Market Overview for Chainlink/Yen (LINKJPY)

Summary
• Price surged to ¥2,284 before consolidating near ¥2,126 by close.
• Volume spiked during the midday rally but faded in late trading.
• RSI suggests moderate overbought conditions during peak.
• Key support identified near ¥2,100-2,120 range.

24-Hour Price and Trading Summary

At 12:00 ET on 2025-12-11, Chainlink/Yen (LINKJPY) opened at ¥2,220, reached a high of ¥2,318, dipped to a low of ¥2,101, and closed at ¥2,126. Total volume was 39,393.56, with notional turnover of ¥84,682,251.

Structure and Trend Indicators

The 24-hour chart shows a strong bullish impulse in the morning, followed by a pullback that formed a bearish engulfing pattern at the peak. A strong support level emerged near ¥2,120-2,100, with a potential counter-trend bounce observed after the 3:00 AM ET low. On the 5-minute chart, the 20- and 50-period moving averages crossed in a bullish formation during the peak rally, but the 50-period line is now bearish on the pullback.

Volatility and Momentum Metrics

Bollinger Bands expanded sharply during the ¥2,200–2,320 range, indicating high volatility. Price closed below the 20-period band midday, suggesting possible bearish momentum. RSI reached 67–70 during the rally, pointing to overbought conditions, while MACD lines diverged with price, hinting at potential bearish divergence.

Volume and Turnover Insights

Volume spiked during the ¥2,250–2,320 rally, with a turnover of ¥18,028,600 in the 15-minute window around 2:15 AM ET. However, volume dried up significantly in the late afternoon, with a sharp drop in turnover as price fell below ¥2,200. This divergence between price and volume raises caution about the sustainability of the rally.

Fibonacci and Key Levels

A 61.8% Fibonacci retracement of the ¥2,100–2,318 move lands near ¥2,160, which was tested in the late afternoon before a breakdown. A 38.2% retracement is near ¥2,210, where the price stalled midday. These levels may offer near-term resistance and support as the market consolidates.

The market appears to be in a post-rally correction phase, with strong short-term support near ¥2,120. While a bounce could test ¥2,210 again, a break below ¥2,100 could accelerate bearish momentum. Investors should monitor volume for any signs of reversal or continuation.