Market Overview: Solana/Yen (SOLJPY) 24-Hour Summary as of 2025-11-10

Summary
• Price opened at ¥24,961 and surged to ¥26,054, with a final close at ¥25,980.
• Strong volume of ¥3,708.5K indicates active participation and bullish momentum.
• Key resistance levels appear around ¥25,950–26,050 after a sharp rally in the last 4 hours.
• RSI shows overbought conditions; volatility remains elevated.

Solana/Yen (SOLJPY) opened at ¥24,961 at 12:00 ET–1 and surged to a high of ¥26,054 by 04:15 ET, closing at ¥25,980. Over the 24-hour period, trading volume reached ¥3,708.5K, with notable volatility and a 5.3% price gain. The pair exhibited strong bullish momentum, especially from 19:00–04:30 ET.

Structure & Formations

SOLJPY displayed a clear bullish trend over the 24-hour period, forming a strong ascending channel from ¥24,961 to ¥26,054. Several large bullish bodies and a morning star pattern appeared after a key pullback to ¥25,300, suggesting a potential continuation of the rally. A doji at ¥25,339 (21:45 ET) and a bullish engulfing pattern at ¥25,339–25,453 hinted at short-term consolidation and a likely resumption of the upward trend.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were in bullish alignment, with the 20-period line rising sharply to ¥25,650 and the 50-period at ¥25,490 as of 05:30 ET. The daily moving averages (50/100/200) were also trending higher, suggesting the upward momentum is supported across multiple timeframes.

MACD & RSI

The 15-minute MACD crossed above the zero line in the late hours, confirming bullish momentum. RSI reached overbought territory (75–80) near ¥26,054, indicating potential for a near-term correction or consolidation. However, sustained buying pressure may delay a meaningful pullback.

Bollinger Bands

Volatility remained elevated, with the 20-period Bollinger Bands widening significantly after 19:00 ET. Price remained near the upper band for the final 6 hours, suggesting continuation of the upward move. A contraction in the bands is not yet evident, indicating ongoing aggressive trading.

Volume & Turnover

Trading volume spiked significantly during the late-night session (after 00:00 ET) and early morning, particularly between 03:00 and 04:30 ET, during the rally to ¥26,054. Turnover aligned with these price moves, showing no signs of divergence. The volume profile suggests strong institutional or high-volume retail participation.

Fibonacci Retracements

On the 15-minute chart, the key 61.8% Fibonacci retracement level at ¥25,453 was tested and held, before a breakout. On the daily timeframe, the 38.2% level at ¥25,680 may now serve as support. The 23.6% level at ¥25,825 appears to be a minor resistance ahead of the 61.8% at ¥25,950.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions on bullish engulfing patterns or morning stars, confirmed by a close above the 20-period moving average and rising volume. A stop-loss could be placed below a key Fibonacci support or a recent swing low. Given the recent overbought RSI and rising volatility, a trailing stop or profit-taking at the upper Bollinger Band may be effective for risk management.