Market Overview for BNB/Yen (BNBJPY): 24-Hour Technical Summary

• BNB/Yen trades lower over the last 24 hours, closing at 162723 vs. a high of 169278 and a low of 160193.
• A sharp bearish reversal emerged after a 15-minute Bearish Engulfing pattern at 19:30 ET-1, confirming downward momentum.
• Volatility surged in the late hours of ET-1 before stabilizing, with volume peaking at 93.98k BNB in the first 15-minute candle.
• RSI remains oversold, suggesting a potential short-term bounce, though key Fibonacci levels may cap upside.
• MACD shows bearish divergence, with a negative histogram expanding through the night, confirming a strong bearish bias.

BNB/Yen (ticker BNBJPY) opened at 167767 at 12:00 ET–1 and closed at 162723 at 12:00 ET, recording a high of 169278 and a low of 160193. Total volume traded over 24 hours was 1,060.78 BNB, with a notional turnover of approximately ¥170,450,000 (assuming average price). The session was marked by a sharp bearish breakout from key resistance, supported by strong volume and bearish candlestick formations.

Structure & Formations

Price action showed a clear breakdown of the 165471 support level in the early hours of ET-1, confirmed by a 15-minute Bearish Engulfing pattern. This pattern emerged at 19:30 ET-1, with the body fully engulfing the prior bullish candle. Key resistance levels at 168850 and 169278 were decisively broken, while support at 165471 and 164059 were tested but failed to hold. A Morning Star formation was visible briefly in the early hours of ET, but it was quickly invalidated by renewed bearish momentum.

Moving Averages

On the 15-minute chart, price closed below the 20-period and 50-period moving averages, reinforcing a short-term bearish trend. On the daily chart (assuming weekly aggregation), price remains below the 50, 100, and 200-period MAs, which is bearish for the longer term. This alignment suggests that the 24-hour move is consistent with a broader downtrend.

MACD & RSI

The MACD crossed below the signal line during the sharp sell-off from 19:30–20:30 ET-1, with the histogram expanding negatively, indicating strong bearish momentum. RSI fell into the oversold territory during the session, hitting a low of ~25. While this may suggest a potential bounce, the divergence in the MACD histogram suggests further bearish pressure is likely.

Bollinger Bands

Volatility expanded sharply during the overnight session, pushing prices to the lower Bollinger Band multiple times. A contraction in volatility occurred during the afternoon of ET-1, but it was quickly followed by a breakaway move to the downside. Price remains near the lower band, which is bearish unless a strong reversal occurs.

Volume & Turnover

Volume spiked in the early morning hours of ET-1, particularly in the first 15-minute candle, where 93.98 BNB changed hands at 167767. This large-volume move coincided with the initial breakdown from key resistance. A notable divergence occurred between price and volume in the late hours of ET-1, where volume dropped despite continued price weakness, suggesting exhaustion in the short-term bearish move.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing high (169278) and low (160193), key retracement levels include 165127 (38.2%) and 162634 (61.8%). Price closed near the 61.8% level at 162723, suggesting this may act as a near-term floor unless bullish momentum accelerates. A break below 160193 would push it into the 78.6% extension zone.

Backtest Hypothesis

For a backtesting strategy based on the 15-minute Bearish Engulfing pattern, we recommend using the BNBJPY ticker quoted in Japanese Yen. Given the current bearish momentum and the appearance of a strong engulfing pattern at 19:30 ET-1, a short entry rule based on such patterns appears viable. For the exit rule, consider a fixed 2% take-profit and 1% stop-loss or a trailing stop from the entry point. This setup aligns well with the MACD divergence and RSI oversold condition, offering a risk-managed approach to capitalizing on the bearish bias. A back-test from 2022–01–01 to 2025–10–22 can evaluate the strategy's consistency in similar market conditions.