24 September 2023 : In this article we will walk you through Livepeer price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Livepeer, Is LPT a good investment? Livepeer support & resistance levels etc. But before diving deep into the LPT technical analysis, let us talk about the current market conditions.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,055,192,935,020. The total trading volume stands at $14,664,124,939. Bitcoin shares 49.16 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $26,608.51 level after an upward movement of 0.12%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 0.18 percent reaching to $1,595.45 during the previous 24 hours.
While publishing this blog, BNB traded at $210.91, following a price change of 0.03% within the same time frame. XRP the native coin of XRP is down by -0.06 and currently trading at $0.51. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.
Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Livepeer (LPT)
|LPT Resistance Levels||LPT Support Levels|
|Resistance Level 1||$9.19||Support Level 1||$8.04|
|Resistance Level 2||$9.68||Support Level 2||$7.39|
|Resistance Level 3||$10.34||Support Level 3||$6.89|
The daily chart of Livepeer shows that the LPT price has a downward movement with a -0.54% decrease in past 24 hours. The price value of the Livepeer (LPT) coin is standing at $8.63 with market capitalization $214,752,526.00 USD. LPT price changes -3.02% over the week while the trading volume is hovering around $3,398,470.00 USD.
LPT price analysis for 24 September 2023 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Livepeer.
|Simple Moving Average (10)||8.82||Sell|
|Exponential Moving Average (10)||8.83||Sell|
|Simple Moving Average (20)||8.97||Sell|
|Exponential Moving Average (20)||8.97||Sell|
|Simple Moving Average (50)||9.46||Sell|
|Exponential Moving Average (50)||9.44||Sell|
LPT has a nearest resistance of $9.19. A bullish breakout in this resistance level would boost the uptrend momentum. The buyers could then target the resistance R2 placed at $9.68. Alternatively, if the investors turn against the Livepeer (LPT), the bears might control the market and take LPT price below the crucial support level of $8.04. While LPT’s Williams %R indicator is at -39.204 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The MACD line is standing below of the signal line after a crossover. Livepeer investors need to wait for any directional change over the daily chart. RSI implying consolidation phase while trading at 40 and is trying to break out of the neutrality zone.
The value of LPT is continuously dumping but it is expected that support levels at $8.04 and $7.39 will act as crucial points and bounce the trend line in the bullish zone