SynFutures/Turkish Lira (FTRY) Market Overview

Summary
• Price tested key resistance near $0.508 before retreating to $0.4979.
• Volatility spiked during overnight trading, driven by high volume spikes.
• RSI and MACD suggest momentum has weakened after the morning rally.

Opening Narrative

SynFutures/Turkish Lira (FTRY) opened at $0.503 on 2025-11-09 at 12:00 ET, reaching a high of $0.512 and a low of $0.4854, and closed at $0.4979 on 2025-11-10 at 12:00 ET. Total volume over the 24-hour window was 17,625,226.0, with turnover amounting to 7,581.0 Turkish Lira.

Structure & Formations

FTRY’s price movement displayed a bearish engulfing pattern at $0.5072 to $0.5006 in the early morning, followed by a doji at $0.5034 at 02:45 ET, signaling indecision. A key support level appears to be forming near $0.4979, where the price paused in the morning and again late morning.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed near $0.504, suggesting a possible short-term reversal. On a daily timeframe, a 50-period moving average sits around $0.499, and a 200-period line near $0.502, indicating the asset remains in a tight consolidation phase.

MACD & RSI

The MACD crossed below the signal line early in the morning, signaling bearish momentum. RSI has declined from overbought territory to neutral levels, hovering near 50, suggesting the recent rally may be losing steam.

Bollinger Bands

Bollinger Bands expanded during the early morning price action, with the asset moving from the upper band at $0.512 to the lower band at $0.4854. The current price of $0.4979 resides near the mid-band, indicating a possible resumption of consolidation.

Volume & Turnover

High trading volume was observed around 07:45 ET with a $0.5256 high, where 6,379,912.0 volume was recorded, followed by a pullback to $0.5109. A divergence between the rising price and declining volume in the early morning suggests waning bullish conviction.

Fibonacci Retracements

Fibonacci levels on the recent 15-minute swing from $0.512 to $0.4854 show 61.8% retrace near $0.4979, where the price found temporary support. A test of the 38.2% level at $0.503 could determine whether the correction is complete.

Backtest Hypothesis

Given the recent consolidation and potential reversal signals, a 5-day hold strategy from a confirmed MACD golden cross could be tested, provided clean OHLCV data is available. If HOLD.P data is not resolvable, an alternative instrument or manually provided price history would be needed to proceed with the backtest.