Market Overview for Livepeer/Tether USDt (LPTUSDT)

• Price surged 10.2% over 24 hours, breaking out of a consolidation phase
• High volatility noted with a 6.82–7.31 range and expanding Bollinger Bands
• RSI reached overbought territory, while MACD showed bullish divergence
• Volume spiked above average after 09:30 ET, confirming bullish momentum
• Key resistance at 7.18–7.20 now invalidated; next target at 7.31

Livepeer/Tether USDt (LPTUSDT) opened at $6.789 on 2025-09-05 at 12:00 ET and reached a high of $7.313 before closing at $7.018 on 2025-09-06 at 12:00 ET. The 24-hour range was $6.78–$7.313, with total volume of 730,259.62 and notional turnover of approximately $5,029,443.

Structure & Formations

The 15-minute chart displayed a bullish breakout after a midday consolidation phase. A key resistance at $7.18 was broken at 09:30 ET, followed by a strong continuation to $7.313. A large bullish engulfing pattern formed around 09:15–09:30 ET, confirming the shift in sentiment. A bearish harami appeared at the top of the move, suggesting potential near-term resistance. Notable support levels include $6.90 and $6.85, while resistance is now at $7.31.

Moving Averages

On the 15-minute chart, the 20SMA crossed above the 50SMA, forming a golden cross. The price closed above both indicators, reinforcing the bullish bias. On the daily chart, the 50DMA recently crossed above the 200DMA, forming a positive trend signal. The 100DMA remains below the 50DMA, suggesting potential for a further test of the 7.31 level.

MACD & RSI

The MACD line crossed above the signal line in the morning and remained positive, with diverging peaks and a strong histogram. The RSI reached 70+ multiple times after the breakout, indicating overbought conditions, though buy volume confirmed the strength. A bearish divergence emerged at $7.31, which may signal a pullback to key support.

Bollinger Bands

Bollinger Bands expanded significantly as volatility surged during the breakout phase. Price traded above the upper band during the morning, indicating strong buying pressure. A contraction was observed before the breakout, suggesting the buildup of momentum. The price is now near the upper band again, signaling a continuation or potential reversal.

Volume & Turnover

Volume remained moderate during the consolidation phase but spiked after the 09:30 ET breakout, with two major surges at $7.18 and $7.31. Notional turnover also rose sharply, with the highest 15-minute turnover recorded at $7.31. Divergence between volume and price has not been observed; both metrics confirm the bullish move.

Fibonacci Retracements

Applying Fibonacci to the recent swing low of $6.78 and high of $7.313, the price is now near the 78.6% retracement level at approximately $7.14. A test of the 61.8% level at $7.05 appears likely if the current pullback continues. The 38.2% level at $7.18 is now invalidated, suggesting a deeper pullback to the 61.8% or even the 50% level at $7.05.

Backtest Hypothesis

Given the confirmation of a bullish breakout and strong volume and momentum signals, a potential backtesting strategy could involve a long entry at the close of the bullish engulfing pattern with a stop just below the 6.90 support level. A trailing stop could be set at the 78.6% Fib level at $7.14, with an initial target at the 61.8% Fib at $7.05 and a long-term target at the 7.31 resistance. This strategy leverages both price action and technical indicators for risk-managed entry and exit points.