Market Overview for Chainlink/Yen (LINKJPY)

Summary
• Price formed bullish engulfing patterns late morning and afternoon ET, suggesting short-term buying interest.
• Volatility expanded in the late morning before contracting, hinting at consolidation and potential for a breakout.
• RSI entered overbought territory after the 08:30–09:45 ET rally, signaling possible profit-taking or momentum pause.
• Volume surged during key price spikes, validating bullish momentum but with occasional divergences in the afternoon.
• Price found support at 1944–1950 Yen multiple times, suggesting a short-term floor before the final 2000+ Yen rally.

Chainlink/Yen (LINKJPY) opened at 1950.0 Yen on 2025-12-21 12:00 ET, surged to 2008.0, dipped to 1944.0, and closed at 2002.0 Yen on 2025-12-22 12:00 ET. Total volume reached 2,042.38 LINK, while turnover hit approximately ¥4,157,269. Price action reflected a strong reversal, especially from 06:00–10:00 ET.

Structure & Formations

Late-morning bullish engulfing patterns at 1980–1988 Yen and afternoon consolidation between 1973–1988 Yen suggested a short-term bullish shift. A morning bearish reversal at 1959–1943 Yen indicated prior selling pressure before the rally.

A key support at 1944–1950 Yen was tested twice and held.

Moving Averages

On the 5-minute chart, price consistently traded above the 20-period and 50-period MA throughout the afternoon and into the evening, reinforcing bullish momentum. No daily MAs were available, but the intraday trend remained above key near-term moving averages.

MACD & RSI

MACD showed a strong positive crossover in the morning, confirming a rally. RSI reached overbought territory (70–80) in the late morning and again at 08:30–09:45 ET, suggesting potential for profit-taking or consolidation.

Bollinger Bands

Volatility expanded in the morning during the 1960–1986 Yen move, followed by a contraction between 1973–1988 Yen, indicating a potential resumption of trend. Price spent most of the afternoon within the upper and middle bands, suggesting a bullish continuation.

Volume & Turnover

Volume spiked during key bullish moves: the 00:30–01:00 ET rally, the 06:30–08:00 ET push, and the 08:30–09:45 ET advance. Turnover also spiked during these phases, confirming price action. Divergences in the afternoon 1973–1986 Yen range suggest potential exhaustion.

Fibonacci Retracements

Key Fibonacci retracement levels were observed in the 1944–1986 Yen swing, with 61.8% at ~1966 and 78.6% at ~1979. Price stalled briefly at 1979 before pushing higher, suggesting 1979 as a short-term pivot.

The price appears poised to test 2008–2016 Yen, with potential for a pullback if 1979–1986 Yen retests. However, overbought RSI and divergences in the afternoon warrant caution. Traders should monitor 1979 and 1990 as critical pivot points over the next 24 hours.