Litecoin/Yen Market Overview (LTCJPY) - 24-Hour Analysis

• LTCJPY surged 5.7% over 24 hours, breaking above key resistance at ¥17,600.
• High volume confirmed strength near ¥17,700–17,800, suggesting bullish momentum.
• RSI approached overbought territory, hinting at potential short-term correction.
• Volatility expanded as Bollinger Bands widened, with price near the upper band.
• A bullish engulfing pattern formed at ¥17,700, reinforcing the potential for further gains.

24-Hour Performance Summary

Litecoin/Yen (LTCJPY) opened at ¥17,388 on 2025-10-04 16:00 ET, surged to a high of ¥18,306, and closed at ¥17,736 by 12:00 ET on 2025-10-05. The 24-hour total volume was 918.38 units of LTC, with a notional turnover of ¥14,226,643.56. The price action shows strong upward momentum, supported by high-volume buying in the ¥17,700–17,800 range.

Structure & Formations

The LTCJPY chart displayed a bullish engulfing pattern at ¥17,700, with a high-volume candle confirming the break above ¥17,700. A potential support level appears at ¥17,660–17,685, where the price pulled back before resuming higher. A key resistance was breached at ¥17,750, which may now act as a new support.

Moving Averages

On the 15-minute chart, the 20-period MA sits at ¥17,730, slightly below the 50-period MA at ¥17,745, indicating a potential consolidation phase. On a broader scale, the 50-period MA has crossed above the 100-period MA, suggesting a developing bullish trend. The 200-period MA remains below, indicating medium-term bullish sentiment.

MACD & RSI

The MACD crossed above the signal line with a histogram showing expansion, indicating growing bullish momentum. RSI rose to 68–70 in the final hours, approaching overbought territory and hinting at a possible pullback or consolidation in the near term.

Bollinger Bands

Bollinger Bands showed a period of volatility expansion, with the price closing near the upper band at ¥17,740. The widening of the bands suggests increased buying interest, particularly in the ¥17,650–17,750 range. A potential retest of the middle band at ¥17,700 could confirm the strength of the current trend.

Volume & Turnover

Notable volume spikes occurred in the ¥17,650–17,800 range, with a total volume of over 184 units of LTC during the ¥17,700–17,800 breakout. Turnover increased in lockstep, confirming the bullish breakout. A divergence in volume was observed during the ¥17,850–17,750 pullback, suggesting possible profit-taking.

Fibonacci Retracements

Fibonacci retracement levels on the 15-minute swing show that the price held above the 61.8% level at ¥17,720 before pushing to ¥17,736. On a daily chart, the 38.2% retracement level at ¥17,760 may act as a potential resistance and profit-taking zone in the next 24 hours.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions at the 61.8% Fibonacci retracement level, with a stop-loss placed below the 50-period MA. The 20-period MA could serve as a dynamic trailing stop, while RSI over 70 would signal an exit or partial profit-taking. This approach would aim to capture upward momentum while managing risk during potential overbought conditions.