Market Overview: Shiba Inu/Yen (SHIBJPY) - 24-Hour Analysis

• SHIBJPY rose to a 24-hour high of ¥0.001829 amid increased volume and momentum.
• A bearish divergence in RSI and declining turnover in the afternoon signal caution.
• Key resistance appears near ¥0.001825, with support at ¥0.001805–¥0.001803.
• Volatility expanded during the morning Asian session before stabilizing.
• Volume surged to ¥349.6M in one 15-minute candle, highlighting institutional activity.

At 12:00 ET on September 5, 2025, SHIBJPY opened at ¥0.001796, reached a high of ¥0.001833, and closed at ¥0.001819. The 24-hour period saw total volume of 930,385,212 SHIB and a notional turnover of ¥848.1M. Price action unfolded across a volatile range, with sharp intraday swings and mixed momentum signals, suggesting a tug-of-war between bullish and bearish participants.

Structure & Formations

The candlestick structure reveals a morning rally with a strong bullish engulfing pattern from ¥0.001806 to ¥0.001833 on high-volume trading. However, the formation was followed by a consolidation phase and a bearish inside bar at ¥0.001819, indicating indecision. Key support levels include ¥0.001805 and ¥0.001803, with ¥0.001799 acting as a secondary floor. Resistance is clustered around ¥0.001825–0.001828, where price stalled on multiple occasions.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA early in the morning, signaling short-term bullish momentum. By late afternoon, the 50-period MA caught up, reducing the crossover signal’s strength. On the daily chart, the 50-period MA sits at ¥0.001804, with the 200-period MA at ¥0.001801, suggesting SHIBJPY is trading above both, a mixed signal for intermediate-term buyers.

MACD & RSI

MACD showed bullish divergence early in the session, peaking at 0.000020 before turning bearish. RSI hit overbought territory (70+) around ¥0.001833 but failed to sustain, dropping back toward 60 by the close. This bearish divergence hints at potential near-term profit-taking or a correction to ¥0.001810–¥0.001805. The RSI’s inability to close above 65 suggests fading bullish momentum.

Backtest Hypothesis

Given the observed bullish engulfing pattern and initial bullish divergence in the MACD, a backtest strategy could be constructed to enter long at the close of the bullish engulfing candle at ¥0.001806 with a stop-loss at ¥0.001801. A target could be set at ¥0.001828, the next key resistance level. This setup would aim to capture both the continuation of bullish momentum and the initial breakout, leveraging the strong volume print during the morning rally. A 15-minute time frame aligns well with the entry and exit signals, ensuring responsiveness to intraday volatility and volume spikes.