Chainlink/Yen (LINKJPY) Market Overview: 24-Hour Summary

• Chainlink/Yen (LINKJPY) posted a modest 24-hour gain, rebounding from a 2750 Yen trough to close near 2801 Yen at 12:00 ET.
• Price action showed a bullish reversal pattern after a midday selloff, with volume picking up during the recovery.
• Volatility and momentum indicators pointed to a potential short-term overbought condition, suggesting caution ahead.
• Bollinger Bands tightened during the overnight consolidation, signaling a potential breakout ahead of the close.
• Turnover remained subdued until the afternoon rally, confirming the recent price action but with limited breadth.

At 12:00 ET on October 26, 2025, Chainlink/Yen (LINKJPY) opened at 2756 Yen and closed at 2801 Yen, reaching a high of 2826 Yen and a low of 2712 Yen during the 24-hour period. The total volume traded was approximately 1,054.81 units, with a notional turnover of roughly 2,878,937 Yen, based on the reported prices and volumes. The pair showed a clear reversal pattern during the afternoon, with a sharp rally confirming a potential shift in sentiment.

Structure & Formations

Price formed a distinct bullish reversal pattern during the afternoon, particularly between 09:30 and 11:45 ET, with a strong close above the morning’s key resistance. Notably, the 15-minute chart featured a bearish engulfing pattern at 2750 Yen and a bullish engulfing pattern at 2799 Yen. A potential support level was reinforced at 2750 Yen, where price stalled multiple times during the early session. A doji near 2758 Yen at 06:00 ET also signaled indecision ahead of the afternoon move.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed near 2760–2765 Yen during the mid-morning, confirming a shift in momentum. On the daily chart, price closed above the 50-period MA, suggesting continued medium-term strength, though the 200-period MA remains a key long-term resistance at 2780–2800 Yen. The 100-period MA currently rests at around 2775 Yen, offering a near-term reference.

MACD & RSI

The MACD showed a bullish crossover during the afternoon, aligning with the price reversal and confirming a short-term uptrend. The RSI briefly touched overbought territory (above 65) near the close, suggesting a potential pullback in the short term. However, the RSI held above 50 for most of the session, indicating bullish control. A dip below 55 could trigger defensive selling in the next 24 hours.

Bollinger Bands

Bollinger Bands tightened during the overnight consolidation phase and expanded significantly during the morning sell-off, reaching a 2750–2765 Yen range. Price re-entered the upper band by midday, with the 2800 Yen level becoming a de facto resistance. A breakout above 2806 Yen could open the door to 2820–2830 Yen, while a retest of the lower band near 2750–2755 Yen appears key for near-term support.

Volume & Turnover

Volume remained relatively quiet during the early morning, with a sharp increase during the 09:30–11:45 ET period, coinciding with the sharp price rally. Turnover spiked during the 13:30–15:00 ET window, suggesting institutional participation. A divergence between volume and price during the 04:00–06:00 ET consolidation suggests lingering bearish pressure, though the afternoon volume surge provided confirmation for the bullish reversal.

Fibonacci Retracements

Applying Fibonacci retracement to the 2750–2826 Yen swing, key levels include 2794 Yen (38.2%), 2800 Yen (50%), and 2814 Yen (61.8%). Price held above 2794 Yen during the afternoon and closed near 2800 Yen, indicating a possible continuation of the rebound. On the daily chart, the 2780–2800 Yen range represents a 38.2–50% retracement from recent bearish moves, with a 61.8% level near 2820 Yen.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions on a bullish engulfing pattern confirmed by a break above the 20-period moving average, with a stop-loss placed below the 50-period MA or a key Fibonacci support. The MACD crossover and a RSI above 55 could serve as additional filters. Given the recent price action and volume confirmation, this approach might align with the current trend. However, due to the overbought RSI and potential for a short-term pullback, including a trailing stop near the 2770–2775 Yen level could help manage risk while allowing for upside potential.