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Livepeer price forecast started its rally with a break above the key resistance level at $22.0 as the coin heads north.
Livepeer (LPT) Coin Gains Momentum: Upcoming Announcement for Web3 Social Media Platform
Livepeer (LPT) is experiencing a new boom cycle with a steep vertical price increase. The LPT rose to $23.11 in a single price move, from its annual high above $25. The token can experience rapid inflows and outflows due to limited arbitrage opportunities. The disparity in LPT pairs could be a contributing factor to the increased trading activity.
Livepeer prediction statistics:
- Livepeer price now – $22.98
- Livepeer market cap – $748.9 million
- Livepeer circulating supply – 32.5 million
- Total Livepeer offering – 32.5 million
- Livepeer Coinmarketcap Ranking – #108
LPT/USD Long Term Trend: Ranging (Daily Chart)
Key Levels:
Resistance levels: $33, $35, $37
Support levels: $12, $10, $9
LPT/USD is experiencing significant boosts that push the coin above the 9-day and 21-day moving averages. The current performance of the coin indicates the beginning of an upward movement within the channel. Meanwhile, it is only a matter of time that this coin will reach a new resistance level at $25 as it starts to follow the positive direction.
Livepeer Price Prediction: What to Expect from Livepeer
The Livepeer price is hovering around $22.98 and touching the daily high of $23.1. The ongoing trend could move slightly higher in the next positive direction, and the coin could reach the nearest resistance level. However, if buyers put in more effort, LPT/USD could reach additional resistance levels at $33, $35, and $37 respectively.
Nevertheless, if the coin falls below the 9-day and 21-day moving averages, a bearish decline could move the market back down and the initial support level of $20.8 could be reached. Moreover, any further bearish move could hit the critical support points at $12, $10 and $9. Moreover, the 9-day MA is hovering above the 21-day MA, and this could provide more bullish signals to the market.
LPT/BTC can shoot north
Against Bitcoin, Livepeer is trading above the 9 and 21 day moving averages while the price is hovering at 3398 SAT. The bulls dominate the market and try to push the currency north. However, the daily chart shows that the buyers can continue to dominate the market if the market price rises above 5000 SAT.
In that regard, the potential resistance level could be at 5200 SAT and above. Meanwhile, any bearish move could cancel out the bullish pattern that could attract new sellers to the market by pushing the LPT/USD below the lower limit of the channel and reaching the support level of 1600 SAT and below.
Nevertheless, @decilizer informed his followers on X (formerly Twitter) that $LPT is developing as a strong competitor in the crypto market. With solid support confirmed at $20, we are targeting a move higher to $27.2. Hopefully, $BTC will reinforce this trend. The recent rally has already produced a remarkable 240% increase in profits.
Today the $LPT is emerging as a strong competitor in the crypto market. With confirmed support at $20, we are aiming for a target of $27.2. Hopefully, $BTC will support this trend.
During the recent rally, profits are up 240%. pic.twitter.com/r2oC5ohDZI— Decilizer (@decilizer) May 31, 2024
Livepeer Alternatives
According to the daily chart, Livepeer price could start to rise and possibly break above the channel as bullish pressure increases. Lately, the price has been fluctuating between the 9 and 21 day moving averages, which could lead to the upper limit of the channel being breached. Meanwhile, multi-chain token Dogeverse is gearing up for one of the biggest meme coin launches of the year after raising over $15 million in a highly successful pre-sale. This project has attracted a lot of attention from meme coin traders and crypto analysts, many of whom predict that the $DOGEVERSE token could see gains of 10x or more in June.
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