Livepeer (LPT/USD) Captures $7.61; Now Seeking to Settle Above the $8.00 Price Level
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The $7.61 price is a key resistance level in the Livepeer market. It was the point at which the bulls were defeated in early December of last year. Since the beginning of the year, the bull market has been progressive. After they had found a support level at $4.42, on the 7th of January, the market began to aggressively reclaim new price levels. We saw a spike in the bull market on the 25th of January when the price reached that same $7.61 level. But the hyper-bullish move may have triggered a bearish move as they cut the price at around that key price level. Despite that, the new higher support level at $7.14 forms the basis for the current move that is currently seizing the $8.00 price level.
LPT/USD Price Statistic
- LPT/USD price now: $8.12
- LPT/USD market cap: $207.40M
- LPT/USD circulating supply: 27,188,023.512 LPT
- LPT/USD total supply: 22,859,012 LTP tokens
- LPT/USD coin market cap rank: #178
Key Levels
- Resistance: $8.5, $9.0, $9.5
- Support: $7.14, $6.85, $6.00
Price Prediction for Livepeer: A look at the Indicators
The Bollinger bands indicator is very bullish about the Livepeer market. And though the recent price actions are significant, they are not shooting out beyond the upper band of the indicator. That means that there is still room for the buyers to push the price further. However, they are close to the overbought territory. And the RSI indicator is already measuring overbought momentum.
LPT/USD 4-Hour Chart Outlook
The 4-hour timeframe also supports the fact that the market is still within the buy range. From this vantage point, the price is just on the verge of being overbought, according to the Bollinger Bands indicator. The price is not yet beyond the upper band. And the RSI now measures 65.7 for the momentum of the market. What will preserve this achievement for the bulls is a new support level above the $8.00 price level.
