Livepeer price prediction for today, May 31 – LPT technical analysis

adminJune 1, 2024

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The Livepeer price prediction is that the coin is heading north, breaking the key resistance level of $22.0 and starting a rally.

Livepeer (LPT) Coin Gains Momentum: Future Announcements for Web3 Social Media Platform

Livepeer (LPT) is experiencing another boom cycle with steep vertical price surges. LPT rose from a yearly high of $25 to $23.11 in a single price move. Limited arbitrage opportunities can result in rapid inflows and outflows of tokens. Differences in LPT pairs can be a contributing factor to increased trading activity.

Livepeer predicted statistical data:

Current Livepeer price – $22.98
Livepeer market cap – $748.9 million
Livepeer Circulating Supply – 32.5 million
Livepeer total supply – 32.5 million
Livepeer Coin Market Cap Ranking – 108th

LPT/USD Long-Term Trend: Range (Daily Chart)

Main level:

Resistance levels: $33, $35, $37

Support levels: $12, $10, $9

Livepeer price prediction for today, May 31 – LPT technical analysis — LPTUSD – daily chart

LPT/USD is experiencing a significant uptrend that is pushing the coin above its 9-day and 21-day moving averages. The coin’s current performance indicates the beginning of an upward movement within the channel. Meanwhile, if this coin starts following a positive direction, it is only a matter of time before it reaches another resistance level around the $25 level.

Livepeer Price Prediction: What to Expect from Livepeer

The Livepeer price hovered around $22.98 and reached a daily high of $23.1. The ongoing trend may move a little higher in the next positive direction and the coin may reach the nearest resistance level. However, if buyers exert more effort, LPT/USD may reach additional resistance levels of $33, $35, and $37, respectively.

Nonetheless, if the coin falls below the 9-day moving average and the 21-day moving average, a bearish pullback could send the market back to the downside and reach the initial support level of $20.8. Moreover, further bearish moves could lead to important support levels at $12, $10, and $9. Moreover, the 9-day moving average is hovering above the 21-day moving average, which could give more bullish signals to the market.

LPT/BTC Could Be Shooting North

Compared to Bitcoin, Livepeer is trading above its 9- and 21-day moving averages with the price hovering at 3398 SAT. Bulls are dominating the market with the goal of pushing the coin north. However, the daily chart shows that buyers may continue to dominate the market if the market price rises above 5000 SAT.

For reference, potential resistance levels could be located above 5200 SAT. Meanwhile, a bearish move could bring LPT/USD below the channel lower limit and reach support levels below 1600 SAT, canceling out a bullish pattern that could attract new sellers to the market.

Nonetheless, @decilizer informed his followers on X (formerly Twitter) that $LPT is emerging as a strong competitor in the cryptocurrency market. With firm support confirmed at $20, we are targeting a rise to $27.2. Hopefully, $BTC will strengthen this trend. The recent rally has already resulted in an impressive 240% increase in profits.

today $LPT It is emerging as a strong competitor in the cryptocurrency market. With support confirmed at $20, we are targeting a target of $27.2. Hopefully, $BTC We will support this trend.
Profits increased 240% in the recent rally. pic.twitter.com/r2oC5ohDZI
— Decilizer (@decilizer) May 31, 2024

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