Market Overview for Livepeer/Tether (LPTUSDT) on 2025-09-24

• Price declined to 6.252 from 6.471 on a 24-hour 15-minute chart
• Momentum weakened, with RSI near 30 indicating oversold territory
• Volatility increased in the early morning, with a sharp drop to 6.197
• Volume spiked during the selloff but failed to confirm a reversal

The 24-hour period for LPTUSDT on 2025-09-24 saw the pair open at 6.409 on 2025-09-23 16:00 ET and close at 6.252 at 12:00 ET on the 24th. Price reached an intraday high of 6.471 and a low of 6.197, with total trading volume of approximately 147,186.71 LPT and total turnover of roughly $935,402.50 USD.

Structure & Formations

Price action shows a strong bearish bias, especially after 2025-09-24 03:30 ET, when the price broke below a key support level around 6.28. A notable breakdown candle formed during this time, with a long lower wick and a bearish close. A potential support cluster developed near 6.25, marked by a series of consolidation candles and a failed test at 6.197. Key resistance levels appear to be forming around 6.30 and 6.35, with several failed attempts to break above these levels over the past 24 hours.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trend lower, with the price currently below both, indicating a bearish setup. The 20-period MA is around 6.30 and the 50-period MA is around 6.33, suggesting further downward movement may be expected if the trend continues. On the daily chart, the 50-, 100-, and 200-period MAs all point lower, reinforcing the bearish momentum and indicating that longer-term buyers are not yet in control.

MACD & RSI

The MACD line crossed below the signal line during the selloff, with the histogram showing negative divergence in the morning hours, aligning with the bearish price action. RSI has declined to approximately 30 on the daily chart, indicating oversold conditions. However, the indicator has yet to show any signs of a reversal, suggesting sellers remain in control. If the price fails to hold above 6.25, RSI could drop further, potentially into a double-dip scenario.

Bollinger Bands

Price has spent much of the 24-hour period in the lower half of the Bollinger Band, with the 20-period standard deviation narrowing just before the sharp drop to 6.197. The volatility expansion that followed confirmed a breakout to the downside. The current price is near the lower band, suggesting that another bounce is possible, though a test of the upper band at 6.35 is unlikely without significant buying pressure.

Volume & Turnover

Volume surged during the overnight selloff, particularly in the 03:30–05:00 ET timeframe, when price dropped from 6.305 to 6.224. Notional turnover also spiked during this period, indicating that large players were active on the short side. However, volume has since declined, suggesting that the momentum is running out of steam. A lack of follow-through buying above 6.28 may confirm a deeper consolidation phase ahead.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from 6.197 to 6.471 shows key levels at 6.37 (38.2%) and 6.31 (61.8%). The price tested both levels during the consolidation but failed to break above them, reinforcing the bearish bias. On the daily chart, the 61.8% retracement of the larger move is near 6.30, which coincides with a key resistance level. A sustained close above this level would be required to challenge the 38.2% at 6.37.

Backtest Hypothesis

A potential backtest strategy could involve entering a short position on a close below the 61.8% Fibonacci retracement at 6.28, with a stop-loss placed just above the 38.2% level at 6.31 and a target near the 50% retracement at 6.24. Given the current RSI reading and bearish momentum, the setup appears to align with historical patterns of consolidation followed by a breakdown. This approach would benefit from a confirmation of the short bias through a retest of 6.28 and a lack of follow-through buying.