Livepeer/Tether (LPTUSDT) Market Overview

• LPTUSDT posted a strong 24-hour rally, breaking above a key resistance level after a deep dip below $4.70.
• Momentum turned bullish in the last 6 hours, supported by rising volume and tightening RSI.
• Volatility expanded significantly after 00:00 ET as the pair surged to a 24-hour high of $5.30.
• Turnover spiked sharply with a massive candle at the start of the 24-hour period, suggesting large institutional or algorithmic buying.
• A bullish engulfing pattern formed following the morning low, signaling a potential short-term reversal.

Livepeer/Tether (LPTUSDT) opened at $4.80 on October 11 at 12:00 ET and closed at $4.84 at the same time on October 12. The 24-hour high reached $5.30, while the low touched $4.63. Total volume was 885,677, and turnover hit $3,714,485. The asset showed a clear reversal from bearish to bullish momentum, especially in the early morning and early afternoon hours.

The 20-period and 50-period moving averages on the 15-minute chart crossed in a bullish “golden cross” shortly after 02:00 ET, suggesting short-term trend confirmation. The daily chart saw the 50-period MA above both the 100 and 200-period lines, indicating a longer-term bullish bias. The price has held above the 50-period MA for most of the day, reinforcing its dominance.

MACD turned positive in the early morning and remained bullish, confirming the upward move. RSI, which had dipped into oversold territory below 30 at 19:30 ET, rebounded sharply through overbought levels above 65, indicating strong short-term momentum. Volatility, as measured by Bollinger Bands, showed a significant expansion during the morning surge, with price closing the session near the upper band — a sign of potential exhaustion or continuation, depending on context.

A key resistance level appears to be forming near $4.95, based on Fibonacci retracements from the recent $4.63 swing low to the $5.30 high. The 61.8% retracement level at $4.95 has been tested twice, with a potential break looming. A breakdown could return the price toward $4.80, the 50-period MA. A breakout may see the next target at $5.11, the 78.6% retracement level.

The backtest strategy described involves a combination of short-term momentum and trend-following signals. A potential buy signal is triggered when the 20-period MA crosses above the 50-period MA on the 15-minute chart, MACD turns positive, and RSI moves above 50. A sell signal is triggered on a close below the 50-period MA or when RSI falls below 50 for three consecutive bars. This strategy would have captured most of the upward move from $4.70 to $5.30 if applied at 00:30 ET.