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Livepeer ($LPT) Price Takes a Hit, But Bullish Momentum Remains

Livepeer ($LPT) Price Takes a Hit, But Bullish Momentum Remains

Analyze of Livepeer ($LPT) Price Dip and Potential Survival

An innovative platform built to make video streaming easy, Livepeer has been suffering its fair share of the volatile nature of cryptocurrency. On August 13, the coin increased by 48%, but the spike was short-lived due to low buying activities. As of 4:40 am EST, the Livepeer ($LPT) price is down by over 7% in the last 24 hours, trading at $7.59.

Key Points:

  • The 7-Day price performance of Livepeer ($LPT) is showcasing bullish movement, up by more than 30%.
  • Over the past 14 and 30-day trading sessions, $LPT went up by 87% and 62% respectively, indicating high buying strength and potential for growth.
  • The daily chart shows that Livepeer is trading above the Bollinger Bands Indicator, signaling bullish sentiment and positive momentum.
  • However, the Relative Strength Index (RSI) value of 70 suggests that the coin might be overbought, cautioning a possible reversal or pullback in the near term.
  • Traders and investors should exercise caution, conduct thorough research, and consider a combination of technical and fundamental factors when making decisions.

Factors Affecting the Price of LPT Token

The recent price drop of Livepeer ($LPT) can be attributed to a notable difference in short and long liquidation within 24 hours. Short liquidations have surpassed long liquidations, indicating a prevailing bearish sentiment and increased selling pressure. Moreover, the coin is witnessing reduced interest and engagement, intensifying the selling pressure and contributing to its decline in value.

Analyze of Wall Street Memes ($MEMES) Presale and Expert Support

Following an impressive presale that raised $23.7 million, traders and experts are supporting the Wall Street Memes cryptocurrency, foreseeing potential increases of tenfold or more when it becomes available for trading on exchanges. The coin stands out by combining effective long-term tokenomics with the allure of community incentives.

Key Points:

  • Many leading experts have supported Wall Street Memes, anticipating substantial profits after it becomes available on exchanges.
  • The coin’s existing base of a million followers and interactions with Elon Musk are significant attractions.
  • The coin will be entirely community-owned, distributing 50% of tokens during the presale, 30% for community rewards, 10% to DEX liquidity, and 10% to CEX liquidity.
  • Top analysts, including No Bs Crypto and Jacob Crypto Bury, have forecasted returns of 10 times the investment.

Hot Take:

The Livepeer ($LPT) price dip raises concerns about its short-term performance, but the positive 7-Day price movement and bullish indicators suggest potential for growth. Traders should approach with caution and consider technical and fundamental factors. On the other hand, Wall Street Memes ($MEMES) has garnered substantial support and shows promising tokenomics. With expert backing and a community-owned approach, investors may see significant returns when it becomes available for trading.

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Livepeer ($LPT) Price Takes a Hit, But Bullish Momentum Remains