Market Overview: Livepeer (LPTUSD) – 24-Hour Technical Summary

• LPTUSD opened at $6.954 and fell to a 24-hour low of $6.662, closing at $6.696 near the session’s bottom.
• A sharp sell-off occurred overnight, with over 20% of volume concentrated in the 00:15–03:00 ET window.
• Price remains below key 50-period and 200-period moving averages, indicating bearish momentum.
• RSI dropped below 30 for the first time in the 24-hour window, signaling potential oversold conditions.
• Volatility expanded during the sell-off, pushing price near the lower Bollinger Band for extended periods.

Livepeer (LPTUSD) opened at $6.954 at 12:00 ET on 2025-08-31 and closed at $6.696 by 12:00 ET on 2025-09-01. The token traded as high as $7.012 and as low as $6.662, with a total trading volume of 542.75 and a notional turnover of $3,753.15 over the 24-hour period.

Structure & Formations

The 15-minute chart displayed a clear bearish bias after 18:15 ET, as the price broke below the prior support at $6.981, forming a series of bearish inside bars and a bearish engulfing pattern at the $6.962 level. A sharp decline unfolded overnight, with the price sinking near the lower Bollinger Band and testing a prior resistance-turned-support at $6.7, now acting as a price floor.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart are currently bearish, with the 20-period line at ~$6.75 and the 50-period line at ~$6.78, both above the current close. On the daily chart, the 50-period and 200-period lines are also bearish, with the 200-period line resting at ~$6.90, suggesting downward momentum remains intact.

MACD & RSI

MACD lines on the 15-minute chart showed negative divergence as the price dropped below $6.80, with the histogram shrinking in size, indicating waning bearish momentum. RSI hit a 24-hour low below 30 in the early morning session, signaling potential oversold conditions. A bullish reversal in RSI is yet to materialize, but the indicator may offer early signs of support near $6.65–$6.70.

Bollinger Bands

Volatility expanded significantly during the overnight sell-off, with price dropping near the lower Bollinger Band for several hours. The band width peaked at 0.18 during the 00:00–02:00 ET window, indicating heightened uncertainty. Price has remained within the band for most of the session, with the upper band at ~$6.90 and the lower band near ~$6.64.

Volume & Turnover

Volume spiked during the overnight selloff, with the heaviest trading occurring between 00:15–03:00 ET, where over 20% of the total volume was recorded. Turnover also spiked in these hours, confirming the price action. No significant divergence was observed between volume and price, reinforcing the strength of the bearish move.

Fibonacci Retracements

Fibonacci levels drawn from the swing high of $7.012 to the swing low of $6.662 show key retracement levels at ~$6.84 (38.2%) and ~$6.75 (61.8%). Price appears to have found temporary support near the 61.8% level in the early afternoon, suggesting a potential bounce or test of the $6.75–$6.80 range in the near term.

Backtest Hypothesis

Given the bearish bias and RSI oversold reading, a potential backtesting strategy could involve a long position near the 61.8% Fibonacci level (~$6.75) with a stop-loss just below the recent low of $6.662. A take-profit target could be set near the $6.85–$6.90 range, aligning with the upper Bollinger Band and key resistance-turned-support levels. This approach assumes a short-term bounce from oversold conditions but does not assume a reversal of the larger bearish trend.