Market Overview for Ethereum/Yen (ETHJPY)

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Sunday, Jan 4, 2026 10:22 am ET1min read
ETH
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Aime RobotAime Summary

- ETHJPY surged past 490,000 Yen with bullish engulfing patterns and a 5% overnight rally on 50,000 ETH volume spikes.

- RSI hit 68 (overbought) with bearish divergence, while Bollinger Bands expanded amid heightened volatility.

- Key support at 490,450/489,100 Yen and resistance near 492,000 Yen identified, with golden cross reinforcing bullish bias.

- Institutional buying pressure evident during breakout, but overbought conditions and divergences suggest caution ahead.

Summary
• Price surged past 490,000 Yen before consolidating near 490,700, forming bullish engulfing and bearish harami patterns.
• Volume spiked above 50,000 ETH in the overnight session, coinciding with a sharp 5% move higher.
• RSI reached 68, indicating potential overbought conditions, though divergences suggest caution.
• Bollinger Bands expanded, showing increased volatility; price remains within the channel.
• Fibonacci retracement levels at 490,450 and 489,100 are key for near-term support.

Ethereum/Yen (ETHJPY) opened at 485,157 Yen on 2026-01-03 12:00 ET and closed at 490,761 Yen on 2026-01-04 12:00 ET. The 24-hour high was 494,344 Yen, and the low was 484,647 Yen. Total volume traded was approximately 1,329.58 ETH, with a notional turnover of roughly 639,000,000 Yen.

Structure & Formations


Price action showed strong bullish momentum in the 21:30–23:00 ET period, marked by a large bullish engulfing pattern and a decisive break above a prior resistance level at 489,000. A bearish harami near 491,000 suggested a possible pullback. Key support levels are forming at 490,450 and 489,100 Yen, with resistance expected near 492,000.

Moving Averages


On the 5-minute chart, the 20-period MA crossed above the 50-period MA, forming a bullish “golden cross.” The daily chart shows the 50-period MA rising above the 200-period MA, reinforcing the longer-term bullish bias.

Momentum and Volatility


The RSI reached 68 at 06:00 ET, entering overbought territory, though a bearish divergence formed by 09:00 as price continued higher but RSI declined. Bollinger Bands expanded significantly during the overnight surge, indicating heightened volatility. Price remains within the upper 2σ band, suggesting continuation potential but with increased risk.

Volume and Turnover


Volume spiked to 102.0 ETH at 00:15 ET, coinciding with a sharp 2.5% upward move. Turnover also surged, reaching 50 million Yen during that interval. Volume remained elevated through 06:30 ET before tapering off. Price and volume aligned well during the breakout, suggesting strong institutional buying pressure.

Forward Outlook and Risk


The market appears to have built a strong base above 490,000, with momentum indicators suggesting a potential pullback. A break above 492,000 could trigger a test of 494,000, but overbought conditions and bearish divergence imply caution. Investors should watch for a potential reversal near 490,450 and consider tightening stop-losses in the next 24 hours.