Market Overview for Shiba Inu/Yen (SHIBJPY) – 2025-10-10

• SHIBJPY opened at 0.001825 and closed at 0.001843, forming a bullish reversal on the daily timeframe.
• Price pushed to a 24-hour high of 0.001856, with a 3.7% gain from the low at 0.001841.
• Volume surged during late-night hours, confirming strength in the break above 0.001842.
• RSI reached 60, indicating moderate momentum but not overbought conditions.
• Bollinger Bands expanded, reflecting increased volatility in the final 8 hours of the day.

Shiba Inu/Yen (SHIBJPY) opened at 0.001825 at 12:00 ET−1 and closed at 0.001843 at 12:00 ET on 2025-10-10. The pair traded between 0.001811 and 0.001856, reflecting a 1.5% upward bias. Total volume across the 24-hour period reached 6.94 billion SHIB, while notional turnover amounted to approximately 12.7 million Yen.

The 15-minute chart reveals a strong rally from 03:00 to 05:00 ET, where SHIBJPY surged from 0.001826 to a high of 0.001856. This was supported by increasing volume and confirmed by a bullish engulfing pattern forming at 03:30–03:45 ET. Price action suggests that the short-term bearish sentiment seen earlier in the day has reversed, with 0.001842 acting as a critical support-turned-resistance level. A key resistance now sits at 0.001856, with a potential pullback to test 0.001842 anticipated in the next 24 hours.

On the 20 and 50-period moving averages, price has moved decisively above both lines, signaling a strong short-term bullish bias. MACD crossed above zero during the late-night rally, while RSI reached 60 at 04:15 ET, indicating moderate momentum without overbought conditions. Bollinger Bands widened significantly during the rally, reflecting heightened volatility and reinforcing the idea that the market is reacting to new information or sentiment.

The price appears to have formed a double-bottom pattern around 0.001841–0.001842, with the first touch at 03:15 ET and confirmation at 06:00 ET. Fibonacci retracement levels from the 0.001811 to 0.001856 move show that 0.001844 aligns with the 50% level, suggesting potential consolidation in this region. Divergence between volume and price was observed at 06:45 ET, where volume dropped despite a modest price increase, raising questions about the sustainability of the rally.

Backtest Hypothesis
A potential short-term trading strategy involves entering long at the close of a bullish engulfing pattern confirmed by a breakout above 0.001842 and a close above the 50-period moving average. Stops could be placed below the 0.001835 support, with a target at 0.001856–0.001860. A backtest over the past 30 days using this setup may reveal whether the 0.001842–0.001856 range is structurally strong enough to justify entering long with a clear risk-to-reward ratio of 1:1.5 or higher.