Market Overview for Chainlink/Yen (LINKJPY)

Summary
• Chainlink/Yen tested support at ¥2071, forming a potential bullish reversal pattern.
• Momentum shifted post ¥2090 as RSI dropped below 50 and volume increased.
• Volatility expanded with a 12.5% price range, showing heightened market activity.
• Bollinger Bands widened during the ¥2070–2118 swing, suggesting an active consolidation phase.
• Turnover peaked near ¥2110–2118, aligning with price resistance and confirming buyer participation.

Chainlink/Yen (LINKJPY) opened at ¥2105 on 2026-01-11 12:00 ET, reached a high of ¥2134, and closed at ¥2079 by 12:00 ET on 2026-01-12. Total volume was 8,179.36, and turnover was ¥17,394,592.89 over the 24-hour window.

Structure & Formations

Price tested a key support level near ¥2071–2073, forming a potential bullish reversal pattern. A bearish engulfing pattern appeared at ¥2118–2122, signaling a potential top. The consolidation phase between ¥2070–2118 showed no clear dominance, with price hovering near the mid-Bollinger Band for much of the session.

Moving Averages and Momentum

The 20-period and 50-period moving averages on the 5-minute chart remained below price, suggesting a bearish bias. The MACD showed a negative crossover near ¥2095–2085, indicating weakening bullish momentum. RSI dropped below 50 after ¥2090 and briefly hit oversold levels at ¥2071, hinting at potential support.

Volatility and Turnover

Volatility expanded with a range of ¥2071–2134 (12.5%) and a peak in Bollinger Band width. Notional turnover spiked at ¥2110–2118, aligning with price resistance, and again at ¥2071–2073, which coincided with a potential support test. No significant divergence between price and volume was observed.

Fibonacci Retracements

The ¥2071–2134 swing showed price rebounding off the 38.2% retracement level (¥2103) and then the 61.8% retracement (¥2079). The 50% level at ¥2103 acted as a temporary pivot but failed to hold.

Looking ahead, the next 24 hours may see renewed test of ¥2071–2073 for confirmation of support. A break above ¥2090 could reinvigorate bullish momentum. Investors should remain cautious as volatility remains elevated, and the absence of a clear trend increases the risk of sharp reversals.