SHIBJPY Market Overview – September 20, 2025

• Price rose from 0.001901 to 0.001934 over 24 hours amid mixed momentum.
• RSI suggests overbought conditions in the late hours, while MACD confirmed bullish divergence.
• Bollinger Bands showed volatility expansion, with price near the upper band in the last 4 hours.
• Volume surged in the final hours, especially post 15:00 ET, confirming the upward move.
• A bullish engulfing pattern emerged in the 15-minute chart, suggesting a short-term continuation of the rally.

At 12:00 ET on September 19, 2025, SHIBJPY opened at 0.001913 and reached a high of 0.001935 before closing at 0.001932 at 12:00 ET on September 20. The 24-hour range was between 0.001896 and 0.001935. Total volume was approximately 33,797,137,000 SHIB, with a notional turnover of $64,096,427.

Structure & Formations

SHIBJPY formed a bullish engulfing pattern during the 15-minute timeframe around 15:30–16:00 ET, indicating a potential reversal from a bearish to a bullish bias. A key support level emerged at 0.001908, which held during two attempted tests and could now serve as a dynamic support. Resistance levels are forming at 0.001932 and 0.001935, both of which have been tested multiple times in the final hours of the 24-hour window.

Moving Averages

On the 15-minute chart, price has crossed above the 20-period and 50-period moving averages, signaling a short-term bullish trend. The 50-period moving average is rising, suggesting continued momentum. For the daily chart, the 50- and 100-period moving averages are converging, and the price is trading above both, indicating a positive bias.

MACD & RSI

The 15-minute MACD showed a bullish crossover with a positive histogram in the final hours of the 24-hour period, supporting the upward move. RSI reached 70 during the last 4 hours, indicating overbought conditions and suggesting that a pullback might be due, though bullish momentum remains intact. RSI’s divergence with the price suggests that buyers are stepping in at lower levels.

Bollinger Bands

Volatility expanded significantly in the last 6 hours, with Bollinger Bands widening from 0.000003 to 0.000008 in range. The price closed near the upper band at 0.001932, reinforcing the strength of the move. A contraction in volatility could signal a potential consolidation phase ahead.

Volume & Turnover

Volume spiked significantly in the final 3 hours of the 24-hour window, with an average of over 200 million SHIB traded per 15-minute interval. Notional turnover mirrored this increase, confirming the strength of the bullish move. The divergence between the early bearish volume and late bullish volume highlights a shift in market sentiment.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 15-minute swing from 0.001908 to 0.001935, the 61.8% retracement level is at 0.001923, which has held as a support-turned-resistance zone. Price is currently trading above the 78.6% level, suggesting continued upside potential if the 0.001935 level is tested and held.

Backtest Hypothesis

A potential backtest strategy involves entering long positions on a bullish engulfing pattern confirmed by a breakout above a key resistance level, such as the 0.001932 level, with a stop-loss placed below the previous swing low at 0.001919. A take-profit target could be set at the 0.001935 level or the 61.8% Fibonacci extension at 0.001938. The strategy could be further refined by incorporating volume and MACD confirmation. Given the recent behavior of SHIBJPY, including the strong volume and bullish momentum, this pattern appears to have a high probability of success, particularly in a low-volatility expansion phase. However, traders should remain cautious of overbought RSI levels and potential pullbacks.