart shows a bearish reversal pattern as price declined from a morning high of 9.964 to a late-night low of 9.717, with key support forming around 9.717 and resistance near 9.827–9.837. A notable bearish engulfing pattern emerged around 05:30 ET as price collapsed from 9.955 to 9.89.

Indicators

The 5-minute RSI bottomed in oversold territory during the late-night decline, indicating possible short-term buying interest. MACD showed a bearish crossover during the morning high and remained bearish through the close. 20-period and 50-period moving averages on the 5-minute chart both trended downward, reinforcing the bearish bias.

Volatility and Volume

Volatility expanded during the morning rally, as seen by a wide Bollinger Band range. After hitting a 24-hour peak around 04:15 ET, volume dropped sharply, suggesting exhaustion on the long side. By contrast, the late-night rebound saw higher volume, but failed to break above the 9.837 level.

Turnover and Fibonacci Levels

Notional turnover surged during the morning high and again during the late-night dip, with notable divergence between price and turnover volume in the afternoon. Fibonacci retracement levels from the 9.697–9.964 swing suggest key levels at 38.2% (9.843), 50% (9.831), and 61.8% (9.819), where the price currently appears to be consolidating.

Outlook and Risk

If the 9.717 level holds, THETRY could test 9.74–9.75 as short-term support before attempting a recovery. However, failure to hold above this level could lead to a retest of the 9.697 intraday low. Investors should also watch for divergence between volume and price action as a potential early sign of trend fatigue.