Market Overview: Livepeer/Tether (LPTUSDT) – 24-Hour Analysis

• Price surged from $6.747 to $7.127, forming a bullish breakout pattern.
• Strong volume expansion noted in the 22:00–05:00 ET window.
• RSI and MACD showed momentum divergence, suggesting potential consolidation.
• $7.03–$7.06 appears to be a key support zone during pullbacks.
• Price is currently above all key moving averages, indicating bullish bias.

Livepeer/Tether (LPTUSDT) opened at $6.747 at 12:00 ET – 1 and surged to a high of $7.127 by 09:45 ET, before consolidating to a close of $7.112 at 12:00 ET today. Total 24-hour volume reached 359,117.94 LPT with a notional turnover of $2,434,529.97. The pair demonstrated strong price action amid rising volume, particularly during the overnight hours.

Structure & Formations

The price action formed a bullish breakout from a descending triangle pattern over the last 12 hours, with resistance at $7.06–$7.08 being decisively cleared. A bullish engulfing pattern emerged at 03:00–03:15 ET, signaling short-term buyers stepping in. A shaven bottom candle at 06:15–06:30 ET reinforced support at $6.99, while a doji at 07:30–07:45 ET suggests indecision and potential consolidation.

Moving Averages

On the 15-minute chart, the price closed above the 20SMA at $7.05 and the 50SMA at $7.02, indicating strong short-term bullish momentum. On the daily chart, the price remains above the 50DMA, 100DMA, and 200DMA, all of which have been progressively rising. This alignment suggests a strong continuation of the upward trend.

MACD & RSI

The MACD line turned positive at $0.062 with a bullish histogram divergence, indicating growing upward momentum. The RSI reached 66, a neutral-to-bullish level, but showed a mild divergence as price continued higher while momentum slowed. This could signal a potential pullback or sideways consolidation in the near term.

Bollinger Bands

Price traded within a widening Bollinger Band range, reflecting increasing volatility. The upper band moved up to $7.15 and the lower to $6.95, with the current price near the midline at $7.05. This suggests the market is in a high-energy phase, with potential for both consolidation and further breakouts.

Volume & Turnover

Volume spiked overnight, particularly between 22:00 and 05:00 ET, with the largest notional turnover occurring at $7.03–$7.08. This period coincided with a sharp rally and strong buying pressure. A minor divergence is visible between price and volume at 06:15–06:30 ET, where price fell slightly while volume remained elevated, indicating a possible test of support.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing from $6.747 to $7.127, the 61.8% retracement level is at $6.98 and the 38.2% level is at $7.03. The price tested the 61.8% level at 06:15–06:30 ET and bounced, suggesting a strong near-term support area. On the daily chart, the 38.2% retracement of the prior week’s move is at $7.03, reinforcing that level as a key psychological floor.

Backtest Hypothesis

Given the recent bullish momentum and key support levels holding, a potential backtest strategy could involve a long entry at the 61.8% Fibonacci retracement ($6.98) with a stop-loss below the $6.95 Bollinger Band low. A take-profit target could be placed at the $7.15 upper Bollinger Band. This strategy leverages the current upward trend and retracement levels, with a focus on volatility and support/resistance dynamics. A moving average crossover (50SMA above 20SMA) would serve as a confirmation filter. This aligns with the observed price behavior and could be tested over the next 10–15 15-minute candles.