Market Overview for Solana/Yen (SOLJPY) as of 2025-09-10 12:00 ET

• SOLJPY opened at ¥31,290, surged to a high of ¥33,195, and closed at ¥32,896, with volume rising to 5,574.38.
• A bullish breakout above ¥32,000 was confirmed with strong momentum on the 15-minute chart.
• RSI and MACD signaled overbought conditions, suggesting possible consolidation.
• Volatility increased with expanding Bollinger Bands, reflecting aggressive buying.
• Turnover spiked during the final 3 hours of the 24-hour window, aligning with price strength.

Solana/Yen (SOLJPY) opened at ¥31,290 at 2025-09-09 12:00 ET, climbed to a high of ¥33,195, and closed at ¥32,896 as of 2025-09-10 12:00 ET. Total 24-hour volume was 5,574.38, and notional turnover reached ¥181,964,850. The pair showed a strong bear-to-bull shift, marked by a powerful move above ¥32,000 and consolidation in the final hours.

Structure & Formations

The 24-hour period featured multiple key support and resistance levels. A critical support level formed near ¥31,700, where the price bounced several times. On the upper side, ¥32,000 acted as a breakout level, followed by a sharp rally to ¥33,195. The final hours showed bearish pressure with a candle closing near ¥32,896 after a strong session high. Notable patterns included a bullish engulfing formation on the ¥32,000 breakout and a long lower shadow candle at the session close, indicating buyers stepping in after selling pressure.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages showed a strong bullish crossover late in the session, aligning with the price surge above ¥32,000. The 50-period line acted as a dynamic support. On the daily timeframe (inferred), the 50-period MA likely acted as a key psychological level, with the 100-period and 200-period lines providing longer-term reference points. The price closing above all three suggests a potential continuation of the upward trend.

MACD & RSI

The MACD crossed above the signal line during the breakout, indicating strong bullish momentum. RSI peaked above 70, signaling overbought conditions, though without a corresponding bearish reversal pattern, suggesting the momentum could persist. The RSI divergence with price in the final hour hinted at potential near-term volatility or a pullback. Traders should watch for a close below 61.8% Fibonacci level as a potential entry trigger for short positions.

Bollinger Bands

Volatility surged during the late hours of the session, reflected by expanding Bollinger Bands. The price closed near the upper band, confirming the strength of the breakout. Earlier in the day, a period of contraction near ¥31,800 preceded the breakout, indicating a potential turning point. With the bands now wide, a retest of the upper band could confirm the breakout or trigger a reversion.

Volume & Turnover

Volume and turnover spiked during the final 3 hours, especially around ¥33,000–¥33,195. The total notional value of trades surged to ¥181,964,850, driven by heavy buying pressure. No significant divergence was observed between price and volume, suggesting strong conviction behind the move. The high-volume candle at ¥33,000–¥33,195 acted as a confirmation of the breakout.

Fibonacci Retracements

Applying Fibonacci to the key 15-minute swing from ¥31,700 to ¥33,195, the 61.8% level is at ¥32,530, and the 38.2% level is at ¥32,850. The price closed near ¥32,896, indicating a potential short-term consolidation target around these levels. On the daily timeframe, a retest of the ¥31,700 level would suggest a deeper correction, aligning with the 61.8% retracement of the broader trend.

Backtest Hypothesis

A potential backtesting strategy involves entering long positions after a bullish breakout above a key moving average, confirmed by a surge in volume and RSI crossing above 50. The exit would occur when RSI crosses below 50 or when the price retests the breakout level. Given the strong move above ¥32,000 and the confirmation by MACD and volume, this approach could have captured a significant portion of the upward move during the 24-hour period. Traders may want to backtest this method on prior 24-hour windows to assess consistency and risk-reward ratios.