Livepeer/Tether (LPTUSDT) Market Overview

Summary
• LPTUSDT dropped 8.5% over 24 hours amid bearish momentum and bearish engulfing patterns.
• Volume spiked after 17:00 ET, confirming a sell-off phase.
• RSI remains oversold, suggesting potential for a short-term bounce.

The LPTUSDT pair opened at $5.405 on 2025-11-09 at 12:00 ET, reached a high of $5.484, and a low of $5.15 before closing at $5.175 by 12:00 ET on 2025-11-10. The total 24-hour volume was 182,823.56 LPT, while turnover amounted to $948,337.46.

Structure & Formations
The 24-hour chart for LPTUSDT shows a clear bearish bias with a significant bearish engulfing pattern forming at the high of $5.484. Price then broke below key support levels, notably at $5.35 and $5.25, with a recent swing low at $5.15. A bearish flag pattern has developed following the initial sharp sell-off. The price appears to have found temporary support near the 61.8% Fibonacci retracement level of the prior upward swing.

Moving Averages
On the 15-minute chart, the 20-period and 50-period moving averages are both in a bearish alignment, with the price consistently trading below both. On a daily basis, the 50/100/200 EMA lines are aligned in a downtrend, reinforcing the bearish narrative.

MACD & RSI
MACD has remained in negative territory for much of the 24-hour period, with bearish divergence in the histogram. RSI is currently near oversold levels (~25), suggesting short-term exhaustion, but caution is needed as the pair may consolidate before resuming the downtrend.

Bollinger Bands
Volatility has expanded significantly during the sell-off, with prices trading below the lower Bollinger Band. This is a common characteristic of a strong bearish move. A retest of the midline or the upper band could indicate a short-term pullback.

Volume & Turnover
Volume increased significantly after 17:00 ET on the 9th, confirming the bearish breakout. Turnover also spiked during the same period, validating the selling pressure. No material divergences between price and volume are currently evident, which supports the integrity of the downtrend.

Fibonacci Retracements
The price has recently fallen to the 61.8% retracement level of the move from $5.15 to $5.484 at around $5.26. A break below $5.15 could extend the decline further to the 78.6% level near $5.06.

Backtest Hypothesis
Given the bearish engulfing pattern and the strong confirmation via volume and price action, a short strategy based on such signals appears valid. To optimize this approach, I recommend using a mixed exit rule: cover the short either after a 5-day holding period or at the first sign of a 8% stop-loss or 10% take-profit, whichever occurs first. This balances time-based discipline with price-defined risk/reward.