PLUMETRY Breaks Out — But Volume Divergence Raises Red Flags

Summary
• PLUMETRY consolidated between 0.501–0.520, forming a bullish 5-minute engulfing pattern near 0.516.
• Momentum accelerated in early ET hours, with RSI reaching 62–66 and MACD turning positive.
• Bollinger Bands expanded as volatility surged after 03:30 ET, pushing price toward the upper band.
• Turnover spiked over $511k at 03:30 ET, aligning with a 0.520 high and confirming bullish strength.
• Volume declined sharply in the final 4 hours, signaling potential exhaustion ahead of key resistance.

At 12:00 ET–1, Plume/Turkish Lira (PLUMETRY) opened at 0.498, peaked at 0.520, and closed at 0.490, with a low of 0.484. Total volume was 7.19M, and notional turnover reached $599k.

Structure & Support/Resistance Levels

The 24-hour chart shows a key 5-minute bullish engulfing pattern near 0.516, suggesting short-term buyers regained control. A critical support level appears to be forming at 0.490–0.493, with resistance near 0.514–0.520. Fibonacci retracement levels from the 0.484 to 0.520 swing suggest 61.8% at 0.507 as a possible near-term target for buyers.

Momentum Indicators

RSI surged from mid-50s to 66, indicating short-term bullish momentum, while MACD turned positive after 03:30 ET, confirming the upward move. However, RSI failed to reach overbought territory, which may indicate a cautious rally with limited conviction.

Volatility and Bollinger Bands

Bollinger Bands expanded significantly after 03:30 ET as PLUMETRY approached the upper band. Volatility surged during the 03:30–06:00 ET window, with a high of 0.520, followed by a pullback to 0.490. This suggests a period of consolidation may be forming, with a potential test of key support levels ahead.

Volume and Turnover Analysis

Notional turnover spiked to $511k at 03:30 ET as PLUMETRY reached 0.520, confirming the strength of the bullish breakout. However, volume sharply declined after 08:00 ET, with turnover dropping below $6k at 08:30 ET. This divergence could suggest weakening momentum and the possibility of a pullback or consolidation in the near term.

The price may attempt to test the 0.507–0.514 range in the next 24 hours, but risks reversing if support at 0.490–0.493 fails to hold, particularly if volume does not pick up. Investors should monitor Bollinger Band contractions and RSI behavior for signs of renewed volatility.