Livepeer/Yen (LPTJPY) Market Overview

• LPTJPY surged from 783.9 to 833.9 in 15-minute trading, forming a strong bullish breakout.• Volume spiked dramatically at 2083.23 near the peak, confirming price action strength.• The pair retreated after hitting 833.9, indicating potential short-term profit-taking.

LPTJPY opened at 783.9 (12:00 ET – 1) and surged to an intraday high of 833.9 before settling at 830.6 as of 12:00 ET. The 24-hour period saw total volume of 16,679.63 and a notional turnover of 8,131,075.70 JPY. A strong bullish impulse and key technical levels emerged in this volatile session.

Structure & Formations

The price formed a sharp ascending channel with key support at 783.9 and resistance around 833.9. A large bullish engulfing pattern developed from 21:45 to 22:00 ET, confirming the breakout. A 61.8% Fibonacci retracement level at 812.8 appeared to serve as a temporary support before the rally continued.

Moving Averages

On the 15-minute chart, price surged above the 20-period and 50-period moving averages, reinforcing the bullish bias. On the daily chart, the 50-period MA crossed above the 200-period MA, indicating an emerging intermediate-term bullish trend.

MACD & RSI

The MACD crossed above the signal line with a strong positive histogram, reinforcing bullish momentum. RSI reached 70 in the final hours, suggesting overbought conditions. A bearish divergence in the later hours hinted at potential short-term exhaustion.

Bollinger Bands

Price tested and exceeded the upper Bollinger Band near 833.9, signaling high volatility. A contraction occurred just before the breakout, indicating a potential reversal. Price now sits slightly above the band, suggesting continuation is possible but with increased risk.

Volume & Turnover

Volume surged dramatically at 2083.23 during the breakout, with turnover aligning with the price move. A divergence occurred in the last 3 hours, where price rose while volume fell, suggesting caution ahead.

Fibonacci Retracements

The 61.8% retracement level at 812.8 acted as support during the consolidation phase. The 38.2% level at 825.8 became resistance as the price pulled back from 833.9. These levels could serve as key watchpoints for near-term price action.

Backtest Hypothesis

Given the presence of a bearish MACD top divergence earlier in the session, a short trade could have been opened with a target to close upon the MACD line crossing back above the signal line or after a fixed holding period. A fixed 10-trading-day exit rule would have captured the initial retracement. However, due to an internal server error, the full backtest could not be executed. Once the ticker symbol is verified and the exit rule confirmed, the analysis can be finalized.