Plume/Turkish Lira (PLUMETRY) Market Overview – 24-Hour Analysis (2025-10-31)

• PLUMETRY opened at 2.565 and reached a high of 2.606 before closing at 2.571 on 2025-10-31.• Price showed a bearish reversal after hitting 2.606, with RSI reaching overbought territory early in the session.• Notable 15-minute doji and engulfing patterns suggested indecision and potential trend exhaustion.• Volume surged at 2025-10-31 02:15 ET with a turnover of 190,038, coinciding with a sharp reversal move.• Bollinger Bands indicated a moderate expansion as volatility increased following the early break above key resistance.

Opening Narrative

Plume/Turkish Lira (PLUMETRY) opened at 2.565 at 12:00 ET–1 on 2025-10-31, reached a high of 2.606, and closed at 2.571 by 12:00 ET the same day. The pair traded within a range of 2.48 to 2.606, with a total notional volume of 1,182,717.0 and a total turnover of 2,958,174.0. This reflects strong intraday volatility and mixed sentiment.

Structure & Formations

The 24-hour 15-minute chart showed a key resistance at 2.606 and support at 2.502. A bearish engulfing pattern emerged at 2025-10-31 00:15 ET, signaling a potential short-term reversal. A doji at 2025-10-31 00:00 ET confirmed market indecision. Fibonacci retracement levels at 61.8% of the 2.48–2.606 swing were tested but failed to hold. Price appears to be consolidating around the 2.54–2.58 range, suggesting the formation of a new trading channel.

Moving Averages

Short-term momentum indicators such as the 20-period and 50-period moving averages showed a flattening trend, suggesting a loss of upward momentum. On the daily timeframe, the 50-period MA crossed above the 200-period MA earlier in the week, indicating a potential bullish bias, but this appears to be eroding. The price is currently trading slightly above the 50-period MA on the 15-minute chart but below the 100-period MA on the daily chart.

MACD & RSI

The MACD line turned negative after reaching a short-term peak of 0.025, suggesting bearish momentum. The RSI climbed above 70 early in the session, indicating overbought conditions, before retreating to a mid-50s level by 12:00 ET. This suggests a short-term topping pattern. The divergence between price and RSI near 2.606 hints at potential exhaustion in the short-term rally.

Bollinger Bands & Volatility

Volatility increased significantly during the 2.502–2.606 swing, with the upper Bollinger Band expanding beyond 2.6. At 02:15 ET, price broke out of a tight band, suggesting a breakout pattern. Currently, PLUMETRY is trading near the middle band, indicating a neutral position in the short term. A retest of the 2.502 level could trigger a further selloff, especially if the lower band contracts again.

Volume & Turnover

Volume spiked to 190,038 at 02:15 ET, coinciding with a reversal from 2.606 to 2.561, indicating a potential short-term top. Lower volume during the 2.528–2.557 consolidation phase suggests reduced conviction. Notional turnover also spiked during the high-volume session, confirming the reversal. Divergence between volume and price during the 2.57–2.551 dip suggests weakening buyer participation.

Backtest Hypothesis

The backtest strategy under consideration uses RSI as a primary signal generator, with RSI < 30 used to open long positions and RSI ≥ 70 to close them. This approach would align with the observed 24-hour action, as PLUMETRY briefly entered overbought territory early in the session before reversing. If applied to historical PLUMETRY data, this system could identify high-probability reversal points, especially during strong swings. Future validation would require testing this strategy from 2022–01–01 through 2025–10–31 to assess its performance and robustness across market conditions.