LPT/USD Heads to the Upside; Price Shoots Above $9.0 Level
The Livepeer price prediction shows that LPT could set a bullish run if the market gains additional resistance levels.
Livepeer Prediction Statistics Data:
- Livepeer price now – $7.73
- Livepeer market cap – $208.4 million
- Livepeer circulating supply – 27.1 million
- Livepeer total supply – 27.1 million
- Livepeer Coinmarketcap ranking – #142
Resistance levels: $11.0, $12.0, $13.0
Support levels: $4.0, $3.0, $2.0
LPT/USD is trading within a positive movement at the time of writing above the 9-day and 21-day moving averages. The market is running a little retracement move towards $7.5 resistance with price growth of 16.05%. However, Livepeer (LPT) is beginning to maintain a bullish movement within the channel and traders can expect the price to continue to rise as soon as the bulls put more pressure on the market.
Livepeer Price Prediction: Would LPT Price Break to the Upside?
If the lower boundary breaks again, the Livepeer price may slide back to $6.27 and $6.0 support. Moreover, if the price keeps respecting the upward movement, traders can then expect a bullish continuation toward the resistance level of $9.5 level. As the technical indicator, Relative Strength Index (14) moves within the overbought region, the next resistance levels could be located at $11.0, $12.0, and $13.0 respectively.
Looking at the price formation, any break below the 9-day and 21-day moving averages could play out for this market if the bears step into the market. However, a bearish extension could now roll the coin back to the long-term support levels at $4.0, $3.0, and $2.0. Therefore, a continuous fall might further lead to a violent break below the lower boundary of the channel.
When compares with Bitcoin, buyers are stepping back into the market as the coin shows a promising sign that could make higher highs should it keep on moving above the 9-day and 21-day moving averages. From the upside, the nearest resistance level lies at 4000 SAT, and the higher resistance lies at 4700 SAT and above.
But, from the downside, the nearest support level is located at 3200 SAT, and if the price drops to create a new low, lower support could be found at 2000 SAT and below. Moreover, the technical indicator Relative Strength Index (14) is likely to cross above the 70-level, suggesting that the bulls are coming into focus.
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