Market Overview for Ethereum/Yen (ETHJPY)

Summary
• ETHJPY broke key support at ¥523,000 after a 5-minute bearish engulfing pattern.
• RSI entered oversold territory near 30, hinting at potential near-term buying interest.
• Volatility surged with a 1.1% range between daily high and low, confirming a widening Bollinger Band.
• Volume spiked during the 5:45–6:00 ET session, coinciding with a sharp rebound near ¥525,000.
• Fibonacci retracement levels suggest a possible bounce from 61.8% at ¥523,400.

Ethereum/Yen (ETHJPY) opened at ¥527,052 on 2026-01-15 12:00 ET, surged to a high of ¥529,550, dipped to a low of ¥519,152, and closed at ¥522,824 by 12:00 ET on 2026-01-16. The 24-hour volume reached 1,034.864 metric ETH, with total notional turnover of ¥543.4 million.

Structure & Price Action

The 5-minute chart showed a bearish engulfing pattern at ¥523,678, signaling a shift in sentiment after a strong rally. The price then consolidated below ¥524,000, which acted as a dynamic resistance-turned-support. A series of lower highs and lower lows emerged after 18:00 ET, with the price failing to reclaim ¥526,000, a key psychological threshold.

Momentum and Volatility

MACD crossed below the signal line after 18:00 ET, indicating bearish momentum, while RSI dropped to oversold levels near 30 by 04:15 ET. Bollinger Bands expanded significantly during the early morning hours, reflecting heightened volatility. Price hovered near the lower band in the last 3 hours, suggesting potential for a rebound.

Volume and Turnover Insights

Volume spiked to a 24-hour high of 129.05865 metric ETH during the 04:45–05:00 ET session, as the price dropped below ¥520,000. Notional turnover during that window reached ¥67.18 million, aligning with the sharp move. Despite the high volume, price failed to sustain above ¥522,000, suggesting weak follow-through buying.

Key Levels and Fibonacci

Resistance levels to watch include ¥526,500 and ¥528,000, while support is likely to hold at ¥521,500 and ¥519,000. The 61.8% Fibonacci retracement level of the ¥529,550 to ¥519,152 swing stands at ¥523,400, which has been a key pivot point in the last 6 hours.

The market may find short-term support at ¥522,800 and could test ¥524,000 on a rebound, but a break below ¥521,500 could accelerate the decline. Investors should remain cautious, as volatility remains elevated and momentum indicators signal a fragile balance between buyers and sellers over the next 24 hours.