Livepeer/Tether (LPTUSDT) Market Overview

Summary
• Price dropped to 5.213 amid increased bearish momentum.
• RSI indicates oversold conditions, while volume remains elevated.
• Key support at 5.20 and resistance at 5.30 were tested and retested.

Market Overview

Livepeer/Tether (LPTUSDT) opened at 5.41 on 2025-11-08 at 12:00 ET, reached a high of 5.458, and a low of 5.127 before closing at 5.275 on 2025-11-09 at 12:00 ET. The 24-hour volume amounted to 781,624.57 with a total turnover of $4,031,168.23. The pair has shown a bearish trend with a notable breakdown below prior support levels and confirmation from momentum indicators.

Structure & Formations

The 24-hour price action reveals a breakdown from the 5.40–5.45 resistance cluster, with a decisive close below 5.30 marking a bearish shift. A key support level at 5.20 held briefly but was subsequently broken. A bearish engulfing pattern formed on the 15-minute chart at 00:30 ET, confirming a shift in sentiment. The price then entered a consolidation phase before another bearish move into the 5.10–5.15 range.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA, forming a death cross, indicating bearish momentum. On the daily chart, the 50-period MA is approaching the 200-period MA, suggesting a potential bearish crossover. The price remains below both the 50 and 100-period MAs, reinforcing a bearish bias.

MACD & RSI

The MACD histogram showed a significant bearish expansion during the price breakdown, with the line dipping below the signal line. RSI reached a low of 30, indicating oversold conditions, though the momentum has not reversed yet. A bullish divergence formed between price and RSI in the 5.10–5.15 range, hinting at a potential short-term bounce.

Bollinger Bands

Volatility expanded during the price breakdown, with the lower Bollinger Band reaching 5.15 as a support level. The price has since moved above the lower band, indicating potential oversold conditions. A tightening of the bands occurred just before the breakdown, suggesting a high-probability move was imminent.

Volume & Turnover

Volume spiked during the breakdown from 5.40 to 5.20, confirming the bearish shift. However, subsequent volume has remained mixed, with no clear confirmation of a reversal. Turnover increased as price approached key levels, with the highest turnover occurring during the 23:15–00:00 ET period.

Fibonacci Retracements

The 61.8% Fibonacci retracement level at 5.30 acted as a key resistance, which was decisively broken. The next target lies at the 78.6% level near 5.20. A potential rebound could find support at the 38.2% level at 5.35, which may provide a short-term floor.

Backtest Hypothesis

To develop a robust backtesting strategy for LPTUSDT, it is essential to refine the rules for signal generation and exit. For example, a bearish engulfing pattern on a 15-minute chart could trigger a short entry at the next day’s open, with an exit rule set to close the position when RSI crosses above 70, indicating overbought conditions. Position sizing could be based on 5% of portfolio capital to manage risk.