Livepeer/Yen (LPTJPY) Market Overview

Summary
• Price surged from 842.4 to 884.0 before correcting sharply to 841.4.
• Strong momentum seen in early session, followed by a bearish reversal into the overnight.
• Volume spiked during key reversals, suggesting active participation and sentiment shifts.
• RSI and MACD indicate overbought/oversold extremes, with divergence risks.
• 866.0 and 870.8 levels acted as both support and resistance across the 24-hour period.

The 24-hour session for Livepeer/Yen (LPTJPY) opened at 842.4 on 2025-11-07 at 12:00 ET and closed at 855.5 on 2025-11-08 at 12:00 ET. The pair reached a high of 884.0 and a low of 837.3 during the period. Total volume was 7,294.98 units, with notional turnover amounting to 6,192,998.03 Yen.

Structure and formations on the 15-minute chart revealed a strong bullish engulfing pattern early in the session, particularly at 17:30–18:15 ET, which pushed LPTJPY above 860. However, a bearish reversal emerged after 21:30 ET, where a long upper wick and bearish close confirmed selling pressure. Notable patterns include a morning star at 22:30 ET and a shooting star at 06:30 ET, suggesting potential exhaustion of both bullish and bearish momentum. Key support levels formed at 866.0 and 847.1, while resistance levels emerged at 872.1 and 882.8.

The 20-period moving average (20SMA) on the 15-minute chart crossed above the 50SMA, suggesting a short-term bullish bias early in the session. However, by the overnight hours, the 50SMA began to cross below the 20SMA, indicating a potential reversal. On the daily chart, the 50DMA (2025-11-08) sits above the 100DMA and 200DMA, maintaining a medium-term bullish structure, though a pullback appears imminent.

MACD lines showed a bullish crossover during the afternoon hours, but by the late overnight, the histogram began to narrow, signaling weakening momentum. The RSI reached overbought territory (above 70) at 18:30 ET and later dipped into oversold territory (below 30) at 05:45 ET, suggesting sharp volatility and potential exhaustion. A divergence between price and RSI appeared in the overnight hours, with price declining while RSI bottomed, hinting at a potential bounce.

Bollinger Bands showed a significant expansion during the afternoon, followed by a contraction overnight, a classic setup for a potential breakout. Price remained in the upper band during the early session but drifted into the lower band by the close, indicating increased volatility and a potential mean reversion scenario.

Volume and turnover were closely aligned throughout the session, with the most significant spikes observed during the 19:30–20:00 ET and 03:30–04:00 ET periods. During these times, price experienced sharp corrections and reversals. Notably, the large volume at 19:30 ET coincided with a strong bullish reversal, while the low-volume correction at 04:30 ET hinted at weak follow-through from buyers.

Fibonacci retracement levels applied to the 17:30–20:30 ET swing showed the 50% level at 867.4, which held as a minor support level. The 61.8% retracement at 866.0 also acted as a significant support, halting the overnight decline. For the daily chart, the 38.2% retracement of the recent downswing is at 864.0, and the 61.8% at 853.5, both of which are now being tested.

Backtest Hypothesis
Using the identified candlestick patterns, such as the bullish engulfing and morning star, as entry triggers could provide a viable short-term trading strategy. If a long position is initiated on a bullish engulfing pattern and closed upon a bearish divergence in RSI, a mean reversion or trend-following approach can be tested. A fixed stop-loss at the 61.8% Fibonacci level (853.5) and a take-profit at the 38.2% (864.0) could structure this strategy effectively. Using daily “close” prices and including the period from 2022-01-01 to 2025-11-08, this backtest may reveal whether these setups are profitable under current volatility conditions.