Livepeer Experiences Volatile Trading Session
Livepeer (LPTUSDT) concluded its trading session at $6.593, following a tumultuous 24 hours where it fluctuated between $6.768 and $6.529. The cryptocurrency faced significant price swings, reflecting the ongoing market challenges.
Market Dynamics and Key Levels
The trading activity around Livepeer showed key support levels near $6.617 and resistance at $6.754, both of which were tested repeatedly, indicating a potential continuation of bearish trends. Notably, there were sharp volume spikes occurring below $6.65, suggesting that sellers may have capitulated, while the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators pointed to a decrease in bullish momentum.
Market Overview
On August 23, 2025, Livepeer opened at $6.756, reaching a peak of $6.768 before hitting a low of $6.529, ultimately closing at $6.593 on August 24, 2025. The total trading volume for this period amounted to 198,842.49 LPT, with a notional value of approximately $1,276,394.36.
Chart Analysis and Patterns
Analysis of the 15-minute chart revealed several bearish continuation formations, including patterns known as dark cloud cover and hanging man, forming around critical resistance points. The price has struggled to maintain levels above $6.702 and $6.754, indicating a potential exhaustion of bullish momentum. A significant bearish engulfing pattern emerged in the early morning hours, reinforcing the prevailing downward trend. Although support at $6.617 has been tested, any decline below $6.593 could signal a deeper retreat towards $6.554.
Moving Averages Signal Bearish Trends
On the 15-minute chart, the 20-period and 50-period moving averages have aligned in a bearish configuration, with prices consistently trading below both averages. The 50-period moving average on the daily chart is acting as a substantial resistance near $6.685, while the 100 and 200-day moving averages continue to trend downward, further indicating a bearish sentiment in the market.
MACD and RSI Analysis
The MACD indicator has crossed beneath the zero line and remains in bearish territory, with a short histogram bar suggesting diminishing momentum. The RSI dipped into oversold conditions below the 30 mark during the morning session but did not produce a significant bullish recovery. This indicates that any potential upward movement may be fleeting and less likely to reach major resistance levels.
Bollinger Bands Indicate Increased Volatility
The Bollinger Bands experienced significant expansion during a sharp sell-off that occurred between 01:00 and 05:00 ET, pointing to heightened volatility in the market. The price has been hovering near the lower band, implying sustained bearish pressure. A move above the middle band could signal a possible short-term recovery, but sustained buying momentum above $6.665 would be necessary for a more definitive bullish shift.
Volume Trends and Market Turnover
Trading volume surged notably during the early morning sell-off, especially between 01:30 and 02:30 ET, marking over $4 million in turnover. This substantial sell-off was not met with a corresponding bullish rebound, suggesting weak follow-through buying. The most significant single volume spike occurred at 06:45 ET, with 18,297.06 LPT traded, coinciding with a sharp drop into the $6.61–6.62 range.
Fibonacci Retracement Levels Tested
In the analysis of the 15-minute chart, crucial Fibonacci retracement levels (38.2% at $6.663, 61.8% at $6.617) were tested several times. Although there was a brief rebound at the 61.8% level, the price could not sustain above it, reinforcing the bearish trend. On the daily chart, the 38.2% retracement level near $6.725 was breached, indicating that further declines toward the 61.8% level around $6.547 may be likely.
Livepeer may face ongoing downward pressure in the next 24 hours if the $6.593 level is breached, with a potential retest of $6.554. Conversely, a bullish reversal could materialize if the price closes above $6.665 with robust volume and momentum, though this scenario seems improbable given the current bearish dynamics. Investors are advised to closely observe volume and order flow for indications of a possible short-covering rally.
