Litecoin/Yen (LTCJPY) Market Overview

• Price opened at 17293.0 and surged to 17708.0 before retracting to close at 17177.0.
• High volatility and volume surges indicate strong short-term trading activity.
• RSI suggests overbought and oversold conditions within the 24-hour window.
• A bearish engulfing pattern appears near peak, hinting at potential reversal.
• Bollinger Band expansion indicates increased market uncertainty and price swings.

Litecoin/Yen (LTCJPY) opened at 17293.0 on 2025-09-18 12:00 ET and surged to a high of 17708.0 before retracing to close at 17177.0 by 12:00 ET on 2025-09-19. Over the 24-hour window, the total volume traded was approximately 675.335 LTC, with a notional turnover of ¥12,037,504.50, based on average prices and trade amounts.

The price action revealed a bearish engulfing pattern near the 17708.0 high, suggesting a potential reversal after a strong bullish phase. Key resistance appears to have been tested around 17640.0, with a failed breakout attempt. On the lower end, strong support was seen at 17200.0 and 17177.0, where price consolidated after a sharp drop. The 20-period and 50-period moving averages crossed multiple times, indicating a mixed sentiment between short-term bullish momentum and longer-term bearish pressure.

RSI oscillated between overbought (>70) and oversold (<30) conditions, with two overbought peaks at 17708.0 and 17640.0 and a deep oversold at 16999.0. This suggests a volatile, ranging market with potential for mean reversion. MACD showed a bearish crossover late in the session, aligning with the downtrend in the last 6 hours. Bollinger Bands expanded notably, indicating heightened volatility, while the closing price sat near the lower band at 17177.0—suggesting the market may find temporary support there.
Fibonacci retracement levels from the 17293.0 to 17708.0 move identified key levels at 17520.5 (38.2%) and 17396.5 (61.8%). Price bounced off 17390.0—close to the 61.8% level—before trending lower, indicating possible short-term exhaustion in the bearish move.



The backtest strategy involves entering long positions when RSI crosses below 30 and the price forms a bullish engulfing pattern near a key Fibonacci retracement level, and exiting when RSI crosses above 70 or a bearish reversal pattern forms. The data suggests that such a strategy could have captured a partial recovery from the 16999.0 low to 17116.0, but would have faced challenges due to the erratic RSI and MACD signals throughout the session. This highlights the need for additional filters, such as volume confirmation or Bollinger Band reversion, to improve trade reliability.