Livepeer Price Prediction: LPT Attempting to Cross Moving Averages
The Livepeer price is currently attempting to cross above the 9-day and 21-day moving averages. The current price of Livepeer is $6.01, with a market cap of $74.1 million. The circulating supply of Livepeer is 569.3 million, out of a total supply of 1.0 billion. Livepeer is ranked #284 on Coinmarketcap.
LPT/USD Market Analysis
The resistance levels for LPT/USD are $9.0, $10.0, and $11.0, while the support levels are $3.0, $2.0, and $1.0.
Today, LPT/USD reached a peak of $6.3 before trading within the 9-day and 21-day moving averages. To avoid downward pressure, Livepeer needs to stay above the moving averages. The closest support level for Livepeer is at $5.0, which could be a daily low.
Livepeer Price Prediction: Possible High of $7.0
There is a possibility that the Livepeer price could trend higher and reach the resistance levels of $9.0, $10.0, and $11.0 if there is a bullish movement towards the upper boundary of the channel. On the downside, if there is a bearish movement below the lower boundary of the channel, it could stop the initial upward movement and create bearish momentum towards the support levels of $3.0, $2.0, and $1.0.
Currently, the 9-day MA may cross above the 21-day MA, which could allow buyers to focus on stirring action to the north. However, it is important for the bulls to increase their momentum to prevent the bears from dominating the market.
LPT/BTC Analysis: Potential Rise
Against Bitcoin, the Livepeer price is crossing above the 9-day moving average and approaching the resistance level of 2292 SAT. If the sellers sustain pressure, the LPT price may go down further.
If the bears succeed in breaking below the lower boundary of the channel, the market price could reach the support level at 1300 SAT and below. On the other hand, if the bullish movement continues, Livepeer could approach the upper boundary of the channel and reach the resistance level of 3000 SAT and above, which would boost the bullish movement.
Alternatives to Livepeer
The Livepeer price is currently attempting to cross above the moving averages, with $5.7 being the nearest support level. LPT/USD has been trading within the moving averages recently, which could push the coin towards the upper boundary of the channel and hit a resistance level of $8.0.
Livepeer has introduced a unique stake-to-mine feature that sets it apart from other cryptocurrencies. This unique utility could attract more users over time and find a good product-market fit. The token has already gained over $990k in its ongoing presale, showing promising growth potential in the market.
Hot Take: Livepeer’s Unique Utility Sets It Apart
Livepeer’s attempt to cross above moving averages indicates positive momentum in its price. With its unique stake-to-mine feature, Livepeer distinguishes itself from other cryptocurrencies and has already gained significant traction in its presale. By democratizing the mining process, Livepeer has positioned itself for further growth in the market. As it continues to attract more users and find its product-market fit, Livepeer could experience a rise in price and solidify its position in the crypto space.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
