Market Overview for Shiba Inu/Yen (SHIBJPY)

• SHIBJPY traded in a tight range with a 24-hour high of 0.001581 and a low of 0.001543, closing near the mid-range.
• Volatility dipped in the final hours, with price consolidating around 0.00157.
• Volume picked up during midday (ET) with strong buying interest, but diverged from price in the final 6 hours.
• No clear bullish or bearish candlestick patterns formed, but a bearish divergence in volume suggests caution.
• The market appears range-bound, with key support and resistance levels within 0.001565–0.001575.

24-Hour Performance

Shiba Inu/Yen (SHIBJPY) opened at 0.001559 on November 1, 2025 (12:00 ET–1) and traded as high as 0.001581 before closing at 0.001576 on November 2, 2025 (12:00 ET). Over the 24-hour period, the pair saw total trading volume of approximately 1.82 billion SHIB and a notional turnover of roughly $2,765,000 (based on average rate). Price remained in a tight range, with no decisive breakouts or breakdowns.

Structure & Formations

The 15-minute OHLCV data reveals SHIBJPY remained within a well-defined range over the past day. Key support levels were identified near 0.001565 and 0.001559, with price finding repeated bids at these levels. On the resistance side, 0.001573–0.001575 acted as a ceiling for several hours. Notably, no bullish engulfing or bearish harami patterns formed, though a doji appeared near 0.00157 at 19:45 ET, suggesting indecision in price direction.

Engulfing and Doji Patterns

A small bearish engulfing pattern occurred at 17:15 ET, with price closing below the prior candle’s body, but this was quickly negated by buying pressure. A doji at 19:45 ET highlighted a moment of equilibrium, with bulls and bears unable to push the price meaningfully in either direction.

Technical Indicators

The 20-period and 50-period moving averages on the 15-minute chart remained in a tight alignment near 0.00157, indicating a neutral bias. The 50-period MA crossed the 100- and 200-period MAs on the daily chart, suggesting a potential consolidation phase. The MACD histogram showed little divergence, with momentum hovering near zero throughout the 24-hour period. RSI values remained between 45 and 55, indicating neither overbought nor oversold conditions.

Bollinger Bands and Volatility

Price action stayed within the Bollinger Bands for most of the session, with the upper band reaching 0.001581 and the lower band near 0.001563. A slight contraction in the width of the bands occurred during the final hour, suggesting reduced volatility and a possible pause in directional movement.

Volume and Turnover

Volume spiked during midday, with a notable increase between 17:00–19:00 ET as buying interest pushed price toward 0.001578. However, in the final 6 hours, price drifted downward while volume remained low, creating a bearish divergence. This suggests potential exhaustion in bullish momentum.

Fibonacci Retracements

Applying Fibonacci levels to the 15-minute swing from 0.001559 to 0.001581, the 38.2% retrace level (~0.001566) provided support early in the session. The 61.8% level (~0.001573) acted as resistance later on. These levels may continue to influence price action in the coming hours.

Forward-Looking View and Risk Caveat

The market appears to be in a period of consolidation, with price unlikely to break out of the 0.001565–0.001575 range without a significant catalyst. The lack of clear momentum and low volume at the close suggest traders may be waiting for new information or news. Investors should monitor the 0.001573 level for a possible breakout, as this could signal a shift in direction. However, volatility remains low, and a sudden drop or spike in volume could disrupt the current equilibrium.

Backtest Hypothesis

To refine the trading strategy, a robust technical backtest is essential. Due to the absence of a 14-day RSI series for SHIBJPY, a practical alternative is to use a supported symbol such as SHIB-USD or SHIBUSDT and convert the returns to JPY manually using the prevailing exchange rate. This approach not only allows for accurate momentum analysis but also ensures that the strategy can be reliably backtested. Once the RSI is calculated, it can be integrated with other indicators like MACD and Fibonacci retracement levels to identify overbought and oversold zones, as well as key support and resistance levels, to refine entry and exit points for the strategy.