Market Overview for Livepeer/Yen (LPTJPY)

Summary
• Price closed down 3.8% at ¥826.4 from ¥831.8 opening.
• A long bearish shadow formed at 18:15 ET as price surged to ¥840 before reversing.
• Low volume consolidation below ¥836.8 suggests indecision and bearish bias.
• 24-hour turnover of ¥2,666.16 saw heavy selling below ¥830.
• Key support appears at ¥825–826, with possible break below ¥816.1.

Market Overview for Livepeer/Yen (LPTJPY)

LPTJPY opened at ¥831.8 at 12:00 ET-1 and traded down to a 24-hour low of ¥816.1 before closing at ¥826.4 at 12:00 ET. The total 24-hour volume was 1,022.18 LPT, with a notional turnover of ¥2,666.16. The pair showed mixed action, with sharp sell-offs into the early hours of 11/9 and a brief attempt to rally above ¥830 before fading again.

The price action formed a long bearish shadow at 18:15 ET, where it spiked to ¥840 before reversing lower. A cluster of doji candles followed after 20:30 ET, signaling indecision. The low-volume consolidation into the early hours of 11/9 suggests bearish control, especially as the price failed to reclaim ¥836.8 and drifted lower into the early morning.

Structure & Formations

Key support levels are forming at ¥825–826 and ¥816.1, while the nearest resistance is ¥830–836.8. A notable bearish engulfing pattern occurred at 18:15–18:45 ET, which reversed the price from ¥840 to ¥825.3. The cluster of doji candles between 20:30–02:30 ET highlights a potential exhaustion of bullish momentum.

Moving Averages

On the 15-minute chart, the 20-period MA is trending lower, currently at ¥830.5, and the 50-period MA is at ¥832.4. On the daily chart, the 50-period MA is at ¥828.9, 100 at ¥831.1, and 200 at ¥835.7. Price has been below both the 20 and 50 SMAs for most of the 24-hour window, reinforcing the bearish sentiment.

MACD & RSI

The MACD is negative and trending lower, with the signal line below zero and a bearish crossover at 00:30 ET. The RSI stands at 43, which is neutral but has been trending downward over the past 6 hours, suggesting weakening bullish momentum. A move below 30 would suggest oversold conditions, though this may not necessarily trigger a reversal without a strong volume spike.

Bollinger Bands

The 20-period Bollinger Bands are expanding, with the upper band at ¥845.6 and lower at ¥819.4. Price has spent the majority of the 24-hour window inside the bands, suggesting normal volatility. However, the price has touched the lower band multiple times since 00:30 ET, indicating a possible oversold condition that may lead to a minor rebound.

Volume & Turnover

Volume was concentrated in two key sessions: 18:15–20:00 ET and 00:30–03:30 ET. The 18:15–18:30 candle had 28.83 LPT traded with a large price swing, indicating a significant bearish move. However, the lack of follow-through volume suggests a lack of conviction. Turnover was strongest during the early morning sell-off, particularly around ¥824–825. The price and turnover diverged in the 20:30–02:30 window, with continued price declines despite falling turnover.

Fibonacci Retracements

Applying Fibonacci to the 18:15–00:00 ET move from ¥840 to ¥816.1, key retracement levels are ¥826.9 (38.2%) and ¥822.3 (61.8%). Price is currently resting at ¥826.4, near the 38.2% level, which could act as a temporary support or trigger a further move toward the 61.8% level. On the daily chart, the 38.2% retracement from ¥831.8 to ¥816.1 is at ¥823.3, aligning with current price consolidation.

Backtest Hypothesis

The backtest strategy involves detecting Doji-Star patterns for sell confirmation signals. However, due to an inability to retrieve LPTJPY data for this pattern scan, we need to confirm the symbol accuracy or provide explicit sell confirmation dates. If LPTJPY is indeed correct and available on the intended exchange, we can proceed with an alternative data source. If the symbol is incorrect, we recommend specifying the preferred ticker (e.g., LPT-USDT or LPT-USD), as JPY pairs are uncommon in crypto markets. Once confirmed, we can run a backtest from 2022-01-01 to 2025-11-09 to evaluate signal accuracy and strategy performance.