SynFutures/Turkish Lira Market Overview

• Price swung between $0.66 and $0.72, closing near 0.6756 after a sharp reversal from 0.66.
• Volume spiked during the overnight recovery, confirming the bullish reversal.
• RSI suggests moderate oversold conditions earlier, but momentum is now stabilizing.
• Bollinger Bands show recent volatility expansion, with price near the lower band.
• Key support appears near 0.66–0.67, and resistance near 0.68–0.685.

SynFutures/Turkish Lira (FTRY) opened at $0.6754 on 2025-10-28 at 12:00 ET, hitting a high of $0.7222 and a low of $0.63 before closing at $0.6756 on 2025-10-29 at 12:00 ET. The 24-hour volume amounted to 121,647,607.0 with a notional turnover of approximately $82,992,564.

Structure & Formations

Over the past 24 hours, FTRY exhibited a key reversal pattern following a sharp selloff below 0.66. Price found strong support near 0.66–0.67 and formed a bullish reversal pattern, characterized by higher lows and a retesting of prior resistance as support. A notable bearish engulfing pattern occurred during the initial drop, but it was later negated by a strong rally. A doji formed near 0.6756, signaling indecision and possible exhaustion in both buyers and sellers.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have converged around 0.675–0.678, currently acting as dynamic support. The 50-period MA appears to have crossed above the 20-period MA, suggesting a possible short-term bullish shift. On the daily chart, price is above the 50 and 100-period MAs, but below the 200-period MA, indicating mixed sentiment between near-term optimism and longer-term caution.

MACD & RSI

The 15-minute MACD has turned bullish with the line crossing above the signal line, while the histogram is expanding, indicating strengthening momentum in the recovery. RSI has moved out of oversold territory and is currently near 52, suggesting price may consolidate before breaking out. A strong divergence in RSI earlier in the session hinted at a potential reversal, which has since been confirmed by the upward price action.

Bollinger Bands

Price spent much of the 24-hour period near the lower Bollinger Band, indicating oversold conditions. The bands have recently expanded, reflecting increased volatility, especially during the overnight rally. With the current close near the middle band, FTRY appears poised to test the upper band next if momentum holds. A breakout above 0.685 could trigger a test of the upper band at 0.70.

Volume & Turnover

Volume surged during the overnight recovery, particularly between 01:00 and 02:00 ET, confirming the bullish reversal. Notional turnover also spiked during this time, aligning with the price action. There is no significant divergence between volume and price, suggesting the recovery has strong on-chain support. A reduction in volume during the morning session indicates potential exhaustion, however.

Fibonacci Retracements

Applying Fibonacci retracements to the 24-hour swing from 0.63 to 0.7222 shows price currently hovering near the 38.2% level at 0.6756. A move above the 50% level at 0.6766 would strengthen the bullish case. On the daily chart, the 61.8% level remains around 0.68–0.685 and could serve as a critical target for near-term buyers.

Backtest Hypothesis

Given the technical indicators outlined—particularly the RSI divergence and the MACD crossover—a potential backtesting strategy could leverage these signals for entry. Using a 14-period RSI with an overbought threshold of 70 and overbought confirmation at the next session’s open could help filter strong buy opportunities. A sell at the close of the same session would allow for short-term momentum capture. This aligns well with the recent price action observed in FTRY, where RSI divergence preceded a sharp recovery and MACD confirmed the reversal.