Market Overview for Solana/Yen (SOLJPY) on 2026-01-04

Summary
• Price surged above ¥21,000 on strong volume, forming bullish continuation patterns near ¥20,900–21,000.
• RSI approached overbought territory while MACD showed positive divergence, signaling sustained upward momentum.
• Volatility expanded after ¥20,550 support held, with Bollinger Bands widening in late-day trading.
• Notional turnover spiked 30% in the final 4 hours, aligning with price advances and indicating institutional accumulation.
• A 61.8% Fibonacci retracement aligned with ¥20,950, offering a near-term pivot if bulls consolidate.

Market Overview

At 12:00 ET–1 on January 3, Solana/Yen (SOLJPY) opened at ¥20,570 and traded to a high of ¥21,144 before closing at ¥21,016 at 12:00 ET on January 4. The pair reached a low of ¥20,500 and recorded total volume of 2,153.63 SOL and notional turnover of ¥44,201,323.37 over 24 hours.

Structure and Key Levels

The price action showed a clear bullish breakout from a descending wedge formation on the 5-minute chart, with a decisive close above ¥21,000. A 61.8% Fibonacci retracement from the ¥20,500 to ¥21,144 range aligned near ¥20,950, which acted as a dynamic support during consolidation phases. The ¥20,550 level held as a key psychological support, preventing a retest of ¥20,500.

Technical Indicators

The 20-period and 50-period moving averages on the 5-minute chart crossed into bullish territory, supporting the recent rally. The RSI edged near 70 in the final 2 hours of the window, suggesting overbought conditions but without a bearish divergence. MACD lines remained positive, with the histogram expanding during late-day volume surges. Bollinger Bands saw significant expansion, especially between 00:00–05:00 ET, indicating a rise in volatility following consolidation.

Volume and Turnover

Volume and turnover were positively aligned, with the largest single 5-minute bar (597.569 SOL) at 06:00 ET coinciding with a ¥21,015 close. This marked the largest single notional turnover of ¥12,548,864.97 for the period. Volume showed a 30% increase in the final 4 hours of the 24-hour window, suggesting strong accumulation ahead of the closing price.

Forward-Looking Outlook

The price appears to be in a consolidation phase above ¥21,000, with potential for a test of ¥21,200 as the next psychological level. However, a pullback to the ¥20,950 Fibonacci level could trigger a retest of ¥20,900 as a key intermediate support. Investors should remain cautious, as divergence in RSI and tightening volatility could signal a near-term pause in the bullish momentum.