Market Overview: Livepeer/Yen (LPTJPY) 24-Hour Technical Summary

Summary
• LPTJPY saw a 24-hour close near support at 772.1, down 1.5% from 784.5.
• Volatility expanded significantly overnight before narrowing into consolidation.
• Volume surged in the pre-market and early trading hours, suggesting active positioning.
• RSI and MACD indicated bearish momentum, with price near 20-period MA.
• Fibonacci retracements highlight 772.1 as a key near-term support level.

LPTJPY opened at 784.5 on 2025-11-04 at 12:00 ET and reached a high of 789.3 before closing at 772.1 at 12:00 ET on 2025-11-05. Total 24-hour volume was 12,745.95, with a turnover of 9,875,507.40 JPY. The price action displayed a clear bearish bias, particularly in the early morning hours, where a significant volume spike accompanied a sharp decline.

The 15-minute chart shows a breakdown from key resistance levels in the 785–790 range and a pullback toward the 772–773 support. Notable patterns include a bearish engulfing candle in the 0600–0615 ET session and a long lower shadow in the 0830–0845 ET period, suggesting rejection of lower levels. The 20-period and 50-period moving averages both slope downward, reinforcing a bearish bias. The 50-period MA currently sits at 779.6, offering a potential retest area for buyers.

MACD remained negative throughout the session, with the histogram expanding as the price declined, confirming bearish momentum. RSI fell to 42 by the close, suggesting the move is still within a normal range rather than overextended. Bollinger Bands expanded sharply in the overnight session, indicating increased volatility, and have since tightened as price consolidates near the lower band. This may indicate a potential bounce or further downside depending on volume and order flow.

Fibonacci retracements drawn from the 723.3 to 789.3 swing show key levels at 754.0 (38.2%), 735.5 (61.8%), and the 772.1 close at the 72.5% extension, suggesting a possible pause or consolidation before further moves. The 772.1 level appears to be the immediate support, with the next key level at 760.0. A break below 760.0 could trigger a retest of 742.6 and eventually 723.3.

The backtesting strategy under consideration assumes a 3-day maximum holding period, using close prices without slippage or transaction costs. The strategy would likely target short-term directional moves based on the observed volatility and momentum signals. The 15-minute timeframe shows consistent bearish momentum and high volume in key breakdown areas, which could support a mean-reversion or breakout-following strategy. However, the current price action near key support levels adds an element of uncertainty, and a breakout confirmation may be needed for clarity.

Looking ahead, LPTJPY may remain in a bearish consolidation phase if the 772.1 support holds. A break below this level could accelerate the downward move toward 760.0 and 742.6, but traders should remain cautious about potential buying interest at key Fibonacci and moving average levels.