Market Overview for Ethereum/Yen (ETHJPY) on 2025-12-14

Summary
• ETHJPY tested a key support zone near ¥478,000–480,000 during a 24-hour selloff.
• A bullish engulfing pattern emerged near ¥481,800 after a sharp decline.
• Momentum reversed with RSI bottoming near oversold territory below 30.
• Volume spiked sharply during the selloff but failed to confirm a breakdown below ¥478,000.
• 20-period moving average remains below price, suggesting short-term bearish bias.

Ethereum/Yen (ETHJPY) opened at ¥485,308 at 12:00 ET – 1, hit a high of ¥488,735, a low of ¥476,587, and closed at ¥481,824 by 12:00 ET. Total volume was 831.485 ETH, with notional turnover of ¥398,226,450. Price action suggests a volatile 24-hour period with a failed breakdown from key support.

Structure & Formations

Price found a floor near ¥478,000–480,000 and responded with a bullish engulfing pattern following a sharp decline, suggesting short-term buying pressure. On the daily chart, ¥485,000 appears to be a key resistance level. A doji formed near ¥486,320, indicating indecision.

Moving Averages and Momentum

On the 5-minute chart, the 20-period MA moved below price during the selloff, reinforcing bearish momentum. The 50-period MA remained above price, hinting at lingering long-term optimism. RSI bottomed near 30 before a rebound, signaling oversold conditions may have triggered a bounce.

Volatility and Bollinger Bands

Bollinger Bands expanded significantly as volatility surged, with price dropping to the lower band during the selloff before rebounding. The contraction phase that followed may signal a potential consolidation period ahead.

Volume and Turnover

Volume spiked sharply during the selloff but failed to push price below ¥478,000, suggesting a lack of conviction in the downside move. Turnover spiked during key price levels, particularly near ¥485,000 and ¥478,000, highlighting high liquidity zones.

Fibonacci Retracements

On the 5-minute chart, the 61.8% retracement level sits near ¥481,000, where price appears to have found temporary support. Daily retracement levels suggest a potential rebound near ¥485,000 could test for a reversal.

Market participants may see a near-term bounce off ¥481,000–482,000, but bearish momentum could reemerge if volume dries up on the upside. Investors should remain cautious of further test of ¥478,000 in the next 24 hours.