$LPT /USDT – Oversold Zone Bounce or Breakdown? ⚠️📉
Livepeer’s rocket-fuelled run to $14.20 on today’s Upbit debut has already cooled, with Binance quoting $11.88 at press time. That 17 % intraday draw-down yanked the 1-hour RSI to 29, flashing the first oversold signal since the listing frenzy began. Bulls say this looks like a textbook liquidity sweep: price revisits the breakout shelf at $10.50-$10.00, absorbs panic sellers and catapults back toward $12.80, then $14+ if volume returns.(CoinDesk, TradingView)
The 21-EMA on the 4-hour chart – currently $10.90 – is the immediate battleground. Fail to reclaim it and the pair risks sliding into March’s value area at $9.40, where buyers defended last time. Beneath that, $7.00 stands as the final weekly structure support; a decisive close below would confirm distribution and could invite a cascade toward the baseline near $5.50.
Momentum traders: watch for bullish divergence on the 15-minute or an RSI reset below 25. Dip-buyers: stagger bids and keep stops tight. Bears: Wait for a candle close under $9.40. Volatility is the only guarantee; trade what you see. Stay safe traders.
