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Summary
• Price tested key support at 17.81 before rebounding, forming bullish reversal cues near 17.82.
• Volatility surged as price moved between 17.67 and 18.40, with high-volume swings around 18.36.
• RSI indicated overbought conditions during the rally, while MACD showed fading momentum in the final hours.
Sei/Yen (SEIJPY) opened at 17.81 on December 28, reached a high of 18.40, dipped to a low of 17.67, and closed at 17.81 on December 29. Total trading volume over 24 hours was 513,703.0 units, with a notional turnover of 8,869,376.35 JPY.
Structure & Formations
Price encountered a critical support level at 17.81, where a bullish reversal pattern emerged with a hammer-like structure. A strong bearish engulfing pattern was visible at the 18.36 level, indicating resistance. The formation of a doji near 18.13 suggests indecision, potentially signaling a short-term pause in the rally.
Moving Averages
On the 5-minute chart, the price closed below both the 20-period and 50-period moving averages, suggesting downward bias for near-term price action. On the daily chart, the 50-period MA at 18.06 acted as a dynamic resistance, while the 200-period MA at 17.78 provided a baseline support.
MACD & RSI
The MACD line turned negative in the final hours, confirming weakening momentum despite a brief rally. The RSI peaked at overbought levels above 70 during the 18.36 high and dropped into neutral territory by the close, signaling possible exhaustion in the rally.
Bollinger Bands
Volatility expanded significantly as price hit the upper Bollinger Band at 18.36, followed by a sharp retraction toward the lower band at 17.81. The price closed near the middle band, which may serve as a pivot for short-term direction.
Volume & Turnover
Trading volume surged to over 49,000 units during the 18.36 high, confirming the move higher. However, turnover failed to match the volume levels in the following hour, indicating potential divergence. The final sell-off from 18.23 to 17.81 was accompanied by high volume, reinforcing bearish sentiment.
Fibonacci Retracements
The pullback from 18.40 found initial support at the 61.8% level around 18.03 before continuing lower. On the 5-minute chart, the 38.2% retracement at 18.28 served as a key resistance area that price failed to breach multiple times.
Looking ahead, Sei/Yen may test the 17.67 level for further support or retest the 18.03–18.06 range for potential rebound. Traders should be cautious of renewed volatility and potential divergence between price and volume in the next 24 hours.
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