Livepeer/Tether (LPTUSDT) Market Overview

• LPTUSDT fell to 6.76 on 2025-09-21, a 12.8% drop from its 6.893 open.
• A bearish engulfing pattern formed at 6.917–6.871, with high volume of 1,531.0.
• RSI hit 30 at 6.76, suggesting oversold conditions.
• Volatility expanded after 20:00 ET, with Bollinger Bands widening.
• Notional turnover surged at 9:30 and 15:30 ET with sharp price declines.

The LPTUSDT pair opened at 6.888 on 2025-09-20 12:00 ET and closed at 6.77 at 12:00 ET on 2025-09-21. During the 24-hour window, the pair reached a high of 6.924 and a low of 6.724. Total volume amounted to 185,473.48, and notional turnover reached $1,272,762.22. The price action showed a sharp bearish reversal, especially after 09:30 ET.

Structure & Formations

Key support levels have formed at 6.76–6.78, with a potential bounce zone between 6.78–6.80. Resistance appears to be at 6.86–6.88 and 6.90–6.92. Notable candlestick patterns include a bearish engulfing pattern at 6.917–6.871 and a potential bullish reversal pattern near 6.813–6.841. A long-legged doji at 6.884–6.892 suggests indecision. Price appears to be consolidating near 6.76, but a break below this could signal further weakness.

Moving Averages

On the 15-minute chart, the 20-period MA and 50-period MA crossed below 6.86–6.88, indicating bearish momentum. On the daily chart, the 50-period MA is at 6.89, while the 100 and 200-period MAs are at 6.90 and 6.91, respectively. Price remains below all of them, reinforcing the bearish bias.

MACD & RSI

The MACD has remained in negative territory for most of the 24-hour period, with a bearish crossover at 08:30 ET. RSI dropped to 30 near 6.76, indicating oversold conditions, though this may not trigger a strong bounce without volume confirmation. Momentum appears to be slowing, and a divergence between RSI and price is emerging, particularly after 08:30 and 15:00 ET.

Bollinger Bands

Bollinger Bands expanded after 20:00 ET as volatility increased, with price staying near the lower band for most of the session. A potential contraction is forming near 6.76–6.78, suggesting a possible reversal if volume picks up. The upper band remains at 6.90–6.92, and the lower band is at 6.76–6.78, forming a key range.

Volume & Turnover

Volume spiked at 09:30 and 15:30 ET, coinciding with sharp price drops. Notional turnover also surged at these times, confirming the bearish move. A divergence appears in the late afternoon as volume declined despite continued price weakness, which could signal a short-term bottom.

Fibonacci Retracements

Fibonacci retracements from the 6.924 high to the 6.724 low show key levels at 6.85 (38.2%), 6.80 (50%), and 6.76 (61.8%). Price has tested 6.76 and may attempt to retest 6.80 in the near term. The 6.85 level could act as a near-term resistance.

Backtest Hypothesis

A potential backtesting strategy involves entering long positions on a bullish engulfing pattern at the 6.813–6.841 level, with a stop-loss below 6.76 and a target at 6.86. This aligns with the RSI’s oversold reading and the Fibonacci 50% retracement level. The strategy would close positions on a break of 6.74 or after 12 hours, whichever comes first. Given the high volatility and clear Fibonacci levels, this strategy could offer a favorable risk/reward profile if volatility stabilizes and buyers return to the 6.80–6.86 zone.