Market Overview for Livepeer/Tether (LPTUSDT)

• LPTUSDT declined sharply overnight, breaking key support levels and reaching a 24-hour low of $6.0.
• Momentum accelerated lower after 06:15 ET with a massive 151,000-volume candle.
• Volatility expanded dramatically, with price dropping ~12% in under 90 minutes.
• RSI and MACD confirmed bearish momentum, with RSI hitting oversold territory.
• A large-volume breakdown below 6.337 may suggest further weakness is likely.

LPTUSDT opened at $6.765 at 12:00 ET - 1 on 2025-09-21 and closed at $6.236 at 12:00 ET on 2025-09-22. The pair reached a high of $6.795 and a low of $6.0 during the 24-hour period. Total traded volume was approximately 383,880 and total turnover was $2,290,550.

The 15-minute chart reveals a sharp bearish breakdown after 06:15 ET as the price gapped below the 6.337 support level. This coincided with a massive 151,000-volume candle and a 6.344–6.0 drop in under 90 minutes. A key bearish engulfing pattern confirmed the breakdown, suggesting increased bearish conviction. The price tested multiple lower time-frame support levels without meaningful rejection, indicating weak short-term sentiment.

Structure & Formations

The chart shows a clear bearish bias with a breakdown below key support at 6.337, followed by further weakness into 6.0. The 6.237–6.321 range has acted as a short-term resistance cluster after the breakdown, but so far, price has not managed to retest it with bullish conviction. A notable bearish engulfing pattern appeared around the 06:15 ET candle, confirming the shift in sentiment. Doji are minimal, but the formation of long lower shadows in the 09:00–11:45 ET period may hint at some minor buying interest.

Moving Averages

On the 15-minute chart, the price has traded well below both the 20 and 50-period moving averages, indicating strong bearish momentum. On the daily chart, the 50-period MA appears to have acted as a resistance, with the price breaking below it during the overnight session. The 100- and 200-period MAs are likely to offer further resistance if the price attempts to retrace, but given the strength of the breakdown, this is unlikely in the near term.

MACD & RSI

The RSI has dipped into oversold territory, currently around 26, which may hint at a possible near-term bounce. However, without a corresponding bullish reversal in volume or candlestick patterns, this may be a false signal. The MACD has been deeply negative for most of the last 24 hours, confirming bearish momentum. The histogram has shown a steady decline, indicating that the bearish move may not be nearing its end yet.

Bollinger Bands

Volatility expanded dramatically during the breakdown session, with the Bollinger Bands widening significantly. The price has traded well below the lower band since 06:15 ET, reinforcing the bearish bias. The current volatility level is elevated compared to the 24-hour average, and a contraction in band width may be needed for a potential reversal setup.

Volume & Turnover

Volume spiked dramatically around 06:15 ET, with the 6.344–6.0 move driven by a massive 151,000-volume candle. This was the largest single candle in turnover, accounting for over 6.5% of the 24-hour total. Despite the significant volume, price did not show any signs of rejection or rejection attempts, indicating that sellers were in control. The low-to-close alignment suggests that bearish exhaustion may still be a ways off.

Fibonacci Retracements

Applying Fibonacci to the major 6.795–6.0 swing, the 61.8% level is at ~6.137, which may act as a critical support. The 38.2% level is at ~6.367 and may offer some temporary resistance if the price tries to bounce. On the 15-minute chart, the most recent swing high at 6.295 and low at 6.198 suggests that 6.244 may act as a short-term pivot.

Backtest Hypothesis

The backtest strategy involves entering short positions on a breakdown below the 15-minute 50-period moving average, confirmed by a bearish engulfing pattern and volume expansion. Targets are set at 61.8% and 78.6% Fibonacci levels, while stops are placed just above the nearest resistance or 1.5x ATR. Given the recent breakdown and confirmation from both candlestick and volume data, this strategy would have triggered a short entry around 06:15 ET. The current price aligns with the 61.8% Fibonacci target, suggesting the strategy could have captured the majority of the move.