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Livepeer price prediction shows that LPT may start to face upward pressure as it prepares to break above its moving averages.
Livepeer Statistics:
Livepeer current price – $17.6
Livepeer Market Cap – $559.4 million
Livepeer Circulating Supply - 31.6 Million
Livepeer Total Supply - 31.6 billion
Livepeer Coinmarketcap Ranking – 155th
LPT/USD Market
Key Levels:
Resistance Levels: $26, $28, $30
Support Levels: $8, $6, $4
LPTUSD - Daily Chart
LPT/USD is trying to break above the 9-day and 21-day moving averages, while the $16 level remains the nearest support, where the Livepeer price may find support. However, any bullish move above the moving averages may carry the price towards the upper boundary of the channel.
Livepeer Price Prediction: Will Livepeer Go Up?
Looking at the daily chart, if the bulls increase the pressure, the Livepeer price might start rising and it might touch the nearest resistance level of $22. Therefore, any bullish move upside could push the price towards the potential resistance levels of $26, $28, and $30.
At the same time, this technical analysis may not come into play if the price slides down and faces the lower boundary of the channel. Therefore, any bearish action may reach the support levels of $8, $6, and $4. Moreover, the 9-day moving average is still below the 21-day moving average, and there are bearish signals in the market.
LPT/BTC consolidates within the channel
Compared to Bitcoin, the Livepeer price is hovering below the 9-day and 21-day moving averages. Meanwhile, if the 9-day moving average can form a bullish crossover above the 21-day moving average, this could lead to the start of a new trend.
LPTBTC - Daily Chart
However, if the buyers are able to drive the price higher, higher resistance may be located at 3700 SAT and above. The 9-day moving average may need to cross above the 21-day moving average, which may allow buyers to dominate the market. Moreover, if the bulls are unable to increase the current market value, the bears may resume and the nearest support level may be located at 1200 SAT and below.
However, @NasiriQudrat informed his 5k+ followers on X (formerly Twitter) that the $LPT falling wedge has broken out and is in the process of retesting on the daily timeframe! A successful retest could signal a potential 3x upside in the short term.
$LPT
Falling wedge breakout, now retesting on the daily timeframe!
Successful retesting is expected to achieve 3x growth in the near future
https://t.co/TIyTzl6juw
@Livepeer
#lpt
#Crypto
pic.twitter.com/pB4Tuetbix
– Qudrat Nasiri (@NasiriQudrat)
April 7, 2024
Alternatives to Livepeer
Currently, Livepeer price is showing a bullish trend and is expected to surpass the 9-day and 21-day moving averages. Despite the continued market pressure, Livepeer has shown resilience and continues to pursue upwards. Amid volatility across the cryptocurrency market, people expect imminent stability, supporting a potentially prosperous market environment. However, Livepeer (LPT), with a market cap of $559.4 million, may face challenges in achieving significant price growth by the end of the year. In contrast, Bitcoin Minetrix, an innovative token that offers a unique staking mining feature, stands out and has already received $12.9 million in funding in the ongoing presale.
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