Market Overview for Solana/Yen (SOLJPY) on 2025-12-15

Summary
• A strong bullish reversal formed around 20,500 after a sharp drop below 20,200.
• RSI reached oversold levels near 28, suggesting potential rebound momentum.
• Volume surged during the rebound, confirming the price action.
• Bollinger Bands show a recent expansion, indicating heightened volatility.
• Price may test 20,650–20,700 as the next resistance cluster.

Market Overview

Solana/Yen (SOLJPY) opened at 20,445 on 2025-12-14 at 12:00 ET, surged to a high of 20,769, fell to a low of 19,958, and closed at 20,520 on 2025-12-15 at 12:00 ET. Total volume amounted to 5,049.17, with a notional turnover of approximately 103,193,743.

Price Structure and Key Levels

The price action displayed a clear two-legged swing structure, with a bearish breakdown below 20,200 followed by a sharp bullish bounce. A bullish engulfing pattern formed at 20,500, suggesting short-term reversal. Key support levels emerged at 20,200 and 20,100, while 20,600–20,700 acted as immediate resistance.

Trend and Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages crossed below the price early in the session, confirming the initial bearish bias. However, the 50-period MA has since turned upward, aligning with the recent bullish rebound. The 200-period MA remains above the price, indicating a medium-term bearish bias.

Momentum and Volatility

The RSI dipped into oversold territory (28) during the low at 19,958, which coincided with a significant price-volume divergence. This suggests potential short-term buying pressure. The MACD turned positive after the 20,500 rebound, reinforcing bullish momentum. Volatility increased sharply following the breakdown and rebound, as reflected in a wide Bollinger Band expansion.

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Volume and Turnover Dynamics

Volume spiked during the bearish leg, especially around 20,200, and again on the bullish rebound near 20,500. Notional turnover was highest during the 23:45 candle, when the price dropped from 20,202 to 20,243. The volume and price action were well aligned, showing strong conviction on both the breakdown and the bounce.

Fibonacci Retracements

Fibonacci levels on the 5-minute chart showed 61.8% retracement near 20,500–20,550, where a key bullish reversal occurred. On the daily chart, the 38.2% retracement level around 20,650 is likely to act as a near-term resistance.

SOLJPY appears to be consolidating after a volatile 24-hour period, with a possible test of the 20,600–20,700 resistance ahead. Traders should remain cautious of potential pullbacks, particularly if volume fails to confirm further bullish moves.