Market Overview for SHIBJPY on 2025-10-24

• SHIBJPY traded in a tight range, with a high of 0.001575 and a low of 0.001529, closing at 0.001553
• Price action remains range-bound, with no strong directional momentum
• Volatility expanded briefly after 05:00 ET, but reversed into consolidation
• Notional turnover reached $185.7M, with volume concentrated in 15–06:00 ET
• A large bullish candle at 04:45 ET failed to hold, hinting at bearish pressure

24-Hour Summary & Price Context

Shiba Inu/Yen (SHIBJPY) opened at 0.001540 at 12:00 ET–1 and closed at 0.001553 at 12:00 ET, with a high of 0.001575 and a low of 0.001529. Total traded volume was 1.22 billion SHIB, and notional turnover reached approximately $185.7 million. The pair remains in a sideways consolidation pattern, with limited directionality and no clear breakout attempt.

Structure & Candlestick Formations

The 24-hour chart features a small bullish body at 04:45 ET, followed by a sharp reversal into a bearish candle at 05:00 ET. This suggests a rejection of higher prices. Several doji and spinning top candles between 21:00 and 06:00 ET indicate indecision. Key support levels include 0.001544 and 0.001534, while resistance is near 0.001552 and 0.001561. A potential bullish engulfing pattern formed briefly at 04:45–05:00 ET but was swiftly negated.

Moving Averages and MACD

Short-term moving averages (20/50) on the 15-min chart suggest a neutral stance, with the price hovering near the 20-period line. The MACD line remains close to zero, with no strong bullish or bearish divergence. The histogram shows minor fluctuations but no sustained momentum. On the daily chart, the 50-period MA sits below the 200-period MA, indicating a bearish bias over the longer term.

RSI and Bollinger Bands

Relative Strength Index (RSI) oscillates between 55 and 60, with no overbought or oversold conditions observed. Price remains within the Bollinger Bands, with volatility expanding slightly after 05:00 ET and then collapsing again by 06:30 ET. This suggests a temporary spike in activity but lacks follow-through.

Volume and Turnover Analysis

Volume spiked significantly during the 04:45–05:00 ET window, with over 32.5 million SHIB traded. This coincided with the bullish candle at 04:45 ET, but the following candle saw weaker volume despite a larger move. The divergence suggests that the buying pressure may be running out of steam. Turnover remained high during the 04:00–06:00 ET window, with large volumes at 04:45 and 05:45 ET.

Fibonacci Retracements

Applying Fibonacci levels to the 04:45–05:00 ET swing (0.001563 to 0.001566), price retested the 38.2% retracement level at 0.001562, which appears to have acted as a support. The 61.8% retracement at 0.001564 failed as resistance, suggesting buyers may be exhausted at higher levels.

Forward-Looking View & Risk Considerations

SHIBJPY may remain in a consolidation phase unless a clear breakout occurs above 0.001565 or below 0.001544. Traders should monitor the 0.001552 level as a potential key pivot. However, the current low volatility and lack of strong momentum suggest a continuation of sideways movement is likely unless a catalyst emerges. Investors should remain cautious of divergence between price and volume, particularly during the 05:00–07:00 ET window.

Backtest Hypothesis

To evaluate a potential RSI-14 trading strategy for SHIBJPY, the correct exchange and ticker code are essential for accurate historical RSI data. The pair appears to trade in a range with minimal overbought/oversold signals in the 24-hour period, which may suggest that an RSI-based strategy could struggle with low signal frequency. If SHIBJPY is available on Binance or another major exchange under a specific ticker (e.g., SHIBJPY_BINANCE), a backtest using buy signals at RSI > 70 and sell at the next-day close could be implemented. Alternatively, SHIBUSDT may be used in conjunction with USDJPY to derive SHIBJPY values.