Livepeer/Yen Market Overview: 24-Hour Price Analysis

• LPTJPY formed a bullish engulfing pattern near 988.0, hinting at short-term buying interest.
• Volatility expanded during the 17:30–18:00 ET surge, pushing price to a 24-hour high of 1000.0.
• RSI moved into overbought territory near 70, suggesting a potential pullback.
• Volume surged at 19:45 ET, coinciding with a bearish reversal to 995.0.
• A key support level emerged at 990.0, with price rebounding multiple times.

LPTJPY opened at 988.5 on 2025-09-16 12:00 ET and closed at 996.1 on 2025-09-17 12:00 ET, hitting a high of 1006.2 and a low of 987.6. The 24-hour trading volume was 9,764.86 units, with a notional turnover of ¥9,804,708. The price action showed clear signs of consolidation followed by a sharp intraday reversal.

Structure & Formations

Price action over the 24 hours revealed a key bullish engulfing pattern at 988.0–990.7 in the early afternoon, followed by a strong bearish reversal at 19:45 ET, which pushed price down from 997.2 to 995.0. A doji formed at 20:30–20:45 ET near 1000.0, signaling indecision. A key support zone emerged between 990.0 and 992.0, where the price bounced three times. Resistance levels appear at 998.0–1000.0 and 1003.0–1005.0, where trading activity showed hesitation.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart intersected around 992.0–994.0, suggesting a potential trend reversal. The 50-period MA remained below the 100-period MA, reinforcing a bearish bias in the daily chart. The 200-period MA, at 995.0, acted as a dynamic support zone, with price failing to close above it multiple times.

MACD & RSI

The MACD crossed above the signal line at 20:00–20:15 ET, indicating a bullish momentum shift, but diverged by 22:00 ET. RSI reached overbought territory around 1000.0, peaking at 72 before declining back into neutral territory. This suggests that the bullish momentum may have exhausted itself.

Bollinger Bands

Volatility expanded significantly from 17:30–18:30 ET, pushing price near the upper band at 1000.0. Price then retracted and traded within a contracting band from 20:30–02:00 ET, indicating a period of consolidation. By 08:00 ET, volatility increased again, pushing price near the upper band once more, suggesting potential continuation of the upward bias if the band is breached.

Volume & Turnover

Volume spiked at 19:45 ET (646.34 units) and again at 05:30 ET (283.23 units), both coinciding with price reversals. Notional turnover was highest at 05:30 ET (¥280,676.01), indicating strong participation during a bearish move. A divergence between price and volume was observed in the last 4 hours, where price moved lower but volume remained muted—suggesting potential exhaustion of bearish sentiment.

Fibonacci Retracements

On the 15-minute chart, a key 61.8% Fibonacci retracement level was formed at 993.8 during the 20:30–22:00 ET pullback. On the daily chart, a 50% retracement level at 996.5 became a key resistance after the 12:00–14:00 ET bearish correction. Price failed to break above 61.8% (1003.0) but held above 38.2% (997.5), suggesting a potential test of those levels.

Backtest Hypothesis

Using the observed 15-minute candlestick patterns and RSI overbought signals, a backtest strategy could be constructed to enter short positions when RSI exceeds 70 and a bearish reversal candle (e.g., doji or hanging man) forms. Stop-loss could be placed above the upper Bollinger Band, with take-profit aligned with the 61.8% Fibonacci retracement level. This approach would aim to capture overbought momentum reversals with defined risk parameters. Given the strong RSI divergence and bearish volume patterns observed, this strategy could have yielded positive returns in the current 24-hour window.