Market Overview for Towns/Turkish Lira (TOWNSTRY) - 24-Hour Technical Summary

• TOWNSTRY rose 4.4% in 24 hours, closing near the session high after a strong post-ET recovery.
• RSI surged past 65, suggesting momentum may be overextended but lacks bearish divergence.
• Volatility expanded during the late ET hours, with Bollinger Bands widening post-00:00 UTC.
• Volume peaked at 0.805 TRY, confirming strength but lacking a decisive breakout above prior resistance.
• Key support near 0.790–0.795 TRY held, while resistance at 0.805–0.810 TRY remains critical for further upside.

Towns/Turkish Lira (TOWNSTRY) opened at 0.771 TRY on 2025-10-02 at 12:00 ET, hit a high of 0.819 TRY, and settled at 0.810 TRY by 12:00 ET on 2025-10-03. Total 24-hour trading volume reached 58,319,083.0, with notional turnover of approximately 45,267,857.3 TRY, reflecting heightened buying pressure and consolidation.

Structure & Formations revealed a clear bullish bias, with a strong recovery from 0.770 TRY into a mid-range consolidation above 0.800 TRY. A notable bullish engulfing pattern formed around 19:30–20:15 ET, followed by a consolidation phase with a doji at 02:45–03:00 ET indicating indecision. Key support levels were observed at 0.790 TRY, 0.785 TRY, and 0.776 TRY. Resistance levels include 0.805 TRY, 0.810 TRY, and 0.815 TRY.

The 15-minute 20-period and 50-period moving averages were closely aligned during the late ET/early UTC hours, with the 50-period line crossing above the 20-period line (golden cross) at around 03:00–04:00 ET. This confirmed a short-term bullish bias. On the daily chart, the 50-period and 200-period moving averages were diverging, with the 50-period line above the 200-period, suggesting a continuation of an upward trend could be in play.

MACD showed a positive crossover and rising histogram in the early UTC hours, supporting the bullish narrative. RSI crossed into overbought territory at 65, peaking at 71.6 during the 00:45–01:00 UTC period. However, no bearish divergence was observed, and the price held above critical moving averages, suggesting the upleg could continue. Bollinger Bands expanded after 00:00 UTC, reflecting increased volatility. The asset closed within the upper band, signaling strong momentum.

Volume and notional turnover spiked during the late ET/early UTC hours, especially between 0.801 TRY and 0.810 TRY. Volume at 0.805–0.810 TRY was particularly high, confirming strength in the rally. No significant divergence was observed between volume and price, indicating the move is well-supported. The total notional turnover of 45,267,857.3 TRY and volume of 58,319,083.0 suggest a liquid and active market.

Fibonacci retracement levels from the 0.771–0.819 TRY swing showed key levels at 0.795 TRY (38.2%), 0.805 TRY (50%), and 0.810 TRY (61.8%). The 50% and 61.8% levels held significance as price consolidation occurred near these zones. On the daily timeframe, retracement levels from the prior week’s swing indicated a potential target at 0.815 TRY before encountering major resistance.

Backtest Hypothesis
The described backtesting strategy targets long positions on TOWNSTRY during confirmed bullish divergences in RSI and MACD, with an emphasis on volume confirmation. A potential entry point would be at the 0.795 TRY level on a bullish breakout of the 0.800 TRY psychological threshold. A stop-loss at 0.790 TRY aligns with the 38.2% Fibonacci level, while the first profit target could be at 0.805 TRY. This strategy assumes that the current bullish momentum will continue as long as volume remains supportive and RSI does not re-enter oversold territory.