Livepeer/Tether (LPTUSDT) Market Overview: Extended Downtrend and Key Resistance Challenges

• Price declined 7.7% over the past 24 hours, closing at $6.80 after reaching a high of $7.24.
• Volatility expanded after 19:00 ET as price broke below key support at $7.14.
• Strong bearish divergence emerged between price and RSI, signaling potential exhaustion.
• Low volume during the rebound suggests lack of conviction among buyers.

Livepeer/Tether (LPTUSDT) opened at $7.155 on 2025-09-18 12:00 ET and closed at $6.80 as of 2025-09-19 12:00 ET, with a high of $7.24 and low of $6.75. The pair saw 104,580.05 in total notional turnover over 24 hours, with average volume per candle of 5,186.58. Price action has shown a consistent bearish bias with a sharp drop in the evening hours.

Structure & Formations

Price broke through key support at $7.14 during the 19:30 candle, followed by a breakdown of the $7.10 level. A bearish engulfing pattern formed around $7.19 to $7.14, signaling strong bear momentum. A doji appeared at the $7.143–$7.145 range, indicating indecision. A second bearish reversal pattern emerged at the $7.032–$6.943 range, which could act as near-term resistance if the price tests this zone again.

Moving Averages

On the 15-minute chart, the 20SMA crossed below the 50SMA in the late evening, forming a death cross. The 50SMA sits at $6.95, and the 20SMA at $6.90, with price currently below both. On the daily chart, the 50DMA is at $7.00, 200DMA at $6.95, and price is in a clear bearish divergence with both indicators.

MACD & RSI

The MACD line has been negative throughout the session, with a bearish crossover in the 20:00 candle. The histogram remains bearish, suggesting sustained downward momentum. RSI fell below 30 in the 22:00 candle, hitting a 24-hour low of 26, indicating oversold conditions. However, a lack of follow-through suggests buyers are hesitant to enter.

Bollinger Bands

Volatility expanded significantly after 19:30, with price breaking below the lower Bollinger Band at $7.14. The bands widened from a contraction period in the morning hours, confirming an increase in uncertainty. Price has since closed near the lower band on the 15-minute chart and continues to show bearish pressure.

Volume & Turnover

The highest volume spike occurred at the 04:15 candle with 24,390.01 in turnover, coinciding with a sharp drop from $7.032 to $6.943. However, volume during the bounce in the early hours of 09:15 ET was relatively low for the size of the move, indicating weak buyer participation. Overall, volume has been bearish aligned, with larger sell-side volumes in key breakdown areas.

Fibonacci Retracements

The recent 15-minute swing from $7.24 to $6.80 has produced key retracement levels at $7.05 (38.2%) and $6.91 (61.8%), which may act as near-term resistance if the price tests them. On the daily chart, the 61.8% retracement from the recent high is at $6.97, which could offer a potential support level in the event of a rebound.

Backtest Hypothesis

Given the current structure and confirmation of a bearish reversal, a backtest strategy could involve shorting on a close below the 61.8% Fibonacci retracement at $6.91 with a stop above the 38.2% level at $7.05. A target of $6.75, the 24-hour low, could be used for risk-reward balance. This setup aligns with the bearish momentum confirmed by the MACD and RSI, as well as the volume divergence observed.